ELE - Elmore Ltd

[Drubula]

Re: NSL - NSL Health

I take my hat off to the NSL Management as the updated project report issued at 4.00pm today was a better market update than the earlier one.

Happy to continue being a longterm holder of this stock. This stock does have huge potential if all falls into place, starting with confirmation of the earlier potential target of IO of 200mt.

Drubs

 

[STRAT]

Re: NSL - NSL Health

I take my hat off to the NSL Management as the updated project report issued at 4.00pm today was a better market update than the earlier one.

Happy to continue being a longterm holder of this stock. This stock does have huge potential if all falls into place, starting with confirmation of the earlier potential target of IO of 200mt.

Drubs

You are taking the piss, right? Surely you arent implying adding a disclaimer to the end some how makes it a better ann

 

[Drubula]

Re: NSL - NSL Health

No but what i have stated is if you refer to my earlier message, NSL have improved their communication to the market. More to the point there was nothing positive in the announcement other than to give a more precise time frame on the expected findings of the geo report. I will not give any updates on this stock until my own research is complete, and hopefully soon.

I will have a beer with you if all goes to plan.

Thats it

Drubs

 

[Drubula]

Re: NSL - NSL Health

And by that STRAT I am hoping for the potential IO to be proven once exploration/drilling commences sometime in the future as noted in their release today.

Drubs.

 

[nobearter]

Re: NSL - NSL Health

Drabula,
You are seriously in fantasy land....do you how much is costs to do the exporation drilling? 400k isn't going to cover it and besides the directors have to eat....You should be asking how much of that $11 million that supposedly is being raised by Aust Ind has actually been banked.
Guys can you get back to reality and start asking some serious questions to the directors..

 

[Scuba]

Re: NSL - NSL Health

Having read replies by people who joined in the last 42 hours (give or take, who could have set up other accounts...) It all seems to be getting a bit silly here in this thread, accusations, denials, heresay...
In relation to drilling costs; things are alot cheaper in India, that's why half of Australia's phone centres have been outsourced there isn't it? (exaggeration )
Thought this was ASF not HC, for those that are interested there is a thread on sharescene too...

 

[irondragon]

Re: NSL - NSL Health

Drabula,
You are seriously in fantasy land....do you how much is costs to do the exporation drilling? 400k isn't going to cover it and besides the directors have to eat....You should be asking how much of that $11 million that supposedly is being raised by Aust Ind has actually been banked.
Guys can you get back to reality and start asking some serious questions to the directors..

Patience is needed here. As we found out in today's announcement there is a JV committee meeting later this month.

What we know from my previous posts ...
We know from a previous announcement dated 29/2/08, the JV committee meeting will be convened to determine the quantum of funds to be expended and the program undertaken.

Plus we know that the AIO Chairman Justin James is an Indian Business entrepreneur for 25 years with established credentials for resources project acquisition and management in India.

We also know ... Austind has had discussions to raise up to $11 million to fund the land acquisition strategy, mining permit applications, joint venture expenditure and general working capital.

Austind has also negotiated “Non Objection Certificates” from the owners of the land to which the mining permit relates. This process should ensure that the mining permit application will be processed without challenge from the local land owners. In addition, Austind has negotiated to purchase circa up to 1000 acres of the freehold land from the land owners covering the Project area. The estimated total acquisition cost is expected to be approximately $10 million and will be funded from Austind’s current equity raising.

The joint venture agreement between NSL and Austind provided that the parties must agree on the land acquisition strategy and various other matters on or prior to 31 January 2008 as conditions precedent to formation of the joint venture. The parties extended this date to 29 February 2008 to allow Austind sufficient time to make the mining permit application and deliver to NSL a legal opinion on the land acquisition strategy.

Furthermore, NSL director Mr Peter Wall appears to have the right credentials with the JV agreement process :

Mr Peter Wall - CHAIRMAN, DIRECTOR
Mr Wall graduated from the University of Western Australia with a Bachelor of
Laws and Bachelor of Commerce. He has also completed a Masters of Applied
Finance and Investment.

