
In August 2005 Indo Mines Ltd (formally AKD, which listed on the ASX in December 1993) commenced an evaluation of a large iron sands project in Indonesia.
Indo Mines has a portfolio of high quality exploration prospects in Indonesia, Australia and Peru.
The Company plans to focus primarily on the Yogyakarta Project in Indonesia as well as other potential Indonesian developments. During the coming year, the Company will also be developing strategies to divest itself of its remaining non-core assets whilst still maximising shareholders' value in these projects.
The Directors of Indo Mines are excited about the prospects of the Yogyakarta Ironsands Project in Indonesia and believe this project has the potential to build the Company into a mining house which will transform the value of shareholders' interests.