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interessant
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witzig
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gut analysiert
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informativ
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In Indien allerdings legte der Sensex robuste 1,0 Prozent auf 17.362 Punkte zu. Thailands SET gewann 0,3 Prozent auf 1194 Zähler hinzu.
Ein weiterhin erfreuliches Umfeld für NSL...
Quelle:
http://www.emfis.de/global/global/nachrichten/..._steigt_ID99724.html
Gruß
ixurt
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NSL Consolidated
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Friday, March 30, 2012 by Christine Feary
NSL Consolidated (ASX: NSL) is nearing the completion of the phase two wet iron ore beneficiation plant which will be situated in southeast India.
Commissioning on individual equipment components for the Phase One crushing, screening and dry separation dry plant is continuing, with NSL targeting initial steady production of 200,000 beneficiated tonnes per annum.
NSL is on track to achieve sales revenue from the Kurnool plant in the first six months of 2012.
Work is underway to determine the potential to increase the production over and above the targeted rate of 200,000 tonnes per annum with the incorporation of phase one and two production.
As part of the phase two beneficiation process, the wet beneficiation plant will continue to be constructed and commissioned through the first half of 2012, with completion and first sales contribution in the first six months of 2013.
The Kurnool stockyard is a 12 acre industrial site located adjacent to NSL’s existing Kuja iron mine in Andhra Pradesh. The stockyard will source its iron from the nearby Mangal iron ore mine.
Start-up commenced at Mangal earlier this month to produce the first mainstream ore that will provide sustained plant feedstock once the plant moves from commissioning to steady state production.
Stockpiles from Mangal are being transferred to the stockyard to use as beneficiation plant feedstock.
Potential for Growth
NSL is continuing to assess complimentary new bulk commodity mining opportunities to expand its potential production base in Andhra Pradesh.
During the December quarter the company continued to progress several opportunities for either outright acquisition and/or joint venture structured agreements over multiple projects across India, together with additional Australian coal tenements.
The company’s dual bulk commodity focus provides it with the opportunity to link its maiden iron ore start-up operations and first revenues with its exploration and development of the Queensland thermal coal assets.
google Übersetzung--------------
NSL Konzern Fortschritte zweiten Phase indischen Eisenerz-Aufbereitungsanlage
Freitag, 30 März, 2012 von Christine Feary
NSL Konzern ( ASX: NSL ). nähert sich dem Abschluss der Phase zwei nassen Eisenerz Aufbereitungsanlage, die im Südosten Indiens wird Inbetriebnahme einzelner Geräte-Komponenten für die Phase One Brechen, Sieben und wird trocken Trennung trockene Pflanze fort, mit NSL Targeting anfänglichen stationären Produktion von 200.000 Tonnen pro Jahr aufbereitetes. NSL ist auf dem Weg zu den Umsatzerlösen aus dem Kurnool Werk in den ersten sechs Monaten des Jahres 2012 zu erreichen. Es wird daran gearbeitet, um das Potenzial zu ermitteln, um die Produktion, die über die gezielte Rate von 200.000 erhöhen Tonnen pro Jahr mit dem Einbau von Phase eins und zwei Produktionsstätten. Im Rahmen der Phase zwei Aufbereitung Prozess, wird der nassen Aufbereitungsanlage weiterhin gebaut und durch die erste Hälfte des Jahres 2012 in Betrieb genommen werden, die Fertigstellung und erste Verkäufe Beitrag in den ersten sechs Monaten des Jahres 2013. Die Kurnool Viehhof ist eine 12 Hektar große Industriebrache grenzt an bestehende Kuja NSL der Erzmine in Andhra Pradesh. Der Lagerplatz wird seine Quelle Eisen aus dem nahe gelegenen Mangal Eisenerzgrube. Start-Up begann um Mangal Anfang dieses Monats, um die erste Mainstream-Erz, das nachhaltige Rohstoff-Anlage, wenn die Anlage bewegt sich von der Inbetriebnahme bis Steady-State-Produktion liefern produzieren wird. Lagerbestände von Mangal sind mit dem Viehhof übertragen als Aufbereitungsanlage Ausgangsmaterial arbeiten wollen. Potenzial für Wachstum NSL weiterhin kostenlos neue Massenware Bergbau Chancen beurteilen zu sein Potenzial Produktionsbasis in Andhra Pradesh zu erweitern. Während der Dezember-Quartal das Unternehmen weiterhin mehrere Möglichkeiten für die beiden geradezu voran Erwerb und / oder Joint Ventures strukturierte Vereinbarungen über mehrere Projekte in Indien, zusammen mit weiteren australischen Kohle Mietskasernen. des Unternehmens Dual Massenware Fokus bietet es die Möglichkeit zu seiner Jungfernfahrt Eisenerz verknüpfen Start-up-Betrieb und erste Umsätze mit der Exploration und Entwicklung der Queensland thermische Kohle Vermögenswerte.
