For what it is worth, I don't believe that NSL has received further funds from VJ. I would love to be wrong as I think the making or otherwise of this stock is the payment of said funds.
There may be real and understandable reasons for the delay, but bearing in mind the size of VJ, it is at least unsettling!
The danger is, the longer it takes, the closer NSL is to having to address the balance sheet (the dreaded CR) and with the share price where it is, that is a disappointing thought. One of the strong attractions to NSL is the limited number of shares on issue.
The only other way the story can develop positively, is for the arrival of VJ staff and assets to make all the difference in terms of pushing NSL into a strongly cash-generative position. Clearly that is the plan, but it has been a bit of a mirage to date.
As you know I have consistently been positive on the potential in this story (much to some shareholders annoyance - sorry JB). I believe management are doing their best for themselves and shareholders but it is clearly a difficult place to do business. We need VJ to come to the party fully (i.e. pay the money). If this all comes to fruition, the upside is massive. I mean really massive.
Anybody holding a few thousand shares or more over the next few years could make a real difference to their personal wealth situation. I have all the faith in our management team, but let's hope we're not being legged over by their partners on the ground.
NSL Price at posting:
2.4¢ Sentiment: LT Buy Disclosure: Held
