indian iron nsl, page-16

Hi (tonethegroan)

Sorry,just had a look at the figures again.Kuja Project 331,297 tonne per annum and Mangal 500,000 tonnes per annum = 831,297 tonnes per year of mining rights.

In due diligence processes on Kuja and Mangal,how come they did not pick up they were only allowed to do very small scale operations?

How come they trucked iron ore to port and took 3 months before they discovered contamination in the iron ore?
Surely test work in laboratories should have picked this up.Forgot the laboratory can only test for Fe,Al2O3,SIO2 and moisture content,which are all critical components for the maintenance of export quality,NSL said.
What about Phos?

October 29th 2010 they said,during the past six months NSL has successfully installed and commissioned the following infrastructure of note at the stockyard.
New crushing and screening plant able to produce finished lumps and fines at a rate of 150 tonnes per hour.
Weighbridge facilities,Offices and laboratory.

What happened to 18/01/10 New Iron Ore Start up.
Comparing the Pilbara,Mid West and NSL.

NSL Gives itself.
NSL = High Grade = tick - Infrastructure = tick - Ready to Produce = tick - Close to end markets (they did not know how close at the time) = tick - Production during resource definition = tick.

Project Criteria NSL gives itself a tick for.
Hematite quality resource.
Ready to operate Direct Ship Ore.
Potential resource upside preferable.
Government approvals in place for mines ready to operate within 6 months of acquisition.

Abundant capacity available with established 3rd party access regimes.Not what NSL are saying now.

Current Projects in close proximity to Rail,Road and expanding Krishnapatnam Port.Port don't think so.


Mining commenced in December 2009
Kuja mine Material available for first shipping by end January 2010.

Regards
Westcott.