Ann: Infinity Ores - 20,000 Tonne PO Update, page-233

Again, I'd like to reiterate. The court case, which I am quietly confident we have in the bag, will not be determined this week. The court will try the case, at which point they will go away for a long time to review and deliberate, likely months, before a judgement is determined.

Additionally, as I have said previously, this court case has nothing to do with our Indian iron ore business and is entirely to do with some coal tenements in Queensland. The worst case scenario would likely be a $2.5m judgement against us and award costs to the other party.

Yes this would impact our working capital, but by the time the judgement was handed down and the company actually had to pay up, NSL is likely to be leagues ahead than where it is now.

For all we investors know, the finance being arranged by Xinhai includes a contingency payment in the unlikely event the case goes against us. This finance deal is more likely to be determined before with court case is.

There is an enormous campaign of scaremongering taking place this last few days, it's not coordinated, it's not the big boys tree shaking, it's literally sharks circling trying to pick off anyone they can convince that the sky is falling.

IFO delivered ore to site and are likely continuing to do so. They wouldn't do this if they didn't intend on picking it back up later having paid for it first.

We have dozens of new staff on site, with new members taking on roles such as Safety Officer, Mine Forman, ect.

The company have a plan to move to the next 2.5mtpa capacity. They are also arranging finance.

The company still have a JV partner, WeiHua, who we are now more confident are working together to progress a A$600m intergrated steel plant. A plant for which the Government has already allocated land.

The company are anticipating cashflow in excess of A$1.2m this quarter. They have also indicated the likelihood that IFO will make additional purchase orders beyond the existing 20kt.

The company are working towards a higher grade product in order to gain a higher price. They are not sitting on their hands whistling. Staff are being hired, trained and put to work.

Yes the share price appears to have little support, yes there are constant negative thoughts popping into everyone's heads, but it's always darkest before the dawn.

NSL is not for the faint hearted nor is it for those without oodles of patience. India is not for the faint hearted nor is it for those without oodles of patience. HC is not for the faint hearted nor those without oodles of patience.