Quelle proactivinvestor
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NSL Consolidated 19 April, 2012 SIGNIFICANT MILESTONE ACHIEVED - SALEABLE IRON ORE MATERIAL PRODUCED __________________________________________________ HIGHLIGHTS First saleable beneficiated iron ore produced during Indian commissioning stage Iron ore grade of 58% achieved on dry separation circuit Staged commissioning continues On target for first sales revenue by end 1st half 2012 __________________________________________________ The Directors of NSL Consolidated Ltd (NSL or Company) are pleased to report that construction and commissioning of the Phase one Kurnool iron ore dry separation plant in India continues on time and budget and has achieved a significant milestone this week with the production of first saleable beneficiated iron ore. Importantly, the beneficiated iron ore grade achieved was up to 58% with further process optimisation continuing. Currently, 58% Fe iron ore sells domestically at the mine gate for approximately 4500INR/t (approx US$90/t).
The Company notes that this production occurred through the Phase 1 dry separation circuit whilst commissioning individual equipment components. The Company expects saleable grades of up to 58% Fe to continue, and small scale volumes to increase as NSL progressively ramps up the commissioning process over the remainder of 1H 2012. Given the strength in both demand and pricing of the domestic iron ore market, it is likely NSL may prioritise domestic ex-gate sales ahead of export opportunities.
The Company views the production of first saleable beneficiated iron ore as a milestone and is aiming at a Phase 1 initial steady production rate of 200,000 beneficiated tonnes per year and remains on track for sales revenue from Kurnool in the 1H 2012. The Phase 2 wet beneficiation plant process, which is capable of producing final product grades of between 58-62% Fe, with a capacity of an additional 200,000 tonnes per annum, will be brought into operation later in 2012 with completion and sales first half 2013. Perth-based NSL is the only foreign company to own and operate iron ore mines in India.
CONTACT: Cedric Goode NSL Consolidated 0400 408 477 Kevin Skinner Field Public Relations (08) 8234 9555 / 0414 822 631.
http://media.wotnews.com.au/asxann/01288754.pdf
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http://de.finance.yahoo.com/...alues=0;logscale=off;source=undefined;
+ 7,14 % :-)
und das bei diesem mehr als momentan miesen Marktumfeld...
(wird wegen der Frankreich-Wahl von Europa kurz auf USA, Kanada und Australien übergreifen und Bäuerchen verursachen. Erholung wahrscheinlich ab Juni wegen den US- Wahlen )...
die Umsätze ebenfalls schon recht gut...
das Marktumfeld scheint NSL nicht zu interessieren
(man stelle sich vor wo der Kurs bei einem besseren Allgemeinmarkt wäre?)...
die Konso scheint vorbei zu sein...
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NSL Consolidated
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India: The NSL Consolidated has earned a milestone by delivering the first saleable iron ore products from the Kurnool plant, the India based iron ore dry separation plant. In the first phase of Kurnool plant production, 58 percent iron ore was achieved and iron ore products of this scale earns about 90 USD per tonne in the domestic market.
Moreover, with the demand for iron ore products growing in the domestic market, the NSL Consolidated has decided to focus on the domestic market and is on the lookout for good opportunities. The Kurnool metal products stockyard is spread over 12 acre industrial lands, adjacent to the Kuja iron mine in Andhra Pradesh. All the iron ore coming to the stockyard will be sourced from Mangal iron ore mine located nearby.
The first phase commenced in March and at the moment, the target of NSL is to produce 200,000 tonnes of iron metal products per year, at least during the first phase of operations. The NSL Consolidated plans to earn revenue from this in the first six month of operations commencement. The company plans to increase the volume of small scale production and maintain the 58 percent target in saleable iron ore products.
http://www.metdaq.com/en/press-centre/news/nsl-delivers-sale…
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First iron ore sales are a major milestone in NSL’s transition to production, and highlight the company’s strategy of focusing on domestic sales, to take advantage of strength in demand and prices in India.
