Nsl consolidated limited

[SCHUMACHER]

This stock caught my eye and bought in earlier - they are at stage 3 of their delivery of equipment
THIRD DELIVERY OF PHASE TWO WET PLANT ARRIVES ON SITE

"NSL, the only Australian or foreign company to own and operate in India’s massive iron ore
market, has an established dry processing plant operation for iron ore product at Kurnool
and is serviced by two of its local mines nearby, Kuja and Mangal. These mines will also
provide the feedstock for the Phase Two wet beneficiation plant."

- this is going to become an exciting stock IMO - read on - market taking notice and 40 million shares traded today up 21% for day so far - should go much higher based on plant development - some calling it the "RIO Tinto OF iNDIA lol

A bit excited i suspect but hey you never know :)
__________________________________________________ ___________________________
HIGHLIGHTS
 Third stage delivery of equipment has cleared port and has begun arriving on site.
 Delivery will occur in stages according to the Company’s desired schedule.
 Phase Two wet beneficiation plant on schedule for Q3 2016 commissioning and Q4
2016 positive cash flow.
__________________________________________________ ____________________________________
NSL Consolidated Limited (Company, ASX: NSL, NSLO), is pleased to provide an update on
its Phase Two wet beneficiation plant program. As announced on 21 March 2016, the
Company entered into a ground-breaking equipment supply agreement with Shandong
Huate Magnet Technology Co. Ltd or Huate Magnetism (Huate), one of China’s premier
global beneficiation plant suppliers (refer http://www.chinahuate.com/).
Significant steps forward continue, with the third stage delivery now having cleared
customs and arriving on site for unloading. The delivery schedule to site is going according
to the Company’s desired timelines.
Equipment arriving on site
Managing Director, Mr Goode commented:
“Visible progress for stakeholders on the wet beneficiation plant is really starting to
accelerate as the project will soon move to the erection stage in the coming
weeks. The team in India are doing a fantastic job, with the project on schedule to
be commissioning this quarter and cash flow positive in Q4 this year. It is a very
exciting time for the Company and its Shareholders.”
Huate Wet Plant Agreement Details
Huate is a specialised beneficiation plant supplier, and is unique in China in that it has
capability in plant design, fabrication, construction, commissioning and supporting
operations of entire large scale beneficiation plants. Huate also has global experience in
iron ore beneficiation, including in Australia.
The agreement with Huate further supports the confidence in the Company’s Indian iron
ore projects and the larger scale Indian iron ore industry, an industry in Huate desires to
gain a position.
As highlighted in previous announcement the commercial terms as follows:
Capital cost: US$1,054,000

Mar 16 Apr 16 May 16 Jun 16 Sept 16 Dec 16 Feb 17
Phase Two is a wet beneficiation process, allowing NSL to produce a high grade premium
price iron ore product grading between 58-62% Fe at around 200,000 tonnes p.a.
The Company has already successfully negotiated offtake agreements for Phase Two’s
high grade iron ore product with the US$9 billion Indian global conglomerate, JSW Steel,
also that country’s leading private sector steel producer; and BMM Ispat, a leading pellet,
power and steel producer.
NSL, the only Australian or foreign company to own and operate in India’s massive iron ore
market, has an established dry processing plant operation for iron ore product at Kurnool
and is serviced by two of its local mines nearby, Kuja and Mangal. These mines will also
provide the feedstock for the Phase Two wet beneficiation plant.


a BIT MORE INFORMATION
http://www.aspectfinancial.com.au/docserver/01751942.pdf?fileid=01751942&datedir=20160627&edt=MjAxNi0wNy0xOSsxNDoxNToxNysxMjArNjEyMDg3ODIrZX RyYWRleG1sK3JlZGlyZWN0Ky9pbWFnZXNpZ25hbC9lcnJvcnBh Z2VzL0V0cmFkZVBERlRpbWVvdXQuaHRtbCsvaW1hZ2VzaWduYW wvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true

[mcdongle]

CR oversubscribed

[SCHUMACHER]

Huge interest in NSL and yes oversubscribed ---- im in for the long haul here - some big deals of offtake on the cards now - all debt retired in todays CR announcement and then BOOM !! THIS COMPANY will be HUGE IMO

rapid expansion about to happen

Check this statement out -------- "Offtake agreements already in place with India’s JSW Steel and BMM Ispat for
Phase Two product."

