ELE - Elmore Ltd

[irondragon]

Re: NSL - NSL Health

Am I reading right? Has NSL made an agreement supposedly to be worth millions with a private company with a capital value of $1.

Austind has formed a JV with NSL to explore/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.

Should Austind need to raise additional capital (other than the current $1.2million being raised by Austind) ($300,000 is 25% of $1.2 mill ... being NSL's 25% interest in the project) to support the various programmes envisaged to advance the Project status and then, these funds are employed by NSL and/or Austind on behalf of the Project then, NSL will increase the up front consideration on a dollar for dollar basis. i.e. NSL will issue additional shares to the Austind shareholders at a price of $0.03 each for every additional dollar of funds raised in Austind. Any new funds raised by Austind must be for a legitimate purpose and Austind must seek the prior approval of NSL (such approval not to be unreasonably withheld).

 

[irondragon]

Re: NSL - NSL Health

I have I missed something. Aust Ind Mining NL does not seem to be the same as AUSTIND IRON ORE PTY LTD. How do we know that Mr David Catsoulis is behind AUSTIND IRON ORE PTY LTD? He does not show on the ASIC documents as a director or shareholder. Only Mr.Wood and Mr. Smit show as dircetors and Mr. Wood as the only shareholder. Am I missing something? A little help please.

It was a no liability company (NL) but is now a limited proprietary company so must have the words "Proprietary Limited" or the abbreviation "Pty Ltd" at the end of its name.


David's details are at the bottom of the www.austindironore.com website. See below.

Chief Geologist DAVID CATSOULIS - Phone: +61 7 33499551 - Fax: +61 7 33499676 Email: dcatsoul@msn.com

Slowly join all the dots and you'll see the big picture ... Hope things are a bit clearer now.

 

[nyo]

Re: NSL - NSL Health

It was a no liability company (NL) but is now a limited proprietary company so must have the words "Proprietary Limited" or the abbreviation "Pty Ltd" at the end of its name.


David's details are at the bottom of the www.austindironore.com website. See below.

Chief Geologist DAVID CATSOULIS - Phone: +61 7 33499551 - Fax: +61 7 33499676 Email: dcatsoul@msn.com

Slowly join all the dots and you'll see the big picture ... Hope things are a bit clearer now.

OK thanks. Still fuzzy to me.

So who and how does Jacobus Smit fit in. I have done a google on the name Jacobus Smit in Melbourne. Not sure if he is the right one. Do you know?

 

[nyo]

Re: NSL - NSL Health

It was a no liability company (NL) but is now a limited proprietary company so must have the words "Proprietary Limited" or the abbreviation "Pty Ltd" at the end of its name.


David's details are at the bottom of the www.austindironore.com website. See below.

Chief Geologist DAVID CATSOULIS - Phone: +61 7 33499551 - Fax: +61 7 33499676 Email: dcatsoul@msn.com

Slowly join all the dots and you'll see the big picture ... Hope things are a bit clearer now.

irondragon it is still not clear to me. You say that AUST IND Mining NL is now AUSTIND IRON ORE PTY LTD. I had a look at the ASIC website and that does not seem to be the case. The ASIC website does not list a AUST IND Mining NL.

I cannot see where AUST IND Mining NL changed it's name to AUSTIND IRON ORE PTY LTD.

AUSTIND IRON ORE PTY LTD. seems to have started 13/09/2007 and AUST IND Mining NL does not seem to have been registered with ASIC.

Can you please show me where I have gone wrong. Have I looked in the wrong place or what? A little help please.

