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NSL Consolidated Announces $3.5m Capital Raising and Presold Off-Take Agreement
Tuesday November 10, 2009, 12:39 pm

Original Announcement: $3.5m capital raising and presold off-take agreement

NSL Consolidated announced that it has secured commitments for a $3.5m placement to fund: a purchase price instalment for its first Indian iron ore project; development of its Indian iron ore projects; and general working capital. The placement will occur in two tranches, with 90m shares being issued under the company's 15% placement capacity and the balance subject to shareholder approval in mid-December 2009. NSL also advised that it has secured its first pre sold off-take agreement for ore from its Indian iron ore projects, with a sale of 200,000t of ore to a Chinese customer. Under the off-take agreement, NSL will commence shipment of ore in January 2010, with the final shipment to be supplied by the end of May 2010.

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