The way I see it, 1st Sam's interests are aligned with our interests. Unlike employees of NSL who collect a salary or bonus, 1st Sam don't stand to make a single cent ROI until the SP heads North.
They're also pot committed (to borrow a poker term) in that they've got so much skin in the game they can't afford to walk away, they own 16.87% of an Indian IO company, come hell or high water they'll just keep throwing money at it until it works damnit!
Not that they can walk away anyway, with 548M shares the SP will be at zero before they've even started to unwind, no, they're here until the SP is much higher or eventual dividends, both of which are fine by me as this was always going to be a LT hold.
The fact that 1st Sam's interests are aligned with our interests brings up another interesting point - Cedric's bonus. To be honest I don't care what has to happen for the SP to head North as long as it does. If the expansion doesn't happen on schedule, Cedric doesn't get his bonus, simple, and with 16.87% 1st Sam breathing down his neck, it could very well be on the chopping block if he comes up short. So whilst I still plan to vote 'no' to Cedric's bonus as a token sign of protest, I'm happy for 1st Sam to vote whichever way they see fit.
In the meantime I plan to average down then bottom drawer this, with the faith that 1st Sam will do what it takes to look after their investment, and indirectly look after mine in the process.
IMHO, DYOR, and GLTAH
NSL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