I would feel more comfortable with my NSL investment knowing who AUSTIND IRON ORE PTY LTD. is and who the people we are relaying on to prove up the resource. Right now it seems a little unclear. Well at least to me. LOL

http://www.search.asic.gov.au/cgi-bin/gns030c?acn=127_530_205&juris=9&hdtext=ACN&srchsrc=1

Extracted from ASIC's database at AEST 09:42:01 on 06/03/2008
Name AUSTIND IRON ORE PTY LTD
ACN
127 530 205
ABN
12 127 530 205
Type Australian Proprietary Company, Limited By Shares
Registration Date 13/09/2007
Next Review Date 13/09/2008
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission


These are the documents that ASIC has most recently received from or in relation to this organisation. Page numbers are shown if processing is complete and the document is available for purchase.
Date Number Pages Description
20/02/2008 1F0021553 Not Imaged 484 Change to Company Details
484G Notification of Share Issue
484O Changes to Share Structure
484N Changes to (Members) Share Holdings
14/02/2008 023091624 3 484E Change to Company Details Appointment or Cessation of A
Company Officeholder
14/02/2008 023091656 Not Imaged 484 Change to Company Details
484G Notification of Share Issue
484O Changes to Share Structure
484N Changes to (Members) Share Holdings

Search for AUST IND MINING NL

http://www.search.asic.gov.au/cgi-bin/gns030c

33 names found (* indicates former name)

Number Status Name

NSW H9369608 RMVD AUSTIND
ACN 009 436 551 DRGD AUSTIND PTY LTD
ACN 001 944 976 DRGD AUSTIND PTY LTD
ACN 006 474 157 DRGD AUST-IND. SERVICES HOLDINGS PTY. LTD.
WA 8917710Z DRGD AUST-IND IMPORT EXPORT
NSW T5933721 RMVD AUST-IND MICHAEL IMPORT EXPORT
ACN 051 204 810 DRGD AUSTIND TRADING CO. PTY. LIMITED
ACN 064 266 011 REGD AUSTIND TRADING INTERNATIONAL PTY. LTD.
WA 0099110K DRGD AUST - IND SOFTWARE CONSULTANTS
ACN 065 496 479 DRGD AUSTIND INTERNATIONAL HOLDINGS PTY. LIMITED
ACN 005 690 497 NOAC AUST-IND SERVICES PTY. LTD.
WA 0174540U DRGD AUST - IND AUTO PARTS
NSW T8515039 RMVD (AIM) AUSTRALIAN INDEPENDENT MONITORING
NSW V8666732 RMVD AUSTIND BUSINESS SYSTEMS
ACN 080 515 528 REGD AUSTIND INVESTMENTS PTY. LTD.
NSW BN97716978 REGD AUSTRALIAN INJURY MANAGEMENT (GRANVILLE)
NSW BN97900972 RMVD AUSTRALIAN INTEGRATED MANAGEMENT (CONSULTANTS)
ACN 005 803 298 REGD AUSTRALIAN INVESTMENT MANAGEMENT (HOLDINGS) PTY. LTD.
ACN 105 692 573 REGD AUSTIND FIRST PTY LTD
NSW T0311207 RMVD N & B AUSTIND PARTNERS
NSW E6279109 DRGD AUSTIND & COY
ACN 057 542 391 DRGD AUSTIND CLUB LTD
NSW U9810908 RMVD AUSTIND COMMERCIAL
ACN 127 530 205 REGD AUSTIND IRON ORE PTY LTD
ACN 078 087 699 DRGD GOLDEN AUSTIND PTY LTD
QLD BN3172879 DRGD AUSTIN D. HAARHOFF AND ASSOCIATES
SA 0403022J RMVD AUSTIND EDUCATIONAL SERVICES
ACN 083 797 666 REGD AUSTINDO MINING SERVICES PTY LTD
ACN 059 815 002 REGD AUSTIND DISTRIBUTORS PTY. LTD.
ACN 065 384 643 DRGD AUSTIND RURAL DEVELOPMENTS PTY. LIMITED
END OF LIST

 

[nyo]

Re: NSL - NSL Health

Aust Ind Mining is a mining company that David helped to form, currently perusing mining ventures in India.

http://www.davidcatsoulis.com/links.htm

http://www.davidcatsoulis.com/business.htm

http://www.austindironore.com
Unfortunately not much public info on this site yet.