GLTA - THIS ONE WILL RUN HARD SOON- My personal prediction is approx 10c+ in 6 -12 month - DYOR !!!!

HIGHLIGHTS
 Placement commitments received for $3.4m equity raising to predominantly
investment funds, as part of transitioning the share register to include institutional
based investors.
 Demand significantly exceeds expectations by 70%, with Company targeting $2m,
closing book and accepting oversubscriptions of $1.4m. The placement was
conducted at a 21% premium to the 30 day VWAP.
 Raising completed to accelerate the purchase of an additional 200,000 tonnes per
annum plant in Q4 2016 for rapid expansion and provide flexibility to repay debt.
 Magna to retire security over Company and its assets.
 Phase Two wet beneficiation plant program continues on schedule in line with
project plan. Erection will commence prior to end July, commissioning to
commence in September 2016, and cash flow positive by end Q4 2016.
 Offtake agreements already in place with India’s JSW Steel and BMM Ispat for
Phase Two product.
 India, world’s fastest growing major economy at 7.6% GDP growth.
 Andhra Pradesh state on track for +14% growth for next 15 years as a result of
building a new state.
__________________________________________________ ____________________________________

The Company has engaged Sanlam Private Wealth as lead manager to the Placement.
Managing Director, Mr Goode commented:
“The Company continues its progression by attracting institutional investors to the
register in support of our business, as the only foreign company to own and operate
iron ore mines in India, and one of the very few listed companies with exposure to
the Indian growth opportunity

[SCHUMACHER]

MD- Check this out - this company is going to fly and as some say the new RIO TINTO of India !! :D

So from where i stand I see that NSL have the entire GOAP State government behind them and an expected 8 million tonnes of Iron ore production per annum - so basically NSL have been given fast track with The MoU, executed between NSL and the GoAP directly WOW ! and this announcement was back in January this year ....read below.........

Perth-based iron ore miner, NSL Consolidated Limited (Company, ASX: NSL, NSLO), is
pleased to update the market regarding its business development activities in the State of
Andhra Pradesh.
During the 10th – 12th January 2016 NSL representatives have attended the Andhra Pradesh
Investment Summit located in the port city of Visakapatnam, Andhra Pradesh.
The Summit, now in its 22nd iteration, was a joint program sponsored by the Chamber of
Indian Industry, Department of Industry and Policy Promotion (Govt of India) and the
Government of Andhra Pradesh (GoAP).
During the summit NSL executed a Memorandum of Understanding directly with the GoAP
to support the iron ore growth strategy within the state.

The MoU, executed between NSL and the GoAP directly, is overarching to the previous
MoU NSL have executed during 2015 with the AP Mineral Development Corporation (the
GoAP State mining Company), and covers the mining, beneficiation and pelletisation of
low grade iron ores in the State.

The basis of the MoU would position NSL to be producing in excess of 8 million tonnes per
annum of iron ore in the newly formed State. In addition, the MoU includes the construction
and operation of a centralised pellet plant, again reinforcing NSL’s strategy of value
addition in the Indian iron ore industry.
The MoU would also realise the generation of 1,800 jobs directly associated with the
Company, and an additional 1,000 supporting jobs.

GoAP will facilitate provision of necessary assistance for the Company which includes
prompt land acquisition, adequate infrastructure development and offering attractive
incentives as per the policies / rules and regulations of the State Government.

GoAP will support the Company’s participation in significant projects in Andhra Pradesh,
wherever feasible. Such participation may include providing advisory services/setting up
manufacturing facilities/ Infrastructure development/ R & D/ Implementation support.
The Company can support the development of infrastructure in Andhra Pradesh,
considering Government’s focus on promoting manufacturing and industrialization in the
state and facilitating conducive investment environment.

Both sides recognized the need to promote mutual cooperation to expand bilateral
collaborative relationship in industrial development in Andhra Pradesh and supported the
signing of Memorandum of Understanding.

One key enabler to the execution of the MoU was the AP Government committing to the
development of the Orvakallu Mega Industrial Hub, located in the Kurnool District some
30km from NSL’s existing operations. The 28,000 acre hub will include access to water,
power, rail and road. The site is also proposed for one of AP’s four greenfield airports
outlined in the strategic infrastructure plan for the State.

