Ann: PHASE TWO WET PLANT SHIPMENT COMMENCES-NSL.AX, page-43

HIGHLIGHTS
 First stage delivery of equipment sailed and enroute from Qingdao, China to Krishnapatnam, India.
 Second stage delivery of equipment on track for mid-May sailing from Qingdao, China to Krishnapatnam, India.
 Site works progress with construction of office expansion and infrastructure.
 Civil foundation work commencement celebrated with Puja, attended by local dignitaries, village elders and bureaucrats, highlighting local engagement and support of the project.  
 Phase Two wet beneficiation plant on schedule for Q3 2016 commissioning and Q4 2016 positive cash flow.
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NSL Consolidated Limited (Company, ASX: NSL, NSLO), is pleased to provide an update on its Phase Two wet beneficiation plant program. As announced on 21 March 2016, the Company entered into a ground-breaking equipment supply agreement with Shandong Huate Magnet Technology Co. Ltd or Huate Magnetism (Huate), one of China’s premier global beneficiation plant suppliers (refer http://www.chinahuate.com/).  
Significant steps forward continue, with the first stage delivery in transit between Qingdao, China to Krishnapatnam, India and scheduled to arrive in India prior to the end of May. Further to this, the second stage delivery is on track for a mid-May sailing departure from Qingdao.
Construction of office and site infrastructure moves towards completion in readiness for the commencement of the civil foundation works.