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NSL Health
NSL Health Limited
ABN 32 057 140 922
21 Teddington Road, Burswood, WA, 6100
P: (08) 9486 2333 F:(08) 9355 4580
16 July 2008 The Company Announcements Platform ASX Limited By E-lodgement UPDATE ON THE IOH LAND ACQUISITION Key points:
„h Iron Ore Hill Limited (IOH) has completed the first of a series of land purchases in India in accordance with the company¡¦s strategic land acquisition plan (SLAP);
„h The third phase of due diligence on target lands of the IOH project has been completed by IOH lawyers in India.
NSL Health Limited (NSL) is pleased to announce that under the SLAP, IOH has completed the first of a series of land purchases in India. These land purchases are designed to:
(a) acquire land that will provide IOH a strategic foothold across the Iron Ore Hills Project;
(b) enhance the current Exploration and Mining Lease applications currently underway; and
(c) assist in ensuring access for IOH to the deposit in addition to regional infrastructure and transport routes.
IOH has advised NSL that it will be continuing to purchase additional strategic holdings across the region over the coming months.
IOH¡¦s lawyers in India have recently completed the third phase of due diligence on the target lands of the Iron Ore Hills Project. This exhaustive process has identified the target acquisitions with the most strategic advantage for the IOH process, as well as any potential title issues in relation to the IOH strategic land acquisitions targeted for purchase. IOH has been advised by its Indian legal team that the next land purchase will settle in the next week. The Board of IOH looks forward to making additional announcements of land settlements and other aspects of the SLAP in the coming weeks. ¡§This is an important milestone for IOH and NSL because it marks the commencement of the Third Phase of the Strategic Land Acquisition for securing tenure over the Iron Ore Hills Project. Freehold title to the land will ensure that IOH has an unfettered right to explore and mine the project in the future¡¨ NSL Chairman Mr Peter Wall said today.
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