Mistaken. Announcements on 9/6 and yesterday confirm we were...

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Manny_Meadows

43 Posts.

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21/07/17

12:16

Post #: 26003529
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Originally posted by FreeYourself ↑

What hard information/facts are you basing this on Kenny? Unless I'm mistaken ZERO dollars entered the NSL bank accounts last Q. How much has entered this Q? Their daily burn rate as a company is about $21,800 per day. There has been 112 days since they last Q where they had $2.55m. At that rate they will have $0 in the bank accounts by they time they report next week. Unless they announce some sort of funding (whether it be a dilutive CR or a loan) the ASX will likely issue them with a letter requesting what their plan is as they will have less cash than their expected burn rate this current Q.

Instos or existing holder buying shares off of Sean or Cedric would provide no financial benefit to the company. It would be an off market transfer between them and Sean and Cedric would receive the proceeds in exchange for their shares. The only way NSL could benefit would be if Sean and Cedric were to then loan the proceeds to NSL, (or use them to pay off their loan).

So unless NSL has been pulling the wool over our eyes and have indeed be selling IO under the cover of darkness then they are going to have no money. Which means they will need money. Its not rocket science. The SP has taken a beating because the last Q made it sound like this Q would have a guaranteed sales income of $1.23m and it has slowly come to light that it is infact quite the opposite. So again, not rocket science that the SP is falling as a consequence. I also believe managements approach to all of this has spooked some investors too (myself included as im much more skeptical of them now).

You guys write these "hope and faith" posts based on factless assumptions and then crucify anyone that presents a logical opposing point of view.

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Mistaken. Announcements on 9/6 and yesterday confirm we were paid for ore.

NSL Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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