NSL Consolidated (ASX: NSL) is continuing to make the transition to cash flows, achieving the milestone first ex gate sales of iron ore into the Indian domestic market.
The company is targeting an initial steady production rate of 200,000 beneficiated tonnes per annum from the first phase of operations at the Kurnool stockyard, with beneficiated grades of up to 58% achieved last month.
A 58% iron ore product sells domestically for about US$90 per tonne, meaning that at 200,000 tonnes per annum production, NSL is looking at first phase revenue of $18 million.
In Phase 2 of the project, NSL aims to ramp up production to 400,000 tonnes per annum at higher grades of between 58% and 62% iron.
Given the strength of the domestic Indian iron ore market in both demand and pricing, NSL has said it may prioritise domestic sales at the gate ahead of export opportunities.
NSL managing director Cedric Goode said the company was only just beginning its journey, with an aim of achieving production of 1.5 million tonnes per annum by the end of 2014.
“This target [is] possible through bolt on wet and dry separation plants and increase output, together with sourcing additional ore feed through strategic acquisitions and supply agreements,” Goode said.
“With the increase in funds being allocated to infrastructure projects, Indian domestic steel production is expected to increase from 77 million tonnes to 200 million tonnes by 2020. The company looks forward to making its contribution as part of this growth.”
NSL is the only foreign company to own and operate iron ore mines in India.
The Kurnool stockyard in southeast India is a 12 acre industrial site located adjacent to NSL’s existing Kuja iron mine in Andhra Pradesh. The stockyard will source its iron from the nearby Mangal iron ore mine.
Construction and commissioning is continuing on the Phase 1 Kurnool iron ore dry separation plant, with final commissioning on track to occur prior to June 30, 2012.
The Phase 2 wet beneficiation plant will be brought into operation later in 2012, with sales anticipated in the first half of 2013.
Potential for Growth
NSL is continuing to assess complementary new bulk commodity mining opportunities to expand its potential production base in Andhra Pradesh.
Late last year the company was continuing to progress several opportunities for either outright acquisition and/or joint venture structured agreements over multiple projects across India, together with additional Australian coal tenements.
The company’s dual bulk commodity focus provides it with the opportunity to link its maiden iron ore start-up operations and first revenues with its exploration and development of the Queensland thermal coal assets.
Analysis
This is a significant milestone in terms of ex gate sales of iron ore into the Indian domestic market, driving near term cash flows and given its valuation of $21 million and highlights the valuation gap.
http://www.proactiveinvestors.com.au/companies/news/29036/ns…
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NSL Consolidated 31 May, 2012 MINING COMMENCES AT MANGAL __________________________________________________ HIGHLIGHTS Mining and stockpile generation commences at Mangal mine Phase 1 dry separation circuit staged commissioning and optimisation continues Sales to commence ramping up __________________________________________________ The Directors of NSL Consolidated Ltd (NSL or Company) are pleased to report that mining has commenced at Mangal Mine in preparation for the ramp up of the Phase 1 dry separation circuit production. Mining at Mangal Mining at Mangal Mining at Mangal Stockpile movement at Mangal Mangal weighbridge Construction and staged commissioning of the Phase 1 Kurnool iron ore dry separation plant continues as the Company finalises optimisation of the process capable of producing up to 58% Fe grade ore. The Company expects a gradual ramp up in production and sales tonnages from now, towards the targeted Phase 1 production capacity of 200,000 tonnes per annum in the third quarter.
Final commissioning on the dry separation circuit is expected to occur prior to June 30, 2012. Stockpiles of crushed ROM at the stockyard Stockpile movement at the stockyard Material feeding to the dry separator at the stockyard.
http://media.wotnews.com.au/asxann/01302071.pdf
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NSL Consolidated 07 June, 2012 FULL OPERATING POWER INSTALLED TO NEW INDIAN IRON ORE PLANT __________________________________________________ HIGHLIGHTS Transition from construction power to operating power completed for new Kurnool iron ore plant in southeast state of Andra Pradesh Phase 1 dry separation circuit staged commissioning and optimisation continues Sales to ramp up following maiden first sales in May __________________________________________________ The Directors of Perth-based NSL Consolidated Ltd (NSL or Company) are pleased to report that the transition of construction based power supply and capabilities to full operating power capability for the ramp up of the Company’s wholly owned Phase 1 dry separation circuit production at its Kurnool iron ore plant in India, is now complete and operational. Unloading the 1000KVa generator Placing the generator on its pad Placing the generator on its pad Construction and staged commissioning of the Phase 1 Kurnool iron ore dry separation plant continues as the Company finalises optimisation of the process capable of producing up to 58% Fe grade ore. NSL expects a gradual ramp up in production and sales tonnages towards the targeted Phase 1 production capacity of 200,000 tonnes per annum in the third quarter.