The MoU was executed during the Investment Summit, and was overseen by the
Honourable Chief Minister of Andhra Pradesh, Sri Chandrababu Naidu, and the Australian
Consul General for South India Mr Sean Kel

In addition, the alignment of “Make in India” as a key initiative being implemented by the
Modi Government in Delhi is being translated to a strong Make in AP platform by the State
Government. The need for the country to convert the percentage of GDP coming from
the Services industry and shifting to the manufacturing industry was seen as critical to
driving the required growth trajectory of the Country.
The most consistent message throughout the summit was regarding the Strength of
Leadership coming from the AP Chief Minister, Sri Chandrababu Naidu. His passion for the
State is clear, his track record of success is tangible, and his business friendly approach is
being seen permeating through all levels of his Government.
Key Facts
During a World Bank survey in 2015 Andhra Pradesh was rated as #2 state in India for ease
of doing business.
The 15-year business plan sees an expected14% growth rate projected out to 2029 for the
State, based on an aggressive infrastructure program for the new State including airports,
ports, highways and a new greenfield Capital City located at Amaravati.
The State has implemented a dedicated single window process for investments and
projects, with a guaranteed 21-day approval timeframe for all state permissions.

Two major initiatives that will impact on the State are the Vizag – Chennai and Bangalore
– Chennai infrastructure corridors. The Asian Development Bank is supporting the AP Govt
in the development of the Vizag - Chennai corridor. The $900m project will have $700m
funded by the ADB and $200m to be provided by the State Govt. This linkage is part of the
much larger Pan Asia land bridge connecting India to China and South East Asia.

[SCHUMACHER]

So in summary - the MOU is now advanced to a BINDING AGREEMENT as of 19th May this year - mark my words in that this companies shareprice could be a 10 bagger within 6-12 months for now -

Disclaimer: Please DYOR as this is not investment advice to BUY HOLD or sell NSL :D

HIGHLIGHTS
 NSL executes MoU to support 5 year growth strategy in Andhra Pradesh.(updated - As announced on May 19, the Company had signed a MOU with Wei Hua, China’s
leading heavy equipment crane building company, for the establishment of a steel
making plant in Andhra Pradesh.
The MOU has progressed and is now superseded by the execution of a binding
agreement for joint development as both parties consolidate their understanding and
establish the conditions and activities to be carried out prior to the execution of final
Shareholder and operating agreements for the proposed project.

 MoU executed directly with State Government of Andhra Pradesh (GoAP).
 MoU to unlock significant iron ore production potential for NSL in the newly formed
State.
 GoAP will facilitate provision of necessary assistance for the Company which
includes prompt land acquisition, adequate infrastructure development and
offering attractive incentives.
 MoU reinforces NSL’s strategy of value addition in the Indian iron ore industry.
 Huge 28,000 acre industrial park to be developed 30kms from NSL’s operations.
 More than 1,400 delegates from 42 countries attend Investment Summit.
 Andhra Pradesh on track for +14% growth for next 15 years as a result of building a
new state.

So heres the deal with Wei Hua as stated with ASX announcement on 27th June- this will be a massive company

Wei Hua also brings strong ties with the Asia Infrastructure Investment Bank (AIIB). The AIIB
is a newly established international financial institution that aims to support the building of
infrastructure in the Asia-Pacific region. The bank has 37 member states and was
proposed as an initiative by the government of China. The capital of the bank is $100
billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about half
that of the World Bank.

Wei Hua views the Indian economy as one of the most attractive up and coming
investment opportunities in the world. India is expected to become the world's second
largest producer of crude steel in the next 10 years, moving up from the third position, as
its capacity is projected to increase to about 300 MT by 2025 from 81 MT in 2013-14. Huge
scope for growth is offered by India’s comparatively low per capita steel consumption
and the expected rise in consumption due to increased infrastructure construction and
the thriving automobile and railways sectors.

In addition to this, Wei Hua also sees significant value in what NSL has been able to
achieve in India, as the only foreign company to own and operate iron ore mines and
also with the significant progress made by the Company with the GoAP as part of its
existing MOU.
As announced previously, the Company had signed an MOU directly with GoAP,
whereby GoAP will facilitate the necessary assistance for the Company to grow its
Andhra Pradesh mining, beneficiation and value addition activities to in excess of 8
million tonnes per annum of iron ore production. This support could include prompt land
acquisition, adequate infrastructure development and offering attractive incentives as
per the policies / rules and regulations of the State Government.

