Ann: Infinity Ores - 20,000 Tonne PO Update, page-63

One of the major delays as in time factors factors in India is the bureaucracy ...NSL has had to struggle through red tape and land laws in a country that normally made it difficult for foreign companies to enter..

Rules, regulations and bureaucracies in India has put off a lot of foreign companies from doing business in the country in the past, something Modi is now trying to fix...

NSL is the only foreign owned and operated iron ore miner in the country and there is a reason for that..they basically came in under the radar..if they had been a larger mining corporation seeking to mine high grade ore directly they would not have been able to get past the red tape..there would have been an outcry from domestic miners...and govt parties.

NSL is set up as a low-grade iron ore miner bringing grades from as low as 26% up to a saleable grade, around 60%, through beneficiation...something in the past that high grade miners in India have lacked interest in...which was fortunate for NSL.

NSL have been run through the mill with the politics of it all..politics in India is very complex and there’s lots of political parties with lots of different viewpoints...this has caused delays in the past..but along the way NSL has learned some lessons about operating in India.

India is a difficult place to do business, like many countries are…when you’re a pioneer a lot of things are difficult nobody else has done what NSL as a foreign company has been doing in India, so every time they do something, it’s the first time it’s ever been done by a foreign company...thereto the red tape politics of it all.

NSL has now learned valuable lessons about how to work with the bureaucracy, how best to approach an issue and how to conduct business in India...

as Cedric has stated -
"We have this great black box of intellectual property now about what to do, when to do it, how to do it, who to speak to about it, what process to follow, how long it’s going to take and all those sorts of things,"

The steel industry in India has almost doubled in the past five years and is currently the third-largest steel industry in the world on it's way to being 2nd ....with about 90 million tonnes of steel produced per year...this could sky-rocket to about 200 million+ tonnes by 2020...this steel is expected to use, almost exclusively, "Indian iron ore."

I do understand your frustration re - delays though these delays might not necessarily be on the NSL of things..'could very well have been factors beyond their control'..such as delayed deliveries of products or machinery..it has been a long tough frustrating slog for them to get to where they are ...their frustration would be mostly directed at the Indian govt for the delays , on saying that they seem to have full local govt support now....however some SH's like to direct their frustration at NSL ..and ignore the fact that it might not be NSLs doing..

We seem to be up and running now so lets see how this pans out in the next weeks..hopefully full steam ahead..been a long journey for some and longer for others..i still do think NSL is way undervalued ..LT here...enjoy the ride.


P.S... i do not see this as ramping i am merely pointing out the obvious to some and facts of interest, investors can ignore it or take it how they like.