Final commissioning on the dry separation circuit is expected to occur prior to June 30, 2012. The Phase 2 wet beneficiation plant which is capable of producing final product grades of between 58-62% Fe, will be brought into operation later in 2012 with completion and anticipated sales in the first half 2013. This is targeted to increase production capacity by an additional 200,000 tonnes per annum to 400,000 tonnes per annum.
The Company’s Kurnool stockyard is a 12 acre industrial site within the south-eastern Indian state of Andhra Pradesh. As well as the iron source at the nearby Mangal mine, the plant is also adjacent to NSL’s existing Kuja iron mine. CONTACT: Cedric Goode NSL Consolidated 0400 408 477 Kevin Skinner Field Public Relations (08) 8234 9555 / 0414 822 631.
http://media.wotnews.com.au/asxann/01303889.pdf
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Montag 25 Juni, 2012 von Angela Kean
NSL Konzern ( ASX: NSL ). liegt im Zeitplan, um die Inbetriebnahme der Phase 1 Kurnool Trockenabscheidung Eisenerz-Werk in Indien nach der erfolgreichen Durchführung der ersten kompletten Volllast Test abzuschließen Vollständige Inbetriebnahme der Anlage bleibt das Unternehmen schließt Optimierung des Prozesses in der Lage, bis zu 58% Eisen Erz, die Fertigstellung ist für den 30. Juni 2012. Run of Mine Erz aus des Unternehmens in der Nähe Mangal Eisenerzgrube wurde durch den gesamten Kurnool Kreis laufen, so dass NSL, um die Ausrichtung und Kalibrierung aller Komponenten zu validieren das Brechen, Sieben und trockene Trennung Pflanze. Das Unternehmen Targeting einen ersten stationären Produktionsrate von 200.000 wird aufbereitetes Tonnen pro Jahr aus der ersten Phase des Betriebs am Kurnool Viehhof, mit aufbereitetes Steigungen von bis zu 58% erreicht, in diesem Jahr. A 58 % Eisenerz Produkt verkauft sich im Inland für ca. US $ 90 pro Tonne, was bedeutet, dass bei 200.000 Tonnen pro Jahr Produktion, NSL wird am ersten Phase Umsatz von 18 Mio. USD suchen. In Phase 2 des Projekts, soll NSL den Ausbau der Produktion auf 400.000 Tonnen pro annum bei höheren Graden der zwischen 58% und 62% Eisen. Erste Umsätze werden in der ersten Hälfte des Jahres 2013 erwartet. NSL zielt auf die Produktion von 1,5 Millionen Tonnen pro Jahr bis Ende 2014, was ist erreichbar durch strategische Akquisitionen und Lieferverträge. NSL ist die einzige ausländische Firma zu besitzen und zu betreiben Eisenerzminen in Indien. Die Kurnool Viehhof in Südost-Indien ist eine 12 Hektar große Industriebrache grenzt an bestehende Kuja NSL der Erzmine in Andhra Pradesh. Der Lagerplatz wird seine Quelle Eisen aus dem nahe gelegenen Mangal Eisenerzgrube. indischen Stahl-Verbrauch auf dem Vormarsch Indien ist weltweit der drittgrößte Exporteur von Eisenerz und hat eine niedrige Produktionskosten und gut ausgebaute Infrastruktur. Eisenerz ist eine große, aber fragmentierten Branche mit kleinen Operationen. Dies mündet in einer starken inländischen Markt für Stahl-, Prognose deutlich zu erhöhen. Indiens führende Stahlerzeuger JSW Steel prognostiziert kürzlich, dass die indischen Stahlverbrauchs gesehen steigt auf etwa 130 Millionen Tonnen im Jahr 2020 von etwa 67 Millionen Tonnen in diesem Jahr als wachsendes Einkommen und die Urbanisierung die Nachfrage. JSW sagte, es erwartet Stahlverbrauch wird fast 70 Millionen Tonnen in diesem Jahr und etwa 80 Millionen Tonnen im Jahr 2012 sein. Das Land ist der Verkauf von Eisenerz und anderen Produkten auf Eisen chinesischen und asiatischen Kunden an, die Versorgung der Diversifizierung werden, und ist ebenfalls der weltweit fünftgrößte Stahlhersteller mit einer annualisierten Wachstumsrate von 10%. Proactive Investors ist einer der Marktführer im Investment News Raum und bietet ASX "Small-und Mid-Cap" Unternehmen Nachrichten, Forschungsberichte, StockTube Videos und One2One Investor Forums.