In addition, the GoAP will support the Company’s participation in significant projects in
Andhra Pradesh, wherever feasible. Such participation may include providing advisory
services, setting up manufacturing facilities, Infrastructure development, R&D, and
implementation support. Through this relationship, the Company is aiming to support the
development of infrastructure in Andhra Pradesh and leverage the Government’s focus
on promoting manufacturing and industrialization in the state and facilitating a
conducive investment environment.

One key enabler to the execution of the MoU was the GoAP committing to the
development of the Orvakallu Mega Industrial Hub, located in the Kurnool District some
30km from NSL’s existing operations. The 28,000 acre hub will include access to water,
power, rail and road. The site is also proposed for one of AP’s four greenfield airports
outlined in the strategic infrastructure plan for the State. The Company will be proposing
utilising this industrial hub as a foundation for the binding agreement with Wei Hua, and
continues to leverage the GoAP MOU, with discussions on providing the approvals for the
land, power, water and other utilities for the steel project already commenced.

Key Terms of Agreement
The Joint Venture Company will be established with a 50/50 shareholding and
importantly, NSL is not required to fund any aspect of the JV.
NSL shall provide reasonable assistance to Wei Hua for the feasibility studies, including the
latest market research report on the Iron and Steel industry in India which will assist in
determining the size and scale of the proposed steel plant project.

NSL shall conduct a study to understand the governmental approvals, licences,
consents, no-objections etc. required from statutory, governmental and other authorities
under the laws of India for the proposed project, setting up of the JV, and
commencement of the preliminary activities for the project. This will be undertaken, in
consultation with Wei Hua and NSL shall seek reasonable assistance from Wei Hua.

NSL shall commence the preliminary activities for obtaining and providing the legal and
regulatory approvals, accessing available land and shall take all appropriate steps
towards the supply of supplementary materials and human resources.
NSL shall thereafter be responsible for the operations, commercial marketing and sale of
the steel products, on an exclusive basis.

Wei Hua shall carry out its feasibility for the steel market in India from a technical,
financial and legal perspective, with reasonable assistance from NSL where sought by
Wei Hua.

Wei Hua shall provide the equipment which shall be delivered free of charge and as per
a mutually-acceptable delivery schedule, prepared by both parties.
The Parties shall jointly discuss and finalise JV Shareholder and Operating Agreements in
a timely manner, post completion of feasibility studies.
Both Parties shall collectively approach and apply for financing from Asian Infrastructure
Investment Bank and shall collectively ensure that the proposed project contributes to
enhancing the welfare of the local community and economic and social development
in the area.
The binding agreement is valid for a period of 12 months, or as extended by the parties in
writing; or either party may terminate by giving 30 days notice.
This announcement will release the Company from its trading halt.
CONTACT:
Cedric Goode
NSL Consolidated
+61400 408 477_______________________________________

[mcdongle]

Have been doing a lot of reading this weekend it does look good

[SCHUMACHER]

Have been doing a lot of reading this weekend it does look good

yes one of the key take aways from these comments is that the state Govt are going through a massive infrastructure boom and Asian investment banks also involved - NSL management have done a terrific job so far to get this plant expanded and its more to come -

In terms of shareprice well - lets let the market decide on this one however i personally think the market is asleep - India is one of the very few economies that is going to grow their GDP by between 7 to 8% for next 15 years not to mention MASSIVE infrastructure growth - india will need 300MT by 2025 so if we can produce near to 8 million tonne per annum @ 55 tonne that is $440,000,000 per annum ( if iron ore price increases then even better - insane (NSL could be India's new RIO TINTO ) - lets say an ebitda of 30% then we looking at 146 million per annum

"Wei Hua views the Indian economy as one of the most attractive up and coming
investment opportunities in the world. India is expected to become the world's second
largest producer of crude steel in the next 10 years, moving up from the third position, as
its capacity is projected to increase to about 300 MT by 2025 from 81 MT in 2013-14. Huge
scope for growth is offered by India’s comparatively low per capita steel consumption
and the expected rise in consumption due to increased infrastructure construction and
the thriving automobile and railways sectors.

it would not surprise me to see this at 10c my end of September but ill take 6-8c as it will only get better as they continue to ramp up production - NSL in a STRONG POSITION!!

