a summary of the announcement

Just a quick summary of the announcement from my point of view.

I personally think that it was a pretty good announcement with more to come (historical data waiver for one)

Vanilla:
- Has commitments for $5,000,000 @ 5cents
- In advanced negotiations for another $10,000,000
- Facilitating a $25,000,000 convertible note facility with negotiations progressing well.

Mining Lease:
- IOH has support from Keralan State Government to expediate their application process over all the hills
- Application was made on the 26th September for 360,000 Hectares
- Are getting land owners on board with nominal consideration/options freeing up $$$ for mining expenditure
- In negotiations with adjacent land owners (pvt co.) to explore their land (not sure what this one means. Maybe someone else can explain it better)

I really like Goode and it seems he reads well (Dyno Nobel etc..) He wouldn't have come on board unless he saw potential in the comapany.

I'm also happy we have an Indian National as part of our management team. Hopefully he knows the ins and outs of the Indian system and can expediate our progress.

The announcement the other day was the end of the shell and the beginning of a new company commited to turing NSL into a powerhouse in Indian Iron Ore.
I'm grateful for the update from management and am happy for NSL to sit in my portfolio.

comments/critisisms welcome.