david catsoulis on today tonight, page-36

For those interested, and those that haven't panic solid and given their shares away at 4.7/4.8 today, the following is from Craig Duncombe, CEO of Austind Iron Ore Pty Ltd.

The board of Austind Iron Ore has the following statement to make in relation to the story aired on 27 May 2008 and Mr David Catsoulis.


'Mr David Catsoulis had previously been employed as a consultant by the Company for his undoubted skill as a Geologist and for his expertise in managing political issues in India. Mr Catsoulis does not now and never has had a day to day role in the management of the Company nor has David been an officer of the company. David resigned from his consulting position with the Company on 30 March 2008.

Mr Catsoulis was most forthright in advising the board as to the potential issues of his past business dealings and has made statements to the board in communications today that, to the best of his knowledge, there is no truth to the allegations made in the program as aired. Indeed David has tendered documents to the board that suggest that issues raised in relation to the persons mentioned in the program have been resolved. The board has sighted communications to this effect.

The Board of AIO is unaware of any issue or concern in relation to the story on Mr Catsoulis that will affect the operations of the company going forward and looks forward to delivering shareholder outcomes in line with our strategic plan into the future.'

So relax people, nothing has changed...hold on to your shres and don't fall for the manipulation on the buy side, the base is set.....

Always DYOR.

Good luck