Extract from FS Website below. No doubt they are aware of SP and...

Extract from FS Website below.

No doubt they are aware of SP and their negative Mark to market. However they are clearly invested in NSL for Phase 3 and beyond - they will probably look through the current SP with the future ahead - in my view thats the only way to be now if you hold. SP irrelevant if you aren't selling and given the size of their position even if they wanted out they wouldn't be able to sell down at this stage - this is an important risk that they would of had to consider prior to their placement(s) - in other words they are in for the lonnnng haul.

2. Long-term focus

We invest for the long-term and ignore the day-to-day emotions of markets.

Too often investors get spooked by the gyrations of markets or enthused by the fashion of moment.  Too often they try to get rich quickly.

We also ignore the ‘hot stocks’, which are often spectacularly successful in the short term, but freeze without warning.   We focus on the long-term fundamentals of each security.

First Samuel is a patient investor.