When Cedric came to NSL his mantra was :- 1. No Debt - that...

When Cedric came to NSL his mantra was :-

1. No Debt - that future expansion would be funded by sales.
2. DSO only mines.
3. Preservation of shareholder equity - ie no cap raisings.

To date he has not been able to meet 1, thats right not 1, of his objectives or timelines.

Without looking at past announcements, he has spent approx over $10 million on the 2 mines. We had a market cap of $20 million when the consolidation happened. We would have been better off liquidating and distributing the funds to shareholders.