Following graduation from UWA, Mr Wall commenced employment at a large
Perth based law firm and later joined Steinepreis Paganin in January 2000.
Mr Wall was appointed a Partner at Steinepreis Paganin on 1 July 2005.
Mr Wall has advised on numerous IPOs and has a wide range of experience in allforms of mergers and acquisitions (including takeovers and schemes of arrangement).
Mr Wall’s other areas of practice include reconstructions, energy and resources, telecommunications, capital markets, corporate and strategic advice, securities law, commercial law and contract law.
Mr Wall has significant experience in successful recapitalisations, including in
recent times: Digital and Voice Media Limited, Environmental Solutions
International Limited, G Retail Limited, Knights Insolvency Administration Limited, Transerv Australia Limited and Centralian Minerals Limited.

DYOR ...

 

[STRAT]

Re: NSL - NSL Health

Hi Kennas and Young Trader,

May I ask are you fellas still holding. The thread which started out as a heads up and disscussion regarding a spec play on the acquisition of some dirt in India has moved into conversation more about long term prospects. I doubt this was what you fellas had in mind when you bought in. It certainly wasnt what I had in mind.

 

[nobearter]

Re: NSL - NSL Health

At last someone talking some sense(strat)...if this is a speculative short term play all power to you however, if you are in it for the long term i can only refer to the past failures of the persons associated to Aust Ind...there are many investors in Brisbane and Melbourne still hurting from their previous failed ventures...DYOR

 

[LRG]

Re: NSL - NSL Health

No word of late from Kennas or YT?

I have just made a decision to exit this stock.

The ann was weak IMO - this seems to be just dragging on.

Will get back in if it makes new lows in the next few days to try and recover some losses.

 

[YOUNG_TRADER]

Re: NSL - NSL Health

Hey guys,

Looks like we saw some buy the rumour sell the fact play out, which was also made worse with our tanking mkts (thanks Mr Dow)



And just like I said the volatility was huge, a run from 2c - 3.5c in a few days, now back at 2.7c



LRG, you have to look at this stock for what it is, a good spec traders stock, which does offer alot of spec upside, however it is hard to put a real solid NTA behind the company, sure you can give it EV's and such but we need verification of the target size that they are going after to get valuations and so forth,

2 weeks they say for more news, not too long

Like I have always said NSL is a spec trading stock which offers potential high returns but equally high risk, its too early stage at the momnet to put a fundamental value on, but should it pull the project off then watch out

and LRG you pm'd me a few days back re NSL and heard from me

 

[Sean K]

Re: NSL - NSL Health

No word of late from Kennas or YT?

I have just made a decision to exit this stock.

The ann was weak IMO - this seems to be just dragging on.

Will get back in if it makes new lows in the next few days to try and recover some losses.

Well, to be honest, I am bamboozled by the latest ann.

Who releases an ann saying that they have some results, but does not release them.

2 April 2008
The Company Announcements Platform
PROJECT UPDATE

* Results from additional rock chip sampling completed by Austind Iron Ore Pty Ltd (Austind) are generally consistent with previous grades reported.
* Additional detailed technical data supplied by Austind at the request of NSL’s independent consultants is under technical review.
* Joint venture committee meeting is being scheduled during the month of April 2008.

 

[LRG]

Re: NSL - NSL Health

Thanks YT and kennas. YT I did not see your reply to later sorry.

Anyway, as I said I have taken my holding back to NIL. After all the weeks of ups and down (wish I sold at 3.5c) I am out today at 2c and carrying a loss.

No worries, I will get in in a couple of weeks if it sells right down again as people get tired of waiting with little news. But if I do get in again at a lower price, i am well aware it may be throwing more good money after bad!

 

[irondragon]

Re: NSL - NSL Health

After all the weeks of ups and down (wish I sold at 3.5c) I am out today at 2c and carrying a loss.

No worries, I will get in in a couple of weeks if it sells right down again as people get tired of waiting with little news. But if I do get in again at a lower price, i am well aware it may be throwing more good money after bad!

? There is still massive interest in this spec. Difficult to predict how low SP may go in the next couple of weeks, but I think sellers will be few and far between, until the independent geologist results are known.

I still am behind on this one having purchased at an avge around 2.9cents.

Then again I'm behind on others too due to the correction we had to have in markets!!!

Ouch, sorry to see your loss LRG. Good luck with your future trading activities.

