Iron ore & coal explorer NSL wins legal case

By Meagan Evans. Published at Feb 13, 2018, in Mining

NSL Consolidated Ltd (ASX:NSL) yesterday emerged from a trading halt, announcing that it had won a legal battle brought against it by Coal Hub Pty Ltd in August 2016.

NSL is a dual bulk commodity company, with iron ore production in India and thermal coal exploration in Australia.

On 9 February 2018, her Honour Justice Banks-Smith handed down her judgment. She found that NSL did not repudiate the Coal Acquisition Agreement dated 15 June 2011, as alleged. While NSL breached an implied term by certain delays on its part, in the circumstances its conduct has been deemed not of the nature of a repudiatory breach — therefore Coal Hub is entitled to nominal damages in the sum of A$1,000.

Coal Hub’s claim is otherwise dismissed. The issue of legal costs is to be referred to a judge to be determined in chambers at a future date.

The damages sought by Coal Hub were A$2.5 million plus costs and interest. NSL maintained that as it did not obtain unfettered access, it had no obligation to undertake drilling and in any event, it would not have established Inferred or Indicated coal resources of 500 or 250 million tonnes respectively (which would have given rise to the further payments).

In its announcement, NSL stated it feels vindicated by the Supreme Court of Western Australia’s decision, and will now make an application to seek a contribution to its legal costs from Coal Hub, Subiaco Capital and its two directors, pursuant to personal undertakings as to costs.

It’s worth noting that NSL is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.

Moving on from the decision, NSL are well positioned to unlock considerable value during the course of 2018, with a strong customer base and growing production profile.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!