Well, this announcement, albeit long overdue, is certainly a...

Well, this announcement, albeit long overdue, is certainly a step in the right direction.

As I posted last week, there have been some great trades in NSL! Despite what some think, I can only make money trading NSL when it's going up!

My concerns with this announcement are that there is still no mention of margins and it's very sneakily worded in my opinion to only give the sale price. There's also no mention of output, average grades, etc. It's very reasonable to assume that the costs with the blended ore are going to impair profitability as previously modelled, we just don't know by how much.

I would like to think all the big bids at 2.8, 2.9 and 3 are legit but I suspect they may be props trying to distribute at 3.1. There's been lots of volume at 3.1 so unless the price goes up further it does suggest distribution. A close above 3.1 would be very bullish though. It could go either way from here, we will have confirmation in the days ahead.