As for Jacobus Smit, at this stage, I am unsure if/how he fits in with everything ... if at all.

Extracted from ASIC's database at AEST 21:05:53 on 05/03/2008
Name AUSTIND IRON ORE PTY LTD
ACN 127 530 205
ABN 12 127 530 205
Type Australian Proprietary Company, Limited By Shares
Registration Date 13/09/2007
Next Review Date 13/09/2008
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

Hope this has helped.

irondragon I am still fuzzy on who is behind AUSTIND IRON ORE PTY LTD. You say Mr Catsoulis is the man behind AUSTIND IRON ORE PTY LTD but his website you posted says that he resigned from all other corporate and consultancy positions in 2006.

http://www.davidcatsoulis.com/business.htm

Mr Catsoulis has resigned from all other corporate and consultancy positions in 2006 so as to focus on building the new Soil Testing and Geotechnical Business, AARD-WOLF Geotechnical P/L. His technical capacity is the backbone of this new business and his technical credentials speak for themselves.

When I read that I googled his name and came up the article below. After reading that I am really confused about this deal and the people behind it.

Can you please help me and correct me if this information on Mr Catsouli is not right. I need a confidence boost here please.


http://www.theaustralian.news.com.au/story/0,20867,20896882-2702,00.html

Big promises undo big names

Michael McKenna | December 09, 2006

HE won the trust of the big names of Australian finance, sport and politics - using their money and reputations to become a corporate white knight with a web of glittering companies and charities.

Sports stars Allan Border, Mal Meninga and Jason Akermanis, businessmen Solomon Lew and Grant Latta, as well as federal minister Mal Brough and his former Liberal colleague Michael Wooldridge were among an elite group who gave their time or money - a $1 million loan in the case of champion cyclist Robbie McEwen - to busy entrepreneur David Catsoulis.

But three years after bursting on to the Queensland scene, Mr Catsoulis is bankrupt with debts of more than $14 million.

He was charged last week with passing a bad cheque, and is now facing questions over a charity he set up that raised hundreds of thousands of dollars from public donations.

Liquidators of his companies, which include complementary medicine start-up Healing Power and charity Blue Sky Foundation are trawling through financial records in a bid to salvage anything from the flamboyant entrepreneur - who has mansions in Queensland's most prestigious streets and who lured Australia's powerful with the promise of riches and helping the sick. "We are reviewing records we have only recently received, which do not appear to be complete," said Healing Power liquidator Grant Sparks.

Among creditors are McEwen, Akermanis, who is owed $50,000; former Brisbane Lions teammate Mal Michael; Border, a former director of Healing Power who says he lost about $35,000; Wooldridge, another former Healing Power director who sued for $6000; and a host of government and corporate entities, including the Australian Tax Office, which is seeking $1.3 million, and Griffith University, owed $70,000.

"Catsoulis had good intentions, could talk a great game, but it went bad," Border said yesterday. "I see it as a lesson in life."

Queensland's Office of Fair Trading confirmed the Brisbane-based Blue Sky Foundation - which by Mr Catsoulis's estimate raised $500,000 with the help of Brough, Border and Meninga after it started in 2003 - was not registered as a charity. "The Blue Sky Foundation has never lodged an application to be registered as a charity in Queensland, or applied for a sanction in support of any fundraising activity," said a spokesman for Fair Trading Minister Margaret Keech.

If it had been registered, Blue Sky - set up by Mr Catsoulis to raise money for renal research after his daughter Olivia developed a chronic kidney disorder - would have had to submit yearly audits to the Office of Fair Trading.

The highly educated geologist - who came from a family of respected developers and had early success with mining companies before his latest ventures - said the collapse was a "tragic tale" of bad luck and betrayal.

