ann article, page-4

These guys are always pretty quick to get announcements on their website.



WA health firm steps into resources
11-July-08 by Edited announcement


Burswood-based surgery technology company NSL Health Ltd will switch focus to the resources sector later this year after entering into a merger agreement with unlisted company Iron Ore Hill Ltd.

The merger will create an Indian focused-explorer with a market capitalisation of more than $125 million and cash reserves in excess of $25 million, NSL said.

Iron Hill holds the rights to an Indian magnetite project that has an exploration potential of 500-770 million tonnes of iron, and an upside target of 1.2 billion tonnes.

NSL's interest in resources was first flagged in October last year when it said it would spend between $300,000 and $400,000 to earn a 25 per cent interest in Iron Ore Hills.

At completion of the merger, which is expected in October, NSL will be re-badged as Iron Ore Hill to reflect its new direction.

A copy of the announcement is below:

http://www.wabusinessnews.com.au/en-story/1/64572/WA-health-firm-steps-into-resources-