ELE - Elmore Ltd

[sam76]

Re: NSL - NSL Health

I rang the Company and asked why the directors would sell just before a company making/breaking announcement.

The company secretary told me it was the previous directors off loading some holdings and taking advantage of the (nearly) 50% price rise over the previous days. He also said that the offloading was pretty insignificant compared to the big picture.

 

[irondragon]

Re: NSL - NSL Health

Just to clarify :

Please note the JV agreement I referred to mentioned (subject to certain conditions). So yes thank you HappyTown for mentioning these conditions in your post.

The land acquistion process is being fast tracked by having an MoU in place. Kakkur village has a population of about 3,500 people. It is a rural zone. And with the Iron Ore Hills being the target, and the government backing these projects, it is very unlikely the land acquisition would not succeed. (I will post more on this later).

NSL Health has provided a disclaimer of being in early stage or 'greenfields'. Things are not set in stone therefore they are reminding people of the risks. It is a penny stock, so it does deserve such a statement.

Another interesting fact is the number of announcements we have received already. It has been a nice steady flow. And we look forward to receiving more in the coming weeks, and months. This will be a great stock to trade, and or sit on. Enjoy the ride !

 

[happytown]

Re: NSL - NSL Health

...

The land acquistion process is being fast tracked by having an MoU in place. Kakkur village has a population of about 3,500 people. It is a rural zone. And with the Iron Ore Hills being the target, and the government backing these projects, it is very unlikely the land acquisition would not succeed. (I will post more on this later).

...

eager to read any new information you will post that could shed further light on the land acquisition strategy

cheers

 

[irondragon]

Re: NSL - NSL Health

Regarding the land acquistion strategy, we are only guided by what NSL has announced so far ... read on -

7/12/07 NSL Announcement excerpt -
Austind has negotiated an MOU to purchase Circa 800 acres of freehold land from the land owners. Once the land acquisition is completed, Austind will seek to secure government permitting for mineral tenure (mining lease or equivalent) over the project area and surrounds (estimated to be up to 1,000 acres in total).

Question : Does the MoU mean anything? Signing the Memorandum of Understanding is an important step. Both parties are committed to doing whatever is necessary to come to a mutual agreement as quickly as possible.

Note : A MEMORANDUM OF UNDERSTANDING, which may also be called “an agreement in principle” or “a letter of intent” is an instrument which signifies an intention to negotiate a contract in the future. It is not intended to be a legally binding document. It is important to include a specific clause in the document which negates any intention to create a binding relationship, for example, this document is a Memorandum of Understanding and is not intended to create binding or legal obligations on either party.

1/2/08 NSL Announcement excerpt -
Austind is continuing discussions to raise up to $11 million to fund the land acquisition strategy, mining permit applications, joint venture expenditure and general working capital.

Austind has also negotiated “Non Objection Certificates” from the owners of the land to which the mining permit relates. This process should ensure that the mining permit application will be processed without challenge from the local land owners. In addition, Austind has negotiated to purchase circa up to 1000 acres of the freehold land from the land owners covering the Project area. The estimated total acquisition cost is expected to be approximately $10 million and will be funded from Austind’s current equity raising.

The joint venture agreement between NSL and Austind provided that the parties must agree on the land acquisition strategy and various other matters on or prior to 31 January 2008 as conditions precedent to formation of the joint venture. The parties have agreed to extend this date to 29 February 2008 to allow Austind sufficient time to make the mining permit application and deliver to NSL a legal opinion on the land acquisition strategy.

29/2/2008 JV announcement – JV is now UNCONDITIONAL.

Shareholders would also be aware that Austind is currently proceeding with an equity raising of $11 million to fund its various initiatives. Austind has advised NSL that strong support has been received for the equity raising to date.

8/12/2007 – India eNews
Land acquisition for industry has become a sensitive issue in India. It exploded in a big way when violence broke out in Singur and Nandigram in West Bengal where farmers have alleged forceful takeover of farmland (circa early 2007).

