Certainly would pay to keep an eye on IDO.Market cap $39mil...

Certainly would pay to keep an eye on IDO.

Market cap $39mil (current shares on issue 163.2mil)

- Completion of acquisition of rights to the Mangkok Project, an advanced coal project in well established South Kalimantan region, and a number of other resource projects in Indonesia.
- Production commenced at the Mangkok Project subsequent to quarter end, targeting 50,000 tonnes per month of high quality thermal coal.
- The Company secured a $4 million (US$3.6 million) prepayment towards the purchase of 300,000 tonnes of high quality thermal coal from the Mangkok Project.

New management team took control 2nd August.

- Highly experienced iron sands executive, Martin Hacon, appointed as Managing Director and CEO.
- Appointment of highly credentialed mining executives to the Board of Indo as Non-Executive Directors, including Christopher Catlow (Chairman) (ex FMG), Derek Fisher (Managing Director & CEO of MOL), Paul Kopejtka (Executive Chairman of MMX).

- Anglo Pacific Group hold 11.2%