And by his own admission, it worsened when he took a "short cut" in a bid to reverse his fortunes. Earlier this year he says he handed over $2 million - half of which, he says, was McEwen's - to a recently paroled fraudster in a deal that disappeared, along with the money. McEwen refused to comment this week.

In an interview with The Weekend Australian, Mr Catsoulis said he felt terrible for those who had lost money, but it was always a risk with companies looking for seed capital.

"A lot of people got burnt along the way, but we were the largest burning party in the pile and lost everything," he said. "People are making allegations, but the bottom line is that the deal went bad, it blew up."

Mr Catsoulis raised millions for Healing Power, set up in 2004, with a plan to buy and consolidate complementary medicine companies, including the Byron Bay-based TP Health, and shops.

It was all going to plan, according to Mr Catsoulis and other investors, with business legend Mr Lew included in a consortium that was willing to invest $8million in mid-2005.

But at the 11th hour, Dr Wooldridge and Mr Latta, a veteran Melbourne executive - both short-term directors in Healing Power - raised concerns that killed the deal.

Dr Wooldridge, the former federal health minister, confirmed the negotiations, saying the original proposal had been very attractive.

"However, I very quickly lost confidence in anything the CEO (Mr Catsoulis) was telling me and I, and two others (including Mr Latta) had no other course of action than to resign from the company," he said. Mr Catsoulis responded by saying the "Melbourne faction" undermined him because it wanted to buy TP Health for themselves.

But Mr Catsoulis says he is still hopeful of paying out creditors - using his shareholding in a mining company he expects to list in London soon.

 

[shaunm]

Re: NSL - NSL Health

Whoa the last few posts are getting me worried. Who is this guy and should we be worried; he sounds like a shonk!

 

[irondragon]

Re: NSL - NSL Health

irondragon I am still fuzzy on who is behind AUSTIND IRON ORE PTY LTD. You say Mr Catsoulis is the man behind AUSTIND IRON ORE PTY LTD but his website you posted says that he resigned from all other corporate and consultancy positions in 2006.

When I read that I googled his name and came up the article below. After reading that I am really confused about this deal and the people behind it.

Can you please help me and correct me if this information on Mr Catsouli is not right. I need a confidence boost here please.


http://www.theaustralian.news.com.au/story/0,20867,20896882-2702,00.html

Welcome to the world of venture capital and entrepreneurial endeavour! High risk game playing at times. Anything can happen!

Okay below is totally hypothetical but might be more fact than fiction. :

Firstly, Mr Catsoulis, probably just hasn't had the time or inclination, to think about a little detail such as changing the reference of Aust Ind Mining NL to Austind Iron Ore Pty Ltd at http://davidcatsoulis.com/links

Secondly, and I quote from http://www.asic.gov.au Liability doesn't have to be shown if we have given the company an exemption under section 150 of the Act. We only give this exemption when the company has been formed for non-commercial objectives, such as a charity or benevolent organisation.

So from this we can assume Aust Ind Mining NL had been formed for non-commercial objective's, whenever and for whatever (Name could be registered in another country for all we know). Then once Mr Catsoulis' mining dream gained momentum and initial planning / networking started to pay off, he formed and registered Austind Iron Ore Pty Ltd in 2007.

Mr Catsoulis used to be an employee for BHP Minerials when they were in India. (This could be the Kerala link).


I too have read that article about a previous business failure, and being in debt etc. However, he is planning to use his own share holding for future paymet to creditors if Austind is successful.

REMEMBER, the Iron Ore Hills project is only one project that Austind is looking at. There are many other's in the pipeline elsewhere, as documented in previous announcements.

"However, I very quickly lost confidence in anything the CEO (Mr Catsoulis) was telling me and I, and two others (including Mr Latta) had no other course of action than to resign from the company," he said. Mr Catsoulis responded by saying the "Melbourne faction" undermined him because it wanted to buy TP Health for themselves.

But Mr Catsoulis says he is still hopeful of paying out creditors - using his shareholding in a mining company he expects to list in London soon."

