cash cow which seems like a no brainer , page-77

Hi joeborgo,

I also think 2.5% commission is a bit higher than the standard agency fee of $1-1.5/t or 1%, however as you know this is the condition linked to the $2.5m funding received to balance investor's risk/return.

Regarding the ongoing sales, you know at this stage NSL is still piling up the iron ore stock, I think NSL just needs to ramp up the production to 20k/month to meet the minimum 50kt order, yes it will take a bit time.

Plase donot worry about the sales, no steel maker just depends on sole supplier, they normally mix the higher grade (62%+) iron ore with low grade ore (50-58%) to feed their furnace. The larger the steel maker is , the higher ore grade needed, as their furnaces were designed to only accept 60%. But the smaller steel maker is, the less ore grade it needs as their furnace were flexible(50%+ okay).

Clearly NSL is targeting local small-midium size steel companies, so grade and sales should not be your concern, but the profit margin needs to be confirmed by first decent sales contract.