Ann: Sales Update, page-72

Some thoughts
- NSL do not sell iron ore. They sell exact concentrate iron ore product used as an additive.
They have 3 major steel mills as customers all reporting excellent results and have placed forward orders.
Sales are no problem and production is increasing.
- First Sam have skin in the game and deep pockets. It is highly likely they will play a major role in phase 3
expansion and beyond. The expansion story is a compelling one. Also product will be produced at a far lower cost with phase 3 since staff etc will be largely unchanged. Attractive margins become even better.
- I think negative sentiment is actually important otherwise HC can become a group of Happy Clappers.
Having said that it may be time to get the sauce ready Stublack. Your Humble Pie may be on it's way.
-Knowledge is wealth and we certainly know a lot more than a year ago. More will be known in 6 mths time.