NSL still sitting prettier than any other Aussie iron ore mob as far as I'm concerned, best risk V reward play, lowest capex, good profit margins and the only foreign owned Aussie iron ore company in the largest growing economy in the world; India.
FMG recently stated they're looking into exports to India, that's how bullish IO is looking in India right now, but NSL being an Indian domestic company will have better prices and also favored by the Indian government and the locals.
The Indian government have also gone out of their way recently to allot NSL 250 acres for a pellet plant and 750 acres for a steel plant. Estimated $44-52 per pellet tonne operating profit.
Right now they are ramping up to 24hr production by the end of next month at the wet plant to produce high grade Iron Ore at around $43 pt profit, first purchase order ann recently, and in talks with other customers.
Plans thus far are to get to 8+mpta high grade IO
Hopefully gearing up to be FMG's younger brother, maybe even bigger once the steel side is progressed, all-in-cash costs are low so can survive well past many other smaller IO companies like AGO's threshold.
