NSL: Review of '16 and preview of '17, page-6

I have asked this before but I will again and am hoping people with greater expertise like Kenny and Tim can respond. I think that the company have done a reasonable job so far, with a few odd decisions along the way, but all in all, quite well.

I am however concerned that the delay in Announcing being Cashflow Positive and the delay in confirming that the ore that we are producing is in fact 62FE is more serious that we believe. I note that they have put forward a range of other announcements that are all ok but none of them are the ones that we are looking for.

Is there any certain indication that the product that they are producing is in fact of a grade that is useable, not just rubbish or too low as with phase 1?