@micklff - its roadtransport as you correctly guessed - so no material change to their previously announced costs.
@Otto_: Cederic was in sydney last week talking to those who couldn't make the AGM.
Here's a few additional points which I gleaned:
* Local Indian government are very supportive of their activities as they are now a major employer in the local region. It's a very poor region, so providing jobs is a big deal. Around ~250 employees and growing. Its not a small operation anymore.
* Given their lower cost to other producers, everything they produce is getting sold. The next option for buyers is to pay an extra ~$30 tonne (varies depending on location) - so if they NSL produce it, it gets sold.
* Customer feedback on product has been excellent - grade is very uniform, makes good pellets.
* Expansion plans are thus going ahead at full steam.
* The 'micro lot' 4K tonne Iron ore order size appears to be the default standard lot size in India, and even the bigger players deal with these small lot sizes.
* They hit nameplate capacity in Oct - but the record floods have been causing some slowdowns as wet feed clogs up and makes it harder to process. More growing pains with learning how to deal with it.
* They have no idea when the WA court decision will come down. They won't get the told the date by the WA court until a few days before, and given we are going into Christmas/Jan slow period, if it doesn't happen this month it might drag out a few more months. They remain very confident.
* New website coming soon.
To me, point 2 is the key to this company and why I'm a fan. Even if we see significantly weaker global iron ore prices going forward, NSL have a pricing 'moat'.
(20min delay)