NSL expands its customer base in India with new order

By Trevor Hoey. Published at Jul 19, 2017, in Mining

In updating the market regarding the progress of its Phase 2 Wet Beneficiation Plant, NSL Consolidated (ASX: NSL) advised that it had expanded its customer base with sales to commence directly to the Indian steel industry.

The 4,000 tonne order from Minera Steel and Power Pvt Ltd is for the supply of 60/61% Fe filter cake (wet plant product) on commercial terms similar to other orders.

NSL already has an active distribution base within India through agreements with Infinity Ores. The company has delivered approximately 10,000 tonnes of feed which has not yet required dispatch of wet plant product under its purchase orders.

Those considering this stock shouldn’t make assumptions regarding future sales, nor should they base investment decisions on performances to date. Those considering this stock should seek independent financial advice.

This significant development comes only a month after the company received a 20,000 tonne purchase order for the same quality ore with a sales price of $67 ex-gate. This came at a time when there was a strengthening in the local domestic iron ore market.

NSL’s Managing Director, Cedric Goode, noted at the time the order was received that the company was ramping up to its 200,000 tonne per annum plant capacity of final concentrate as efficiently and effectively as possible.

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.

Thanks for subscribing!