NSL plant issues rectified and iron ore samples sent to China for testing.
Indian based iron ore producer, NSL Consolidated (ASX: NSL) announced on February 28 that it had experienced plant problems which could impact production, prompting the company’s shares to fall from the previous day’s close of 3.7 cents to 3.3 cents, a decline of circa 10%.
Management noted at the time that the problem should be rectified in the near term, and it delivered on that promise on Wednesday, notifying the market that iron ore slurry pump replacement parts had been fitted and that the pumps were now operational.
In tandem with these developments has been the finalisation of employment arrangements which will allow the company to commence 24-hour operations from late April.
It has been an interesting period from a marketing perspective, and one that could be promising. The company has just sent samples of NSL produced iron ore product to China for testing by customers, the results of which could boost demand for the group’s product.
It would appear this news has been positively received with NSL’s shares hitting a high of 3.5 cents in the first hour of trading.
It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
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.
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.