NSL Health, Iron Ore Hill merger delayed

The propsed merger between NSL Health and Iron Ore HIll has been delayed, in part due to the significant downturn in world financial markets.

The Burswood-based NSL has advised the delay has clouded any timetable for both the capital raising and the grant of tenure over Iron Ore Hill's project.

Progress is being made with investors regarding the captial raising and the company expects to make an announcement in the coming weeks.

Also, Cedric Goode will commence as managing director and chief executive of NSL on December 1.

The board said it is confident Mr Goode will be instrumental in steering the merger with Iron Ore Hill.