io prices fin review story, page-15

Hi (jovann)

My main point about the company is the lack of disclosure on the tenements.
How many mines will the 5 million tonnes per annum come from? One or three?

The figures for selling and exporting of iron ore,how do they come by these figures? With out drilling to back it up they have to be guessing or hoping.
They show first turf being turned by the machine in an area that no mining obviously has been previously done.

They announced that they have current and historical exploration data.
Why are they not giving this information to investors?

They now have two mines under signed contracts.
Why have they not said where these mine sites are? Other companies can not get these tenements as they have signed contracts.All investors know is they are 5kls apart in Southern India.They are selling and shipping from Eastern Indian coast.

Five dollars more in the costing from $33 to $38 per tonne will mean an extra $2.4 million in cost's on 480,000 tonnes over 12 months.

No one here seems sure how much per tonne they will get when selling the iron ore.

Do the company NSL are selling the iron ore too,have an option to buy all iron ore produced by NSL at the same contracted price already in place if it is under contract price terms?

Has NSL got the right to sell any iron ore over 200,000 tonnes to other buyers at spot prices?

How can earnings projections be worked out when there are all these questions still to be answered?
Is there a clause in the contract to get more dollars per tonne based on iron ore spot price movements?

Regards
Westcott.