Yeah i tend to agree, this is a very nice announcement. Loving the prepayment that has been negotiated. And also loving the confirmation that 2/3 shifts have started, even though it was implied nice to see it in writing and that 3/3 shifts starting soon. Feeling much more comfortable about where things are than yesterday...
This is my gut feeling on BMM and its all IMO. All along NSL stated they could produce 58-62% no questions asked. then from the first round of testing higher grades were starting to be seen so potentially nsl jumped the gun and said to bmm we can reliably produce 63%. first PO was recieved but since then they have realised the consistent 63% was not possible. maybe bmm have gone cold and dont want it filled until xinhai upgrade current facility. this is in line with what IFO have agreed, with them supplying higher grade feed to be mixed with nsl feed to produce consistent 63% end product, most likely something bmm didnt want to do.
We now know however, other companies have visited the site, negotiations are continuing and xinhai were sending engineers to complete their diligence to follow on the mou from a couple of weeks ago.
All good stuff!
NSL Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
(20min delay)