NSL: Review of '16 and preview of '17, page-2

Mate this is so unlike you, writing a long post, I love it hahaha

Great post, would TU it twice if I could.

2017 is going to be a great year if 2016 was any indication. We:

• Are 100% debt free
• Have at least A$6m from option conversions based on only $250k underwriting
• Have already paid off the majority of Phase Two to Huate Magnetism
• Have successfully commissioned all components seperatly and as of the last update announcement were on the very last stage of full commissioning prior to Christmas day.
• Have a continually growing relationship with the state Government of Andhra Pradesh, further evident through two delegation visits from China
• Have behind the scene progression of both a pellet plant and steel mill at Orvakal, both of which offer huge potential for the company alongside existing expansion plans
• Have further land acquisitions through HOA, to snap up the available mines in the Kurnool district

The only things hanging over the company at the moment are the $2.5m lawsuit over their coal tenements which has so far gone in favour of NSL and the big derisker of production/sales of the 62% Fe product.

I strongly believe both of these risks will be removed soon and we will be clear of any negative angles to try poke holes in the company and its accomplishments. Cash, relationships, cashflow and big plans to expand makes this company a standout for 2017 and one that I am more than confident will be successful.

Sean, Cedric and Dan have worked long and hard over this past year and deserve our recognition and appreciation. It might seem like just another name to some of us but they are people with wives and children who spend weeks at a time in remote Andhra Pradesh working long days to turn this into a successful operation. Sean spent six weeks away from his family before the AGM and had plenty of long slogs ahead of him, which he deserves nothing but admiration for.

It's easy to throw stones or use harsh words behind a keyboard but at the end of the day these men are out there in the sun actually trying to make us all money and they deserve our respect.

Best of luck for 2017 and Happy New Year!