As much as I like RNU - im considering shifting some more of my capital from RNU into NSL today into this beast in the making - India is the place to invest right now - RNU is going well but NSL is currently operational and in demand and generating cashflow which could see our market cap at many multiples of todays price

As always DYOR

[baller18]

Lrs vs nsl, where would you put your money on? Thanks

[SCHUMACHER]

Lrs vs nsl, where would you put your money on? Thanks

LRS - IS A lithium PUNT - ( high risk and we need to get it derisked first before throwing too much money at it IMO) they havent drilled anything yet and awaiting land approvals from Argentinian government - if you were being careful then NSL is much better play as they have operations, processing facilities and binding agreements whereas LRS only have a shovel and no Land approvals - :)

cant really compare companies to be honest - im buying more NSL today if thats any help of where my head is at

NSL
The basis of the binding agreement has positioned NSL to be producing in excess of 8 million tonnes per
annum of iron ore in the newly formed State. In addition, the binding agreement includes the construction
and operation of a centralised pellet plant, again reinforcing NSL’s strategy of value
addition in the Indian iron ore industry.
NSL - has positioned itself well , as have i :D

wait till the market wakes up - we are fortunate to find such a well oiled outfit - management superb and have got the management, operational, financial clout and major binding off take agreements to take this to dizzy heights now

Disclosure: I hold both

[mcdongle]

picked some up today..:)

[SCHUMACHER]

picked some up today..:)

Well done - 2.2/2.3c is a good entry price with a L/T view - traders will buy and sell for a pip either way however the ones who can resist and hold until production ramps up and they complete their current installation will win - i got a few more at 2.2c yesterday which i was admittedly surprised it went back a pip but then again traders close the markets and there are plenty of them - thats why we have to go for the growth proposition here and we will be in great shape in 6 -12 months - i actually sold 20% of my holdings in the mid to high 4's in RNU as the run up from my 1.8c entry was excellent and bought more in NSL for obvious reasons that i explained yesterday :)
RNU still on my radar but this prospect is also very exciting and we have binding agreements now
Patience is a virtue IMO

NSL is likely to cough and splutter this week and i expect a move up in a few short weeks so good time to accumulate

[SCHUMACHER]

MD
Topped up more today - great Opportunity with recent CR at 2c to sophisticated investors - should run up in a week or two :)

[Pipi]

I picked up some today, and also as part of my purchase my 10 year old daughter put in $290 of her hard earned pocket money. Hopefully it will do well for her first soiree into the stock market. I'm trying to get her interested in saving and investing young. The whole compounding interest and building wealth thing. She is currently more interested in buying Shopkins, but hopefully this will change.

[macduffy]

Not sure I'd encourage a child into such a stock but it will either hook her or put her off the sharemarket for life!

[mcdongle]

Yes just got to wait for things to get going

[SCHUMACHER]

Another great announcement !!!- looking good :)



PHASE TWO WET PLANT ERECTION STAGE COMMENCES
__________________________________________________ ___________________________
HIGHLIGHTS
 Phase Two wet beneficiation plant moves into the erection phase with the
erections of transformers at the electrical switchyard and control room.
 Ball mills arrived on site and have been successfully unloaded.
 Phase Two wet beneficiation plant on schedule for September 2016 commissioning
and Q4 2016 positive cash flow.
__________________________________________________ __________________________________
NSL Consolidated Limited (Company, ASX: NSL, NSLO), is pleased to provide an update on
its Phase Two wet beneficiation plant program. As announced on 21 March 2016, the
Company entered into a ground-breaking equipment supply agreement with Shandong
Huate Magnet Technology Co. Ltd or Huate Magnetism (Huate), one of China’s premier
global beneficiation plant suppliers (refer http://www.chinahuate.com/).
Significant steps forward continue, with the wet beneficiation plant now commencing the
erection stage and the ball mills successfully arriving and being unloaded at site. The 5MVA
and 2.5MVA transformers underwent final inspection testing and shipment from
Hyderabad, and were erected on site in readiness for grid power connection.
Transformer Unloading and Erection
Transformer Erection
In addition, the largest components of the plant cargo from China was delivered to NSL’s
site and unloaded during the week. The ball mill transportation, with each more than 9
metres in length and weighing over 35 tonnes, was a complex task that involved significant
community interaction and support.
Ball Mill Arrival Through Local Village
Ball Mills Arrival On Site
Ball Mill Unloading
Huate Wet Plant Agreement Details
Huate is a specialised beneficiation plant supplier, and is unique in China in that it has
capability in plant design, fabrication, construction, commissioning and supporting
operations of entire large scale beneficiation plants. Huate also has global experience in
iron ore beneficiation, including in Australia.
The agreement with Huate further supports the confidence in the Company’s Indian iron
ore projects and the larger scale Indian iron ore industry, an industry in Huate desires to
gain a position.
As highlighted in previous announcement the commercial terms as follows:


Phase Two is a wet beneficiation process, allowing NSL to produce a high grade premium
price iron ore product grading between 58-62% Fe at around 200,000 tonnes p.a.
The Company has already successfully negotiated offtake agreements for Phase Two’s
high grade iron ore product with the US$9 billion Indian global conglomerate, JSW Steel,
also that country’s leading private sector steel producer; and BMM Ispat, a leading pellet,
power and steel producer.
NSL, the only Australian or foreign company to own and operate in India’s massive iron ore
market, has an established dry processing plant operation for iron ore product at Kurnool
and is serviced by two of its local mines nearby, Kuja and Mangal. These mines will also
provide the feedstock for the Phase Two wet beneficiation plant.
CONTACT:
Cedric Goode
NSL Consolidated
+61400 408 477

[SCHUMACHER]

Looking forward to this ramping up - not long to wait and we had a great announcement out yesterday - everything lining up for NSL to take off soon and the announcement below shows the government serious in supporting NSL :)


NSL Consolidated
1 August 2016
GOVERNMENT ASSURANCES - GREENFIELD STEEL PLANT JV
__________________________________________________ ___________________________
HIGHLIGHTS
 Andhra Pradesh Government (GoAP) issues letter of assurance to the Company for
land and approvals.
 GoAP commits to provide land for the project and required approvals through a
21 day single portal process when applications made.
 Company and Wei Hua progress selections of feasibility providers and EPC
companies.
__________________________________________________ ___________________________________
NSL Consolidated Limited (Company, ASX: NSL, NSLO), is pleased to announce further
significant progress on the Binding Joint Venture Agreement (JVA) for the establishment of
a greenfield steel making plant in Andhra Pradesh as announced on 27 June 2016.
As previously announced the Company has signed a JVA with the Wei Hua Group Co Ltd,
China’s leading heavy equipment crane building company, for the establishment of a
steel making plant in Andhra Pradesh.

Company representatives have been in China with Wei Hua meeting various feasibility
service providers, Engineering, Procurement and Construction (EPC) companies, with the
view to the Company and Wei Hua working closely together to fast track the feasibility of
the integrated steel plant.

Further to the traction being achieved in China, the Company continues to receive
excellent support from the GoAP, culminating in the receipt of a letter stating assurances
from GoAP to extend all support and cooperation required for the development of the
project, and specifically to provide required land and other approvals through a single
desk portal within 21 days of receipt of application(s).

The letter, received from the Chief Secretary of GoAP, being the highest level bureaucrat
in the State, is again further testament to the bona fides and regard the Company is held
with GoAP.

The Company has also commenced the market research and other feasibility actions in
India as required under the terms of the JVA.
As announced previously, the Company had signed an MOU directly with GoAP, whereby
GoAP will facilitate the necessary assistance for the Company to grow its Andhra Pradesh
mining, beneficiation and value addition activities to in excess of 8 million tonnes per
annum of iron ore production, which includes prompt land acquisition, adequate
infrastructure development and offering attractive incentives as per the policies / rules and
regulations of the State Government.

In addition, the GoAP will support the Company’s participation in significant projects in
Andhra Pradesh, wherever feasible. Such participation may include providing advisory
services, setting up manufacturing facilities, Infrastructure development, R&D, and
Implementation support. Through this relationship, The Company is aiming to support the
development of infrastructure in Andhra Pradesh, and leveraging the Government’s focus
on promoting manufacturing and industrialization in the state and facilitating a conducive
investment environment.

One key enabler to the execution of the MoU was the GoAP committing to the
development of the Orvakallu Mega Industrial Hub, located in the Kurnool District some
30km from NSL’s existing operations. The 28,000 acre hub will include access to water,
power, rail and road. The site is also proposed for one of AP’s four greenfield airports
outlined in the strategic infrastructure plan for the State. The Company will be proposing
utilising this industrial hub as a foundation for the binding agreement with Wei Hua Group,
and continues to leverage the GoAP MOU, with discussions on providing the approvals for
the land, power, water and other utilities for the steel project already commenced.