Hi Kennas and Young Trader,

May I ask are you fellas still holding. The thread which started out as a heads up and disscussion regarding a spec play on the acquisition of some dirt in India has moved into conversation more about long term prospects. I doubt this was what you fellas had in mind when you bought in. It certainly wasnt what I had in mind.

YT had an interesting post at the start of this thread (see below). Now can readers see the possible potential of a combination of short/medium/long term plays???

Hi cmh

Your right, NSL will have to issue 1Billion shares if the project JORC's 200Mt's@60% Fe minimum

So current shares = 300m + new shares once JORC = 1000m Total = 1.3 Billion + say 200m more for some extra cash = say 1.5 Billion

But then for all this to happen the company will have a JORC 200Mt@60%Fe deposit, the EV on this at $10/t = $1.2 Billion

You divide that by the 1.5Billion shares on issue and it equlas a share price of about 80c

Now if they JORC more than 200Mt's they have to give even more shares, but bottom line is who cares, the current SP is 2.5c

So regardless of how much they issue, it will only be issued once a 200Mt @60%Fe project is confirmed and as I've shown the EV value of this is over $1Billion Dollars,

So do the math and you'll see no matter which way you slice it at 2.5c and a mkt cap of $7.5m its cheap given the potential upside it offers

Good account of the project's potential YT. Looking forward to the next few weeks, as we'll be closer to the geologist report being released.

 

[Drubula]

Re: NSL - NSL Health

In the month of April the market hopefully receive the GAO’s report coinciding with a JV meeting with AIO to define the exploration program. My question is this. Why would a company have a meeting to define an exploration program if and I say if assay results known by NSL are not in accord with their pre Dec 2007 announcement.

I have been checking daily on Indian IO sites hopefully to understand the potential of Karalla and what benefits if any it will reward AIO and NSL.

I previously invested in GWR and got out to invest in Nil’s potential


Presently this stock only shows potential, but should the GAO’s report become positive, then the market will certainly take note.

Which other 2cent small cap stock offers potential like NSL, presently none. As to the future SP all I can say it’s all hypothetical until facts are known, but allot of upside if all things go to plan, maybe?

Lets see if NSL are true to their word, as communication is paramount in informing investors on project updates which of late NSL have been somewhat leaving their investors in the dark. That is why I commented on the project update last week as the original update was to open ended and vague, why who knows, but people investing in speccies like NSL should do their own research especially in today’s climate.

Good luck for all NSL holders as patience is a virtue.

Drubs

 

[kash]

Re: NSL - NSL Health

Buyers are starting to build up as the time gets closer for the Geo report. Hopefully they do not delay issueing this ann or this will be short lived

 

[Drubula]

Re: NSL - NSL Health

Geo report is expected sometime in April. Maybe someone knows something for there to be such interest today. But I agree if no announcement soon, people may drop off although the stock has held up well in recent times.

Drubs

 

[metric]

Re: NSL - NSL Health

is there an specified date for the ann?

looking the the buy/sell ratio should see the SP rise today. price is up already this morning.

 

[irondragon]

Re: NSL - NSL Health

is there an specified date for the ann?

looking the the buy/sell ratio should see the SP rise today. price is up already this morning.

NSL has not given a specified date for any 'expected' announcements. NSL's words, from 2nd April announcement : - 'outcome of the review has been delayed'.

'Austind is in the process of reviewing and processing all of the available new data. Once this task has been completed, NSL will pass the information onto the Independent Geologists to be incorporated into their report. Upon receiving all of the new data from Austind, it is expected that the Independent Geologists will be in a position to finalise their report and comment on the exploration potential of the Project'.

NSL also stated in their latest announcement dated 2nd April -
'Details of the exploration program will be released to ASX in due course '.

 

[Drubula]

Re: NSL - NSL Health

Spot on Irondragon, as I also spoke to Faldi on Monday and he was very upbeat about the present situation without giving anything away. I have been speaking to Faldi on a regular basis and also with Sean and my understanding is once the Geo's report is received (no timeline given) a meeting will be arranged with AIO before any announcement is issued to the market and as to when, he was unable to give any indication other than all due diligence will be carried out by the company as one would expect to prove or disprove the targetted IO resource of 200mt or its equivalent.



Drubs