Re: NSL - NSL Health
Thanks Mick
I didn't. And for those besides me who didn't as well;
Iron will for India
Kevin Andrusiak | February 04, 2008
IT'S official, every man and his three-legged, flea-bitten, cross-bred dog is getting on the iron ore bandwagon.
That might be a bit harsh, given what we are about to say next, and Daily Assay wishes to retract any inference at all that NSL Health is an impure breed of a company.
We just have no idea what the company is about at all. For all we know, NSL Health is a promising junior firm, out there to do what everyone else is doing: make money out of the resources boom.
But we would imagine it was not just Daily Assay rubbing its eyes in a bid to seek further clarity when we saw the announcement that NSL Health is getting closer to applying for a mining permit to cover a proposed iron ore project in India.
That’s right, it is the same NSL that holds the rights to, and distributes dental technology products for, dental implants through the exclusive licence of the DenX technology in the Asia Pacific region (excluding Japan).
That’s about the only thing we know of the Perth-based company after looking up Bloomberg records. Maybe NSL’s website would have helped, but that’s not up and running at the moment.
At least not when we looked.
Anyway, down to the brass tacks, or the iron ore knobs, as we like to say.
The tooth specialist said on Friday that it has further rock-chip samples awaiting assay from its Indian Iron Ore Project.
There’s about a billion jokes Daily Assay can think of about India, teeth and rock-chip samples, but there’s no way we are going there. We barely survived the intense scrutiny of the KGB in the 1980s, and we have no intention of picking a fight with the Board of Control for Cricket in India.
For the record, NSL Health has an option to acquire a 25 per cent interest for the iron ore project in Kerala, India.
Dental equipment seller NSL Health is getting into the business, with an option over 25 per cent of the Kerala project, where previous rock chip samples have shown the potential for magnetite and hematite ore.
“Assay grades returned show excellent potential when compared to global averages for magnetite iron ore,” NSL told shareholders in December, after a brief forage over the 6km strike at Kerala last year.
NSL and its joint-venture partner Austind Iron Ore are now applying for mining permits over the project after Austind raised $10 million last year. Austind is in the process of raising another $11 million to fund land acquisitions.
They will use that money to buy up to 1000 acres of land around Kerala, after agreeing to extend a deadline to the end of February after which both parties have to agree to move ahead with the joint venture.
“Austind has advised that the legal opinion will be received in the next two weeks, following which NSL would be in a position to declare the joint venture unconditional,” company secretary Sean Henbury said.
So watch out for any movement in coming months about a $5 million battler from Perth called NSL Health. Who needs teeth when there’s an iron ore boom on at the moment?
And really, what can be so wrong with trying to build an iron ore project in India? Surely it’s a case of taking the ice to the Eskimo.
andrusiakk@theaustralian.com.au