Do you believe what he is saying here? Yes, no, maybe!? Just focus on current activites. There should be an announcemnent shortly on the GEO report and a JV committee meeting is also expected soon.

You could also contact NSL and ask who is behind Austind if you are that concerned... because what I have typed is totally hypothetical and has no solid fact basis, except from snippets of information from various websites.

But really to put your mind at rest there is no harm in ringing NSL and seeing what they will or won't tell you. Good luck with your research. I'm done.

 

[Drubula]

Re: NSL - NSL Health

I rang NSL today and was informed that Shaun was on Annual Leave. The issue I took up was clarification as to when the geo report is due. Is it two weeks from the 29th February 2008 or an earlier date. My concerns have been forwarded to Fadil for followup and will await a reply in due course. I have done plenty of research on Kerala India and am amazed at the reference to quality IO. Lets hope NSL tenement is in the designated area referred to as quality IO as this could be something I missed out on other IO stocks.

Got out far too early.

Thats all folks
Drubs

 

[nyo]

Re: NSL - NSL Health

Aust Ind Mining is a mining company that David helped to form, currently perusing mining ventures in India.

http://www.davidcatsoulis.com/links.htm

http://www.davidcatsoulis.com/business.htm

http://www.austindironore.com
Unfortunately not much public info on this site yet.

As for Jacobus Smit, at this stage, I am unsure if/how he fits in with everything ... if at all.

Extracted from ASIC's database at AEST 21:05:53 on 05/03/2008
Name AUSTIND IRON ORE PTY LTD
ACN 127 530 205
ABN 12 127 530 205
Type Australian Proprietary Company, Limited By Shares
Registration Date 13/09/2007
Next Review Date 13/09/2008
Status Registered
Locality of Registered Office Brisbane QLD 4000
Jurisdiction Australian Securities & Investments Commission

Hope this has helped.

irondragon just finished making tea and decided to google Jacobus Smit the new director of AUSTIND IRON ORE PTY LTD. You said you were unsure how he fit. The google link is below. There is no way I am going to post the article. You can read it. If that article is correct I really need so serious comforting. Please tell me this is a real deal or my jam money is not looking too good. Help please.

http://www.news.com.au/heraldsun/story/0,21985,21641647-2862,00.html

 

[irondragon]

Re: NSL - NSL Health

irondragon just finished making tea and decided to google Jacobus Smit the new director of AUSTIND IRON ORE PTY LTD. You said you were unsure how he fit. The google link is below. There is no way I am going to post the article. You can read it. If that article is correct I really need so serious comforting. Please tell me this is a real deal or my jam money is not looking too good. Help please.

http://www.news.com.au/heraldsun/story/0,21985,21641647-2862,00.html

I agree if you are a medium/long term investor (1 - 7+ years), then NSL is very high risk. But there is significant upside (comes down to risk v reward). If you are that concerned with the Austind story with Catsoulis and Smit possibly involved, have a strategy or plan in place. Maybe sell some or all of your holding on any good news. You may feel more comfortable by reducing your holding or exiting totally, if this comforts you. Try not to let emotions rule your investing/trade decisions. Hard not to do, but everyone does it to some extent.

If you research Directors from various companies then you would be surprised that many have unusual backgrounds and maybe a checkered history. However, some have rebuilt their reputations and become very successful. Also CEO's and Directors you should scrutinise in small companies, in my opinion, are those that are leading very flamboyant lifestyles. Just put a Ferrari and Aston Martin on order... lol, and a porsche for the wife.

I concur with Drubula's research regarding Iron Ore in the Kerala area. Mr Catsoulis (AIO)from his credentials is very educated and is a Geologist himself. He has also worked in India, so would be aware of the potential hence what he is in the process of doing.

