Conferences and statements from management don't sell Iron Ore. The first sale of Iron Ore has been reported a number of times but no cash received. No reports of subsequent sales of large or small quantities of Iron Ore. We the shareholder's hang on one sales - if demand is so 'rosy' one would think transport would be lining up at the gate of the mine to pay and take Iron Ore away . A look at the most recent Quarterly Activity & Cash Flow Report 31/10 indicate NSL's cash position is poor. There is reliance on receiving payment from the first sales of Iron Ore. The sale of Iron Ore NSL keeps reporting and talking about is encouraging but NSL have not reported receiving the cash for the sales. Salesmen know that a sales is not a sale until the payment is received.
NSL Price at posting:
0.4¢ Sentiment: None Disclosure: Held