Newsroom : dated 8/6/2007
New regulations will allow developers to buy land directly from farmers for special economic zones – regions with liberal economic laws designed to encourage investment, especially by foreign companies.State governments had previously bought land under the Land Acquisition Act of 1894 – dating from the colonial era. The law gave governments absolute authority to unilaterally target, price and acquire any agricultural land for industrial projects.

Following China’s example, India plans to create more than 500 SEZs across the country. Commerce minister Kamal Nath has championed SEZs as “engines of growth” which will help boost exports, spur inward foreign investment and create thousands of jobs. Not everyone agrees.

Human rights groups are outraged by the large-scale displacements and loss of livelihoods that the SEZs will cause. They also criticise the government for giving generous fiscal incentives to industry while cutting subsidies on food. Human rights activist Medha Patkar says: “The government is distributing land to private companies, which is against the farmers and workers of the country.”

27/02/2008 Excerpt from The Economic Times -
The steel industry is resource intensive. Major steel projects are located in relatively backward regions, involving land acquisition and mining activities. Recent public protests against some of the steel projects have indicated that the industry must project a more humane face. There is also need for involving the displaced and the affected in the growth of the projects by converting them into stakeholders in the company.

The relevant question is - Can the industry that wants the land compensate the persons engaged in Agriculture adequately so that they will want to give up their land ? If it wants land that is more fertile, farmers will clearly ask for more compensation.

From the available information it is clear that AustInd does not intend to use force to take the land from the land owners. An MoU is in place for fast tracking negotiations for suitable compensation of the land for the owners. AustInd is raising the approx $11million, part of will be used to compensate the land owners.

Because, in my opinion, you can bet that in the MoU AustInd will focus on -
1. Fair compensation for the farmers, and;
2. Employment opportunities for the families who gave up the land.

What AustInd will be aiming to deliver an attractive compensation package for those families and therefore they will have better annual income that then what they had when they were cultivating the land.

Furthermore, NSL director Mr Peter Wall appears to have the right credentials with the JV agreement process :

Mr Peter Wall - DIRECTOR
Mr Wall graduated from the University of Western Australia with a Bachelor of
Laws and Bachelor of Commerce. He has also completed a Masters of Applied
Finance and Investment.
Following graduation from UWA, Mr Wall commenced employment at a large
Perth based law firm and later joined Steinepreis Paganin in January 2000.
Mr Wall was appointed a Partner at Steinepreis Paganin on 1 July 2005.
Mr Wall has advised on numerous IPOs and has a wide range of experience in allforms of mergers and acquisitions (including takeovers and schemes of
arrangement). Mr Wall’s other areas of practice include reconstructions, energy and resources, telecommunications, capital markets, corporate and strategic advice, securities law, commercial law and contract law.
Mr Wall has significant experience in successful recapitalisations, including in
recent times: Digital and Voice Media Limited, Environmental Solutions
International Limited, G Retail Limited, Knights Insolvency Administration Limited, Transerv Australia Limited and Centralian Minerals Limited.

Legal Advisors – Steinepreis Paganin – Top Advisors
The mining and resources boom in Western Australia together with the prevalence of smaller listings has propelled Perth based Steinepreis Paganin into the top position of legal advisors with participation in 30 new floats in 2006.
Steinepreis Paganin offers clients a comprehensive range of corporate
legal services. Since its inception, the firm has developed a substantial
corporate practice servicing the needs of clients locally, interstate
and overseas.
The firm’s principal areas of work include:
• initial public offerings;
• takeovers and reverse takeovers;
• mergers and acquisitions (including all types of share sales and asset sales);
• managed investment schemes;
• corporate strategy, structuring and execution;
• AFS licensing and compliance;
• corporate reconstructions;
• mining and resources;
• corporate dispute resolution;
• legal due diligence;
• dual listings; and
• general corporate compliance advice on the Corporations Act and the Listing Rules of Australian Stock Exchange Limited (ASX).
The firm is committed to providing an innovative, quality service and delivering constructive outcomes to its clients at competitive rates.
Our highly qualified professional and administrative staff work hard to
maintain this commitment to quality.

29/02/2008 NSL Announcement excerpt -
Further, Austind has advised NSL that it is progressing well with its proposed significant equity fund raising that will allow it to complete the acquisitions of land at Iron Ore Hill.

