NSL - what happens next?, page-92

I think there is enough wriggle room in the definition of “hitting nameplate” for any investor to have their expectations/sentiments confirmed. Whatever those expectations/sentiments are, “nameplate” is approx 550 t of output at 58-62% Fe, per day. Or is it? Is it (say) 600 tpd in optimal operating conditions and with typical expected monsoons the annual adjusted figure is 200ktpa? Or is it a daily max of 550tpd and hence with monsoons the annual target is actually below 200 kpta? My point is, that no one really knows what “hitting nameplate” really means and that management should be able to give us a story of some sort after the month has completed. The credibility of that story will depend on the facts proffered and on the sentiment of each individual investor. No doubt, some will be satisfied, some excited and some disappointed.

For me, I am just looking for three things: 1) confirmation that they are close to or are at a production rate of 550tpd by the end of October; 2) that they have been able to sell/despatch what is being produced, and have comfortably exceeded the current “record”; and 3) that there are no near term supply or demand uncertainties that will affect the ability to consistently remain at nameplate. Hopefully clarity to these three points will be with us within the next week or so.

Al IMO only and GLTA.