Ann: Director Appointment & Appendix 3X, page-13

It's easy to be pessimist on the NSL/IOR threads. And I must concede a pessimist would have a pretty good track record so far !

But.... it's easy in investing and in life get stuck in our ways and form opinions that can change slower than the facts presented and that is the space where the astute investor can either buy or sell at the right time.

According to NSL's last half year report as of Dec 31st they are sitting on 16 millions dollars net assets so a current MC of 16 Million prices IOR only 3 million for the risk. I think that's fair to cheap value for considering how far they have come. ( Although do not get NSL to deliver you a pizza )

I don't know a lot about Iron Ore or but I will wager Dr Senapati probably does.

This is a guy that could probably work all over the world in any company he chooses. Don't overlook the level of chinese interest here or the so far unwavering support of the Indian government with land grants and very generous GST rebates etc.

Not a lot to go sure but this is the spec space and IOR is priced accordly right now.

Any boxes ticked over the next few weeks to months by new management is bullish for me. Happy to grant the skeptics there time in the sun but I think its worth watching this stock very closely this week.