minimum 60p.c fe and jorc due this month, page-17

The Consulting Geologist have said that :
"exploration work completed on the Project to date is not sufficient to define an exploration potential in accordance with the requirements of the JORC Code ".... 'and that additional exploration work will be required to determine the Project's potential'.

Taken from http://www.jorc.org
The Joint Ore Reserves Committee (JORC) Code is a Code of practice which sets minimum standards for public reporting in Australia and New Zealand of Exploration Results, Mineral
Resources and Ore Reserves. It provides a mandatory system for classification of tonnage/grade estimates according to geological confidence and technical/economic considerations in reports prepared for the purposes of informing investors, potential investors and their advisors.

Basically there are guidelines that AustInd is required to adhere to, as set out by the JORC Code. However, from the testing to date there is a anticipation that there is massive potential in the Iron Ore Hills.

I'd rather be in on this one, then sitting on the sidelines. Lot's more announcements to come, but if they are all positive then watch the volume and SP on this, steadily move north over time.

Taken from NSL ann dated 7/12/2007:
AustInd has formed a JV with NSL to explore and develop the Iron Ore Hills (Kerala Project Area). Under the terms of the agreement, NSL will spend a minimum of $300,000 and up to $400,000 to earn a 25% interest in the Kerala Iron Ore Project, India, that Austind is in the process of securing.

The Exploration Program is proposed to consist of:

Stage 1. - to December 2008.
Data compilation,reconnaissance field work, sampling and assay with a view to identifying an Exploration Potential (allowed by JORC and independently verified) of at least 200MT of iron ore @ Fe 60% (or equivalent thereof).

Stage 2. - to December 2009.
Data compilation, drilling and field work with a view to establishing a JORC Compliant Inferred Resource of at least 200MT of iron ore @ Fe 60%(or equivalent thereof).