Indo Mines (IDO)

Shares / Stock Code

IDO

Stock Exchange / Sharemarket

Australian Securities Exchange

Indo Mines (IDO) is an Australian listed exploration company involved in gold, phosphate and diamond projects in Australia and Peru. In Australia, assets include the King George and Seppelt Range diamond projects located in North Kimberley of Western Australia, the "801" lead/zinc project located in the Northern Territory and the Wonarah phosphate located adjacent to "801". The company was listed on the ASX since December 1993. In May 2000, the company changed its name from Australian Kimberley Diamonds NL to AKD Limited. It was renamed to its current name of Indo Mines in March 2006.

The Company owns a 70% interest in the Jogjakarta Pig Iron project located approximately 30 kilometers from the city of Jogjakarta, Indonesia. The project centers on 22 kilometers long by 1.8 kilometers wide stretch of beach between the Kulon Progo and Serang rivers. Its projects also include Nangali Gold Project and Chinguela Gold Project.

IDO acquired the rights to earn a 70% interest in the Yogyakarta Ironsands, Indonesia. This deposit was initially drilled in the 1970s and early 1980s. On the basis of this drilling and subsequent test-work, it was reported in 1985 that an ironsand deposit was found containing titani-ferrous magnetite over a 22km by 1.5km wide strip of coastal plain. This is a significant project for AKD that will require an infill drilling program to bring the deposit to compliant status.

IDO competes with other diamond explorers and producers based both in Australia and overseas. These include Flinders Diamonds Ltd, Astro Diamond Mines and Diamond Rose. IDO sells diamonds to the industrial and jewellery markets.

Indo Mines (IDO) Products and Services

  • Mineral exploration and development

Indo Mines (IDO) Locations and Subsidiaries

Indo Mines Head Office
Level 9, BGC Centre, 28 The Esplanade,
PERTH, WA 6000
Phone: (08) 9322 6322
Fax: (08) 9322 6558

Indo Mines (IDO) Share Price

Submitted by ASX Listed Company on 23 April, 2010 - 00:45

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