This statment, im my opinion, suggests that the main hurdle for the land acquistion is the $10 - $11 million being raised by AustInd. And they have already advised NSL that strong support has been received for the equity raising to date.

This is purely my own opinion from facts that are freely available ...

 

[irondragon]

Re: NSL - NSL Health

Because, in my opinion, you can bet that in the MoU AustInd will focus on -
1. Fair compensation for the farmers, and;
2. Employment opportunities for the families who gave up the land.

Tried to use the edit button before but wasn't aware of the 20 minute edit rule ... !

Please note that I have assumed the land owners would be local villagers ie, farmers, and families that rely solely on agriculture. At this stage it is not clear who actually owns the land. Thinking about it a bit more, considering the land is known as Iron Ore Hills, it might actually not be used for pretty much anything at present. So the owners (whoever they may be) would probably welcome some cash, and/or stakeholding.

Another worth...

 

[LRG]

Re: NSL - NSL Health

Thanks for all the analysis irondragon.

We got hammered today though - back down to 2.7 cents from our recent 3.5 cent high.

Does anyone believe that in another 2 weeks we will get some more good news or not?

Granted today was a bad day for the markets as a whole.

I really want to hang onto this and get some exponential growth in the sp - but it is a toughy to have faith in it

 

[YOUNG_TRADER]

Re: NSL - NSL Health

Hey guys,

Looks like we saw some buy the rumour sell the fact play out, which was also made worse with our tanking mkts (thanks Mr Dow)

You get a "buy the rumour" - "sell the fact" situation" but it will all depend on the ann, depending how positive it is will depend on where the SP ends up

And just like I said the volatility was huge, a run from 2c - 3.5c in a few days, now back at 2.7c

Either way like I said volatility will be large!

LRG, you have to look at this stock for what it is, a good spec traders stock, which does offer alot of spec upside, however it is hard to put a real solid NTA behind the company, sure you can give it EV's and such but we need verification of the target size that they are going after to get valuations and so forth,

2 weeks they say for more news, not too long

 

[Drubula]

Re: NSL - NSL Health

Lets hope the NSL SP recovers quickly because the last three trading days has been nothing but pure disappointment. Aside from the impact of DOW, I cannot beleive how this stock can drop 33.33% when nothing has changed since Friday. I would have expected the price to settle around the .026cents mark till a further announcement and certainly not drop to .022cents as it did today.

Have some of us misread the last announcement, myself included; is what I am asking. Maybe the most we can expect for the SP is a run to .04cents with any positive news in the shortterm and certainly not .05cents+ as some are touting.

Just a thought.

Drubs

 

[OK2]

Re: NSL - NSL Health

I followed this one all last week and have a very small holding but was curious to see what became of it all. Why??? On another forum there seems to be some very heavy pack hunting, ramprampramp then runrunrun.

This technique is becoming quite obvious and affecting the value of small caps. I would love to see a big player wipe these guys out of the play on a number of fronts.

 

[Drubula]

Re: NSL - NSL Health

Yes I have noticed that too, but I have certainly done my research on NSL and beleive today that there are traders or investors for that matter that dont understand what potential this stock has. Certainly it can be a days traders dream on a healthy trading day but for the long term I still think it has promise. I will wait till the geoligists report comes out and then make my decision.

Any other holders feel the same?

Drubs

 

[LRG]

Re: NSL - NSL Health

At least by close of trade it has today settled at 2.5 cents.

I don't understand what is going on with the SP currently, but I am sticking with the opinions of those who have done far greater study and analysis than I have the ability to do. i.e. as per detailed previous posts by some others in this string since December 2007.

I think I will wait and see and hang on throughout March. There is a good chance it may make new highs if the geol. news is more precise, substantial and positive in the coming weeks.

There are forecasts on this site from 5 c to 80c sometime in the future - it is difficult to put much science around what the market will actually pay for a stock vs the ptoential fundametal value.

 

[nyo]

Re: NSL - NSL Health

I asked my broker if he could tell me who AUSTIND IRON ORE PTY LTD was because I have not seen anything posted on them. Here is the information he had.