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Thursday, July 12, 2012 by Angela Kean
NSL Consolidated is on track to net substantial cash flows from its Kurnool dry separation iron ore plant in India during the September quarter with the milestone completion of commissioning and the start of its ramp up to full production.
NSL Consolidated (ASX: NSL) has achieved another major milestone in its transition to producer, with the start of its ramp up to the targeted Phase 1 production capacity of 200,000 tonnes per annum from its Kurnool dry separation iron ore plant in India.
The company is targeting a staged ramp up to the full 1.5 million tonnes per annum by the end of 2014.
Importantly, NSL has received a number of expressions of interest from local steel mills in regards to offtake agreements for the Kurnool iron ore.
Kurnool represents an attractive iron ore supply solution for these steel mills due to its close proximity. NSL is currently negotiating potential agreements.
Cedric Goode, managing director of NSL Consolidated, commented on the milestone: “We have made significant progress to date at Kurnool within our communicated budget and timetable.
“Importantly we anticipate generating meaningful cash inflows during the quarter, with strong domestic prices and low ex gate costs, as we are now ramping up to full production.
“We are buoyed by the interest from local steel mills in securing offtake from our operations and are hopeful to execute one or more sales agreements in the near future.
“Our journey is only just commencing, as we progress through completing Phases 1 and 2, to utilising our experience and actual performance to lift NSL to its desired 1.5 million tonne per annum target by the end of 2014.
“This target being possible through bolt on wet and dry separation plants to increase output, together with sourcing additional ore feed through strategic acquisitions and supply agreements.”
Full production ramp up
The ramp up process during the quarter includes expanding equipment and labour at the Mangal mine, starting up the Kuja mine and recruiting and training additional dry plant operators.
NSL is targeting an initial steady production rate of 200,000 beneficiated tonnes per annum from the first phase of operations at the Kurnool stockyard, with beneficiated grades of up to 58% achieved earlier this year.
A 58% iron ore product sells domestically for about US$70 to $93 per tonne, meaning that at 200,000 tonnes per annum production, NSL is looking at first phase revenue of $14 to $18.6 million.
In Phase 2 of the project, NSL aims to ramp up production to 400,000 tonnes per annum at higher grades of between 58% and 62% iron. First sales are anticipated in the first half of 2013.
NSL is targeting production of 1.5 million tonnes per annum by the end of 2014, which is achievable through strategic acquisitions and supply agreements.
NSL is the only foreign company to own and operate iron ore mines in India.
The Kurnool stockyard in southeast India is a 12 acre industrial site located adjacent to NSL’s existing Kuja iron mine in Andhra Pradesh. The stockyard will source its iron from the nearby Mangal iron ore mine.
Indian steel consumption on the rise
India is the world’s third largest iron ore exporter and has low production costs and well established infrastructure. Iron ore is a large but fragmented industry with small-scale operations.
This feeds into a strong domestic market for steel, forecast to increase substantially.
India's leading steel producer JSW Steel forecast recently that Indian steel consumption is seen rising to about 130 million tonnes in 2020 from about 67 million tonnes this year as growing incomes and urbanisation drive demand.
JSW said it expects steel consumption will be close to 70 million tonnes this year and about 80 million tonnes in 2012.
The country is selling iron ore and other iron products to Chinese and Asian customers that are seeking supply diversification, and is also the world’s fifth largest steel manufacturer with an annualised growth rate of 10%.
Analysis
NSL is well advanced up the path to first production and is expecting “meaningful” cash flows in the current September quarter. Domestic iron ore prices remain firm and will provide the company with potential annual first phase revenue of up to $18.6 million.
With Indian steel consumption set to rise and NSL’s plant strategically located close to steel mills, the company is well placed to service this growing demand.
