In the interests of transparency, IMO you need to change your avatar to that of a muppet - any one of them will do - as long as it is a muppet. Your naked attempts at scaremongering are laughable, as you seek to exploit information voids with made up crud. Some facts to counterbalance your contentions:
a wet beneficiation plant has been built and commissioned and it can consistently produce ore up to 62%Fe (as per its design specs) from low grade in-feed as low as 14.5% Fe.
the plant can produce in excess of its 62% Fe designed capability in certain circumstances, depending on the grade of in-feed ore.
the plant - commencing from greenfield status in a remote and less developed part of the country - has now been resourced to full capacity and is days away from running at 24x7 capacity which currently will yeild about 500 tonnes per day subject to in-feed stock.
the company has signed an agreement with Xinhai from China to upgrade the existing plant to consistently produce at 63-65%; and to progressively build additional capacity at this higher output rate up to an output total of 2.5mtpa; and to secure the financing for this. 2.5mtpa is just a waymarker on the planned journey to 8m tpa....and to also being the operator on a 50% owned steel plant with the 50% earned as a free carry (pending evaluation)!
the upgrade of current plant and then doubling of capacity via Xinhai is expected in the second half of this year.
the company has mines and access to low-grade in-feed stock to meet the current and future designed limits of the plant.
the company has received a 4000 t PO from BMM for 63%Fe which will be filled when the company has upgraded its plant to produce this or when high grade in-feed ore can be economically sourced. The agreed price is A$65 per tonne against a modeled production cost in the low $20 range. This cost may be in the mid $30 range in the interim while higher in-feed stock is required (based on extrapolations of indicated ore prices).
BMM have indicated that they are interested in taking at least 200k tpa subject to the grade being met
IFO have placed an order for 20,000 t at 63% for A$65 per tonne and have commenced providing 10,000 t of 50%Fe in feed ore which is believed to be sufficient to fulfill the current 20,000t 63%Fe order PLUS a subsequent expected order.
NSL is not building consumer entertainment devices - but gradually building itself into a material presence in the Indian iron ore and steel making industry. An industry that is about to explode in growth to facilitate national infrastructure objectives. An industry that will favour Indian Made. An industry in which NSL has a priviledged and rare position as a foreign owned company. Progress and success is not measured in hourly, daily or even monthly SP gyrations.
Take a step back and recognise what is being built here and the time frames required. The progress made so far has been disappointing when measured on what the company hoped for, but spectacular based on the realities of what is required to do what they have done from where they started, in the place that they are doing it. If you know what I mean. They may have over promised...but if you use an ounce of practical nouse you will note that they have in no way under delivered.
Long way to go still, but this train is firmly on track IMO.
(20min delay)