AUSTIND IRON ORE PTY LTD started 13/09/2007 with a guy by the name of ANTHONY SCOTT WOOD from Qld. Mr. Wood was the only shareholder and director. This seemed to change on 14/02/2008 when a new director was appointed, Jacobus Smit from Melbourne.

Does anyone else have any information on NSL's J/V partner? Any help would be great because it seems that AUSTIND IRON ORE PTY LTD is playing a big part.

 

[irondragon]

Re: NSL - NSL Health

The next few weeks should give holders a clearer picture of what is happening. Reasons being -

Firstly, the independent geologist report regarding the exploration potential of Iron Ore Hills should be released to the ASX, hopefully by the end of next week. In the NSL announcement dated 29/2/08 it was stated they expect to receive the report 'within the next two weeks.'

And secondly, from the announcement dated 29/2/08, NSL is also expecting that a JV committee meeting will be convened in coming weeks to determine the quantum of funds to be expended and the program undertaken.

In the meantime, behind the scenes, AIO is raising the $11mill to fund the land aquisition strategy, mining permit apps, JV expenditure and general working capital.

 

[Birdster]

Re: NSL - NSL Health

I asked my broker if he could tell me who AUSTIND IRON ORE PTY LTD was because I have not seen anything posted on them. Here is the information he had.

AUSTIND IRON ORE PTY LTD started 13/09/2007 with a guy by the name of ANTHONY SCOTT WOOD from Qld. Mr. Wood was the only shareholder and director. This seemed to change on 14/02/2008 when a new director was appointed, Jacobus Smit from Melbourne.

Does anyone else have any information on NSL's J/V partner? Any help would be great because it seems that AUSTIND IRON ORE PTY LTD is playing a big part.

That is a VERY good question. Even doing a simple thing as "googling" it results are next to nothing. (usually listing back to this site or ASX site.)

Anyone have info/links to the "partner"?

 

[irondragon]

Re: NSL - NSL Health

I asked my broker if he could tell me who AUSTIND IRON ORE PTY LTD was because I have not seen anything posted on them. Here is the information he had.

AUSTIND IRON ORE PTY LTD started 13/09/2007 with a guy by the name of ANTHONY SCOTT WOOD from Qld. Mr. Wood was the only shareholder and director. This seemed to change on 14/02/2008 when a new director was appointed, Jacobus Smit from Melbourne.

Does anyone else have any information on NSL's J/V partner? Any help would be great because it seems that AUSTIND IRON ORE PTY LTD is playing a big part.

Mr David Catsoulis is the Australian behind Austind Iron Ore Pty Ltd. He is also the CEO of Aardwolf Geotechnical Pty Ltd.

Check out .... http://www.davidcatsoulis.com

Interesting read.

 

[nyo]

Re: NSL - NSL Health

Mr David Catsoulis is the Australian behind Austind Iron Ore Pty Ltd. He is also the CEO of Aardwolf Geotechnical Pty Ltd.

Check out .... http://www.davidcatsoulis.com

Interesting read.

Here is the information on AUSTIND IRON ORE PTY LTD. I don't see a Mr David Catsoulis listed. Could you show me where I could look to find information on Mr David Catsoulis that shows him behind AUSTIND IRON ORE PTY LTD? I could not find AUSTIND IRON ORE PTY LTD on Mr David Catsoulis website.

Also do you have any information on the new director Jacobus Smit appointed on 14/02/2008?

AUSTIND IRON ORE PTY LTD
This computer produced extract contains information derived from the ASIC database either from documents lodged with the ASIC and processed as at the stated date of the extract, or from records supplied by previous state and/or territory systems.

Please advise the ASIC promptly of any error or omission which you may find so that they can correct it.