Wei Hua Group Co Ltd
Wei Hua Group Co Ltd, with revenues in excess of US$1 billion in 2015, has already acquired
key components of the proposed steel making plant and these are warehoused in China
and ready for deployment, with the remainder to be purchased as required, based on
Indian progress. Wei Hua is looking to diversify its revenue stream, both in location and
source generation (Reference http://www.weihuagrp.com/).
Blast furnace shell in Chinese warehouse

The Wei Hua Group also brings strong ties with the Asia Infrastructure Investment Bank (AIIB).
The AIIB is a newly established international financial institution that aims to support the
building of infrastructure in the Asia-Pacific region. The bank has 37 member states and
was proposed as an initiative by the government of China. The capital of the bank is $100
billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about half that
of the World Bank.

Wei Hua views the Indian economy as one of the most attractive up and coming
investment opportunities in the world. India is expected to become the world's second
largest producer of crude steel in the next 10 years, moving up from the third position, as
its capacity is projected to increase to about 300 MT by 2025 from 81 MT in 2013-14. Huge
scope for growth is offered by India’s comparatively low per capita steel consumption and
the expected rise in consumption due to increased infrastructure construction and the
thriving automobile and railways sectors.

In addition to this, Wei Hua also sees significant value in what NSL has been able to achieve
in India, as the only foreign company to own and operate iron ore mines and also with the
significant progress made by the Company with the GoAP as part of the existing joint MOU.

Key Terms of Agreement
The Joint Venture Company will be established with a 50/50 shareholding and importantly,
NSL is not required to fund any aspect of the Joint Venture.
NSL shall provide reasonable assistance to Wei Hua for the feasibility studies, including the
latest market research report on the Iron and Steel industry in India which will assist in
determining the size and scale of the proposed steel plant project.

:D

NSL shall conduct a study to understand the governmental approvals, licences, consents,
no-objections etc. required from statutory, governmental and other authorities under the
laws of India for the Proposed Project, setting up of the JV, and commencement of the
preliminary activities for the project. This will be undertaken, in consultation with Wei Hua
and NSL shall seek reasonable assistance from Wei Hua.

NSL shall commence the preliminary activities for obtaining and providing the legal and
regulatory approvals, accessing available land for the Proposed Project and shall take all
appropriate steps towards the supply of supplementary materials and human resources
for the Proposed Project.

NSL shall be responsible for the operations, commercial marketing and sale of the steel
products from the Proposed Project, on an exclusive basis.
Wei Hua shall carry out its feasibility for the steel market in India from a technical, financial
and legal perspective, with reasonable assistance from NSL where sought by Wei Hua.
Which will assist in determining the size and scale of the Proposed Project.
Wei Hua shall provide the equipment for the Proposed Project. The equipment shall be
delivered free of charge and as per a mutually-acceptable delivery schedule, prepared
by both parties.

The Parties shall jointly discuss and finalise JV Shareholder and Operating Agreements in a
timely manner, post completion of feasibility studies.
Parties shall collectively approach and apply for financing from Asian Infrastructure
Investment Bank for the Proposed Project.

Parties shall collectively ensure that the Proposed Project results in the welfare of the local
community and economic and social development in the area of the Proposed Project.
The Binding Agreement is valid for a period of 12 months from the Commencement Date,
or as extended by the Parties in writing; or Either Party may terminate this Agreement by
giving a notice of 30 days to the other Party on the date so stipulated in the notice (or any
extended date provided by the party serving the notice), unless the party sending the
notice withdraws the same prior to the said date (or prior to any extended date thereof).

[SCHUMACHER]

NSL in a holding pattern at 2c / 2.1c - once wet mill is up and commissioned it should move up - offtake agreements in place so its sit and wait for some action - recent capital raising still dark cloud for now as they issued alot of script but this will be forgotten when they get into full swing production

Patience is a virtue in this game we are all playing :)

[SCHUMACHER]

Bought more NSL today - still like the story unfolding so happy to wait :)

GLTA

Others opinions welcome

[bung5]

Bought more NSL today - still like the story unfolding so happy to wait :)

GLTA

Others opinions welcome

Great run of late. looking forward to free carrying this one and sitting on it for 5 years while the growth continues to 8Mt a year.

[Rawiri]

Nsl enters into a trading halt pending the release of a PO of the phase two wet plant product! Exciting things happening in India at the moment!