Drubula Re: NSL - NSL Health

I rang NSL today and was informed that Shaun was on Annual Leave. The issue I took up was clarification as to when the geo report is due. Is it two weeks from the 29th February 2008 or an earlier date. My concerns have been forwarded to Fadil for followup and will await a reply in due course. I have done plenty of research on Kerala India and am amazed at the reference to quality IO. Lets hope NSL tenement is in the designated area referred to as quality IO as this could be something I missed out on other IO stocks.

Got out far too early.

Nice work Drubs, be interested to hear. Funny if they release announcement before they get back to you though ... lol .

One more thing Nyo, keep up the research and your investigative tendencies. Digging around and looking at the big picture can pay handsome dividends to your investment decisions.

Good luck.

 

[Nathan_b]

Re: NSL - NSL Health

cool i always wanted to own shares in a brothel.

interesting article indeed.....

there is a lot of upside for this play, and think we may be lookin in too deep.

NSL is Buying off AUSTIND though

 

[TheAbyss]

Re: NSL - NSL Health

NSL buying off Austind or taking money out of a public company into a private one? Just a thought.

 

[Drubula]

Re: NSL - NSL Health

This week coming hopefully the updated geo's report will add some more interest to the SP.

People should ring the company to find out more on the Kerala Tenement as the media is yet to understand the enormity of Iron Ore in India. I am currently waiting on the GEO report before longterm decisions are made.

Cheers

Drubs

 

[LRG]

Re: NSL - NSL Health

I think there will be a little downward pressure and low volumes for a few days and then interest, volume and SP will increase later in the week.

I suspect further announcements coming will be more positive than negative and there will be light at the end of the tunnel!

But then, some of the negative stuff recently on these posts could come to the fore and I could be completely wrong

I am with young trader and others this is the one 2 watch in a sea of turmoil that we see in the markets lately.

NSL has no huge borrowings, just huge potential. 2.4 cents now maybe 1 cent in the future, maybe 10 cents - no one knows for sure or has a crystal ball - time is all we have - just wait and see

 

[shaunm]

Re: NSL - NSL Health

Despite the market conditions this little bugger has held it's ground surprisingly well! Obviously people are holding for the next round of news (survey of 1 here) and there's interest to get into prior to the info.

Anyone agree or feel otherwise?

 

[STRAT]

Re: NSL - NSL Health

Despite the market conditions this little bugger has held it's ground surprisingly well! Obviously people are holding for the next round of news (survey of 1 here) and there's interest to get into prior to the info.

Anyone agree or feel otherwise?

Hi Shaun,
Sounds about right to me. But I will have my finger on the trigger over the next 2 days

DISC : also from a survey of 1

 

[Drubula]

Re: NSL - NSL Health

Just a question

As results are anticipated soon. Would the company be briefing key investors first or just release to the market. After a nice top up yesterday I will await with interest.

Todays movement may well just be a rebound from yesterday. If there was something in the wind I would have expected a much higher volume of trading IMO and certainly with a nice movement in the share price.

To our UK and European investors, any news and if so please enlighten us.

Drubs

 

[STRAT]

Re: NSL - NSL Health

Hi people,
I have a favour to ask. I currently show no NSL trades so far today on Direct Broking. Though possible, this seems unlikely to me. Can anyone not on Direct Broking confirm this to be so?

 

[prawn_86]

Re: NSL - NSL Health

Hi people,
I have a favour to ask. I currently show no NSL trades so far today on Direct Broking. This though possible seems unlikely to me can anyone not on Direct Broking confirm this to be so?

Looks true to me Strat.

Although im with netwealth and my quotes are delayed by 20min, but its showing no trades up until at least 20 min ago

 

[STRAT]

Re: NSL - NSL Health

looks true to me Strat.

Although im with netwealth and my quotes are delayed by 20min, but its showing no trades up until at least 20 min ago

Thanks Prawn. and yes first trade through at 10:49 This is surprising to me

Thanks for your quick reply. I appreciate it

I can just feeeel the pressure mounting