NSL’s move to full production ramp up is yet another significant milestone driving near term cash flows. Given the company’s enterprise value of around $15 million – highlights the valuation gap that provides an opportunity for an investor to acquire a soon-to-be cash generating company at a discount to intrinsic value.
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Es deutet sich zumindest im 1-Jahreschart eine Bodenbilung an.
De facto überlege ich mir daher eine Aufstockung meiner NLS Anteile ...
VG,
PaiMei
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Wir leben alle unter dem gleichen Himmel, aber wir haben nicht alle den gleichen Horizont.
Wir leben alle unter dem gleichen Himmel, aber wir haben nicht alle den gleichen Horizont.
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Angehängte Grafik:
20120722_nsl_1y.png (verkleinert auf 43%)
20120722_nsl_1y.png (verkleinert auf 43%)
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Monday, July 30, 2012 by Proactive Investors
NSL has begun generating "meaningful" cash flows during the September quarter from several purchase orders for trial quantities of iron ore from its Kurnool Project in India. Successful trialling will mean a substantial increase in these quantities.
NSL Consolidated (ASX: NSL) continues to receive strong interest from domestic steel producers looking to secure offtake from its Kurnool iron ore project in India, with multiple orders received for trial quantities of between 100 and 1,000 tonnes.
As the company ramps up to the targeted Phase 1 production capacity of 200,000 tonnes per annum from its Kurnool dry separation iron ore plant, steel producers are purchasing material ex gate.
Pricing is in line with the prevailing market where 54-58% iron ore can be sold ex-gate to domestic steel mills for around US$65 to US$93 per tonne, meaning that at 200,000 tonnes per annum production, NSL is looking at first phase revenue of $13 to $18.6 million.
This compares to anticipated production cash costs of about US$18 per tonne.
These trial quantities are being transported to each company’s respective steel manufacturing plants to determine the material’s suitability for their steel manufacturing processes.
Importantly, successful trialling will see these quantities substantially increase, and continued strong iron ore demand and pricing is also likely to attract further interested parties.
Full production ramp up
NSL is targeting an initial steady production rate of 200,000 beneficiated tonnes per annum from the first phase of operations at the Kurnool stockyard, with beneficiated grades of up to 58% achieved earlier this year.
In Phase 2 of the project, NSL aims to ramp up production to 400,000 tonnes per annum at higher grades of between 58% and 62% iron. First sales are anticipated in the first half of 2013.
NSL is targeting production of 1.5 million tonnes per annum by the end of 2014, which is achievable through strategic acquisitions and supply agreements.
NSL is the only foreign company to own and operate iron ore mines in India.
The Kurnool stockyard in southeast India is a 12 acre industrial site located adjacent to NSL’s existing Kuja iron mine in Andhra Pradesh. The stockyard will source its iron from the nearby Mangal iron ore mine.
Indian steel consumption on the rise
India is the world’s third largest iron ore exporter and has low production costs and well established infrastructure. Iron ore is a large but fragmented industry with small-scale operations.
This feeds into a strong domestic market for steel, forecast to increase substantially.
The increase in funds being allocated to domestic infrastructure projects is driving a forecast increase in Indian domestic steel production from 77 million tonnes to 200 million tonnes by 2020.
The National Mineral Development Corporation, India’s largest domestic supplier of iron ore, continues to increase pricing, with rises of 10% occurring in the past week.
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marketing arrangement..." lässt ja großartiges vermuten...dass der Markt dies eventuell wiedermal so absulut gar nicht honoriert, dessen Risiko bin ich mir bewusst...ich hab trotzdem mal noch ein wenig nachgelegt...;-)
LG eckzins
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Wednesday, August 08, 2012 by Bevis Yeo
NSL’s moves to generate cash flow from its Kurnool iron ore project in India have received a boost from a major Singapore investment and trading house, which besides providing funding, has agreed to market up to three quarters of its anticipated 400,000 tonne per annum name plate production.
NSL Consolidated (ASX: NSL) has received a vote of confidence from a major Singapore investment and trading house, which is providing A$2.5 million in funding as well as an iron ore Marketing Agreement.
The funds from the low cost unsecured Convertible Note with Resources First Pte Ltd, which is related to the investment and trading house, will be used to further underpin and expand NSL’s iron ore production in India.
“This package provides flexible, low cost expansion funding for our early iron ore production period. It will allow NSL to potentially bring forward both the development of Phase 2 at Kurnool, and to fully focus on optimising production rates, as we are now more than fully funded for our requirements into next year,” managing director Cedric Goode said.
