Well back in the 4 cent range after a "positive announcement".
Sorry to be a glass half full kind of guy but I dont agree that this is a good deal. We have just sold a 40 % stake in the company for $12.2 million when Cedric was telling us 2 years ago that the NPV was $100 million. And that was before we had AP!!!!!
We are on the brink of 10000 tonnes per month sales and a profit of approx $1 million per month and we have to wait 6 months to get our money in total from the JV. Vijay will almost be able to fund the payments from cashflow if we get our asses into gear!
Also dont forget that there is the repayment of the $2.5 million. Those guys have been a great find. Look at all the business they have generated. I'm sure that they will be taking up the shares at a discounted VWAP that they are entitled to and further diluting our holdings.
Just so frustrating!!!
NSL Price at posting:
4.7¢ Sentiment: None Disclosure: Held