Company Name AUSTIND IRON ORE PTY LTD
ACN 127530205
ABN 12127530205
Place Of Registration N/A
State Of Registration QLD
Previous State No.
Date Registered 13 Sep 2007
Extract Date 01 Feb 2008
Current Organisation Details
Name AUSTIND IRON ORE PTY LTD
Details Start Date 13 Sep 2007
Details End Date N/A
Name Start Date 13 Sep 2007
Company Status Registered
Company Type Australian Proprietary Company
Company Class Limited By Shares
Company Sub Class Proprietary Company
Date Deregistered N/A
Reason Deregistered N/A
Registered Office
Address: 'BRISBANE CLUB TOWER' LEVEL 18
241 ADELAIDE STREET
BRISBANE
QLD 4000
Start Date: 13 Sep 2007
Principal Place Of Business
Address: 'BRISBANE CLUB TOWER' LEVEL 18
241 ADELAIDE STREET
BRISBANE
QLD 4000
Start Date: 13 Sep 2007
Director
ANTHONY SCOTT , WOOD
Address: 3 POITIER STREET
MCDOWALL
QLD 4053
Born: 01 Oct 1960 - CAIRNS , QLD
Appointed Date: 13 Sep 2007
Share Structure
Class Code ORD
Class Title ORDINARY SHARES
Document Number Qualifier
Number of Shares 1
Total Amount To Be Paid $1.00
Total Amount Due $0.00
Shareholders
Class: ORD Number Held: 1
Beneficially Owned: Yes Fully Paid: Yes
Document Number Qualifier:
Joint: No
ANTHONY SCOTT WOOD
3 POITIER STREET
MCDOWALL
QLD 4053

 

[irondragon]

Re: NSL - NSL Health

Here is the information on AUSTIND IRON ORE PTY LTD. I don't see a Mr David Catsoulis listed. Could you show me where I could look to find information on Mr David Catsoulis that shows him behind AUSTIND IRON ORE PTY LTD? I could not find AUSTIND IRON ORE PTY LTD on Mr David Catsoulis website.

Also do you have any information on the new director Jacobus Smit appointed on 14/02/2008?

Aust Ind Mining is a mining company that David helped to form, currently perusing mining ventures in India.

http://www.davidcatsoulis.com/links.htm

http://www.davidcatsoulis.com/business.htm

http://www.austindironore.com
Unfortunately not much public info on this site yet.

As for Jacobus Smit, at this stage, I am unsure if/how he fits in with everything ... if at all.

Extracted from ASIC's database at AEST 21:05:53 on 05/03/2008
Name AUSTIND IRON ORE PTY LTD
ACN 127 530 205
ABN 12 127 530 205
Type Australian Proprietary Company, Limited By Shares
Registration Date 13/09/2007
Next Review Date 13/09/2008
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

Hope this has helped.

 

[STRAT]

Re: NSL - NSL Health

Hi everyone,
Im somewhat surprised that some of you are surprised by this weeks price action. Market was expecting a report on the the target size/quality last week and it wasnt delivered. With the current state of the US markets and the usual follow on effect this is exactly what I was expecting. I even posted it on that other place though its probably best to steer clear of HC. It will only give you brain damage in the end.

The report will come in due course and the price will spike again or plumit depending on its contents

 

[nioka]

Re: NSL - NSL Health

Am I reading right? Has NSL made an agreement supposedly to be worth millions with a private company with a capital value of $1.

 

[nyo]

Re: NSL - NSL Health

Aust Ind Mining is a mining company that David helped to form, currently perusing mining ventures in India.

http://www.davidcatsoulis.com/links.htm

http://www.davidcatsoulis.com/business.htm

http://www.austindironore.com
Unfortunately not much public info on this site yet.

As for Jacobus Smit, at this stage, I am unsure if/how he fits in with everything ... if at all.

Extracted from ASIC's database at AEST 21:05:53 on 05/03/2008
Name AUSTIND IRON ORE PTY LTD
ACN 127 530 205
ABN 12 127 530 205
Type Australian Proprietary Company, Limited By Shares
Registration Date 13/09/2007
Next Review Date 13/09/2008
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

Hope this has helped.

I have I missed something. Aust Ind Mining NL does not seem to be the same as AUSTIND IRON ORE PTY LTD. How do we know that Mr David Catsoulis is behind AUSTIND IRON ORE PTY LTD? He does not show on the ASIC documents as a director or shareholder. Only Mr.Wood and Mr. Smit show as dircetors and Mr. Wood as the only shareholder. Am I missing something? A little help please.