After watching NSL for over 2 years, and reading through the forums, this is my first post here.
Judging by the comments, quite a few here have little to no experience with working alongside foreign governments in jurisdictions that don't necessarily follow our western jurisprudence and business etiquette. Understandably frustrations set in when time lines are not met, when delays appear and when business decisions seemed to be bogged down in a quagmire of indecision and seemingly lack of direction. However, and I will be clear here, NSL have kicked more goals in the past 2 years then fellow ASX listed IRL has kicked in 5. (also operates in India)
Working in a foreign country brings a whole lot of new tensions, new rule books and cultural expectations that we Aussies don't usually experience in Australia. And on my part, having worked at government level in various countries including Japan, Thailand, Malaysia, Singapore and UAE, all I can say is that I applaud the work done by the NSL management in maximising potential for shareholders in a seemingly very efficient manner.
The reason this is my first post is that although I watched the share price flop around at the 1 to 1.5 level for sometime, I wasn't convinced it was a good investment. Especially as I was also tracking the aspirations of IRL at the same time, and had been for almost 5 years. After the drop in share price recently (due to a part replacement being seen as a calamity) and because of herd mentality driving the price down further, I decided to go against the crowd and buy in.
My average price is now just above 3 cents and I am happy with my investment even though I could have bought in a year or 2 ago for a lot less. You see, what has changed for me, is the confidence in the project, the belief that management are now seasoned culturally to Indian work methods and the fact that they are continually ticking the boxes with ministerial approval. India is a slow country and those who have worked or travelled therein, know it is both dynamic and complex at the same time. A land of vagaries, oddities and spiritual wonder, yet a land about to go through the same industrial revolution that much of other parts of the world experienced. India is changing and that change requires investment in its own resources and people.
There are some excellent posters on here and I would like to thank them for their insight. For those in doubt, those who worry about the micro-managerial side, I suggest you read between the lines, and put a bit of faith into some very hard work that has achieved some amazing results. If in doubt...Incredible India awaits your visit. I guarantee you will see things differently.
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