NSL has also entered into a marketing Agreement with Resources First to market its iron ore and procure sales contracts in a manner and at a price consistent with industry standards.
This can include Resources First directly purchasing the iron ore.
As part of the Marketing Agreement, NSL’s own marketing team will be leveraging off the experience, contacts and expertise of Resources First. NSL will retain the ultimate and final say to whom, and for what price the iron ore is sold.
NSL will pay a 2.5% commission for any sales secured to or by Resources First from Kurnool to a cap of 300,000 tonnes per annum, or about three quarters Kurnool’s current anticipated nameplate total output of 400,000 tonnes per annum.
The agreement does not apply to any other iron production projects which may be developed by NSL in India.
“This is a welcomed development against a backdrop of highly cyclical commodity and equity markets domestically and globally, and delivers certainty to NSL’s bulk commodity strategy in our key iron ore production ramp-up period,” Goode added.
“It also provides a marketing edge and access to a wider pool of potential offtake customers, either through direct purchasing of our iron ore, or access to strong steel mill relationships and supply history. Resources First has an existing strong presence in India and global iron markets.
“Importantly, the product Marketing Agreement is non-exclusive so there is no restriction on NSL’s own sales endeavours and success to date.”
Resources First said it was very excited about NSL’s progress in India to date as well as its potential growth opportunities both near Kurnool and in India.
“We are looking for this investment to potentially be the first of more opportunities to work together.”
Convertible Note
NSL will issue three-year unsecured Notes to Resources First for a total face value of A$2.5 million with an interest rate of 6%.
Interest payments will be yearly on an arrears basis, with the Notes convertible into NSL in two tranches at a 10% discount to the 20 day Volume Weighted Average Price of NSL’s ordinary shares on issue.
The tranche conversion dates are any time after 12 months and 24 months respectively from the date of issue.
NSL can elect to buy some or all of the Notes at its election at any time during the three year term without penalties.
Any shares issued from converted Notes will be voluntarily escrowed for a period of three months post conversion.
Resources First
Resources First has considerable experience in supplying Indian steel mills with iron ore through its related companies.
Its related companies also export a considerable amount of iron ore to China, both from India and Australia.
Kurnool
NSL is currently ramping up towards its targeted Phase 1 production capacity of 200,000 tonnes per annum from its Kurnool dry separation iron ore plant, with beneficiated grades of up to 58% achieved earlier this year.
In Phase 2 of the project, NSL aims to ramp up production to 400,000 tonnes per annum at higher grades of between 58% and 62% iron. This is expected to be brought into operation later this year with completion and first sales anticipated in the first half of 2013
NSL is targeting production of 1.5 million tonnes per annum by the end of 2014, which is achievable through strategic acquisitions and supply agreements.
NSL is the only foreign company to own and operate iron ore mines in India.
The Kurnool stockyard in southeast India is a 12 acre industrial site located adjacent to NSL’s existing Kuja iron mine in Andhra Pradesh. The stockyard will source its iron from the nearby Mangal iron ore mine.
Indian steel consumption on the rise
India is the world’s third largest iron ore exporter and has low production costs and well established infrastructure. Iron ore is a large but fragmented industry with small-scale operations.
This feeds into a strong domestic market for steel, forecast to increase substantially.
Resources First agreed, saying that India’s requirements for iron ore and steel are anticipated to expand substantially over the next 10 years.
The increase in funds being allocated to domestic infrastructure projects is driving a forecast increase in Indian domestic steel production from 77 million tonnes to 200 million tonnes by 2020.
The National Mineral Development Corporation, India’s largest domestic supplier of iron ore, continues to increase pricing, with rises of 10% occurring in the past week.
Analysis
The deal with Resources First is a major step forward for NSL as it moves to generate cash flows from Kurnool, funding the company into 2013 at a crucial optimising production phase.
First ex gate iron ore sales were achieved to a domestic customer during the June quarter.
While NSL has already received strong interest from domestic steel producers looking to secure offtake from its Kurnool iron ore project in India, allowing an experienced trader to arrange sales for three quarters of its anticipated nameplate total output will ensure the company receives the best possible prices for its iron ore.
To top it off, the non-exclusive nature of the arrangement gives NSL the flexibility to reach its own sales agreements if need be.
