to those that hold or looking to buy

after reading the past announcements, dating back to july of last year, i do feel a lot better, and would like to share some facts with you fellas.
i know, there are a lot that are wondering what is going on, so am i to tell you the truth, that's why i re-read a lot of announcements.

- joe has already mentioned the great location IOH's are at, having access to roads, ports, electricity, water, and people that are established in kerala are literate.

- on the financial aspect, nearly 45m dollars total equity for the two companies if merged at 25m raising. with no debt, and enough cash to carry on the project which is a big plus as it will not dilute the share price in any way like lots of other companies that need to folk out much more just for infrastructure let alone exploration within the area.

- announcement related to july 11th last yr it goes by saying that the actual issue price will be determined with referance to the prevaliling market conditions and trading price of nsl shares at or around the date of lodgement of its prospectus witht the asic. so i doubt that they will allow nsl to be at this low price right now... hence my reason for another big run coming in the near term.

- IOH is well into its discussions with a number of parties to secure the funding, with a STRONG level of interest shown to date.. this sound familier? they have been saying this for a while now, but it is good that there is strong interest from several parties and not just one.

- chance to expand its business by extending the area of IOH.

- from announcement " following initial discussions, the state government of kerala has suggested that it would consider an uprgrade to these facilities as part of the projects future development". read between the lines!, if the government didnt want or does not want, it would be suggesting this. this indicates that the government is for the idea of this merger to happen, and has support from the government to carry on the project with even better than current facilities. this is a big plus!.

- Mr goode - "A proven track record in North American and global strategic planning, global new business acquisitions, merger integration, joint venture establishment and profit and loss responsibility, makes Mr Goode an ideal MD/CEO elect. Details of Mr Goode’s proposed remuneration package are set out at the end of his announcement"...

this is the right person for what we need to do at this time, he knows what he is doing, and what steps to follow for the merger to be done, and cap raising.


put the government paragraph together with Mr goode's experiance, and you cant really get better than that, given the current economic down turn. From all their announcements to date, it sounds positive, and they are rolling along only so much due to this global situation.

lastly, time = patiance = reward. this is the hardest part, and i am positive that it will happen for all of us share holders that have been waiting for all this time.

hope this has made some feel a bit better..

jov