I do recall management mentioning (possibly some quarterly)...

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Grug57

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14/05/18

17:51

Post #: 33085354
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Originally posted by Rhama ↑

I feel for you Madgwick and have seen your exact same scenario play out in other companies. It was another reason why I had my finger hovering over the sell button this morning. However, the other companies I've seen this happen to were not in NSL's position. If commissioning is to take place early next year - and upgrades to the existing plant are to be made - then I figure we can start getting updates about phase 3 soon. Due to NSL's track record I'm still not convinced this will happen but we do have a little time up our sleeves before consolidation. And, "if" we get further sales updates that are positive, then I'm counting on the fact that consolidation will happen according to Delta. I'm of the opinion that consolidation should only be voted yes for if we get positive updates before it comes about.

But, and I believe this is a big but, come the 17th - or whenever Magna receive their shares - if they start dumping them all on the market like they have in the past, who knows what effect that might have. For me Magna are now the elephant in the room. I'd love to know who exactly let that elephant out. Are they still with the company?

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I do recall management mentioning (possibly some quarterly) indicating a dispute about the royalty. Now they have 36m shares post the general meeting at their disposal. Considering that they only took $500k in lieu of a 7.5% life long royalty on phase 2, I am hopiny they are looking to hold it for a little while..

NSL Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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