NSL is already receiving pricing for its trial ore production in line with the prevailing market where 54-58% iron ore can be sold ex-gate to domestic steel mills for around US$65 to US$93 per tonne. This compares to anticipated production cash costs of about US$18 per tonne.
Implying that at 200,000 tonnes per annum production, NSL is looking at first phase revenue of $13 to $18.6 million. This is against a market valuation of $18 million. Clearly, there is a looming mis-pricing between expected revenues and current market cap.
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Tuesday, September 04, 2012 by Angela Kean
NSL Consolidated (ASX: NSL) has received the first half of the US$2.5 million in funding from Singapore and Indian-based bulk commodities trading and investment specialists.
The funds from the low cost unsecured Convertible Note with Resources First Pte Ltd, a company related to a major Singapore-based bulk commodities investment and trading house and an Indian bulk commodities trading house, will be used to further underpin and expand NSL’s iron ore production in India.
The second US$1.25 million payment is expected to be received in the coming days, adding to the $1.45 million NSL had in cash reserves at the end of the June 2012 quarter.
At the same time the funding deal was announced, NSL also revealed it had entered into a marketing agreement with Resources First to market its iron ore and procure sales contracts.
This can include Resources First directly purchasing the iron ore.
Resources First has considerable experience in supplying Indian steel mills with iron ore through its related companies.
Its related companies also export a considerable amount of iron ore to China, both from India and Australia.
In recent weeks, NSL has achieved full commissioning of its new phase one iron ore dry separation plant at Kurnool in the southeast Indian state of Andra Pradesh.
The company is working to ramp up towards the plant’s anticipated nameplate capacity of 200,000 tonnes per annum during the September quarter.
A second stage, phase two wet beneficiation plant for Kurnool, capable of producing final product grades of between 58-62% iron, is anticipated to be brought into operation later in 2012 with completion and anticipated sales in the first half of 2013.
This is targeted to increase production capacity by an additional 200,000 tonnes per annum to an anticipated total of 400,000 tonnes per annum from Kurnool.
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Friday, September 21, 2012 by Angela Kean
NSL Consolidated (ASX: NSL) has received the remaining half of the US$2.5 million in funding from Singapore and Indian-based bulk commodities trading and investment specialists.
The funds are from the low cost unsecured Convertible Note with Resources First Pte Ltd, a company related to a major Singapore-based bulk commodities investment and trading house and an Indian bulk commodities trading house.
The funding will provide strategic support during the ongoing commissioning and expansion of Kurnool in the southeast Indian state of Andra Pradesh during 2012 and 2013 into an anticipated 400,000 tonne per annum iron ore operation.
NSL received the first US$1.25 million payment earlier this month, with the total $2.5 million now adding to the $1.45 million the company had in cash reserves at the end of the June 2012 quarter.
When the funding deal was announced early last month, NSL also revealed it had entered into a marketing agreement with Resources First to market its iron ore and procure sales contracts.
This can include Resources First directly purchasing the iron ore.
Resources First has considerable experience in supplying Indian steel mills with iron ore through its related companies.
Its related companies also export a considerable amount of iron ore to China, both from India and Australia.
In recent weeks, NSL has achieved full commissioning of its new phase one iron ore dry separation plant at Kurnool.
The company is working to ramp up towards the plant’s anticipated nameplate capacity of 200,000 tonnes per annum during the September quarter.
A second stage, phase two wet beneficiation plant for Kurnool, capable of producing final product grades of between 58-62% iron, is anticipated to be brought into operation later in 2012 with completion and anticipated sales in the first half of 2013.
This is targeted to increase production capacity by an additional 200,000 tonnes per annum to an anticipated total of 400,000 tonnes per annum from Kurnool.
Analysis
NSL is well advanced up the path to first production and is expecting “meaningful” cash flows in the current September quarter. Recently, the company estimated potential annual first phase revenue of up to $18.6 million.
With Indian steel consumption set to rise and NSL’s plant strategically located close to steel mills, the company is well placed to service this growing demand.
The low cost unsecured Convertible Note funding will provide strategic support during the ongoing commissioning and expansion of Kurnool in the southeast Indian state of Andra Pradesh during 2012 and 2013 into an anticipated 400,000 tonne per annum iron ore operation.
The company’s enterprise value of around $15 million highlights the valuation gap that provides an opportunity for investors to acquire a soon-to-be cash generating company at a discount to intrinsic value.
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