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In addition, several new geochemical anomalies have been recognised within the Company's other concessions, most notably within PT Indo Surya and PT Era Moreco. This sampling, which is very broadly spaced reconnaissance sampling, has returned stream sediment samples up to 34ppm Mo from PT Indo Surya and rock chip samples up to 1,420ppm Mo within PT Era Moreco.
In continuing the Company's strategy of ensuring its Indonesian assets are optimally structured, the Company is in the process of converting their 5 controlled molybdenum concession companies: PT Inti Cemerlang, PT Promistis, PT Era Moreco, PT Sembilan Sumber Mas and PT Indo Surya (collectively the -Moly Companies-) into Indonesian foreign investment companies (-PMA Companies-) which allows greater flexibility and transparency for foreign ownership.
Preliminary field activities have also be initiated on the Company's Era Moreco concession.A number of significant assay results from Promistis were reported during the quarter, including several highly anomalous stream sediment samples returning molybdenum values up to 97ppm.A total of 15 stream sediment samples and 66 rock chip samples were collected and submitted for assay during the three month period.In addition to the IP surveying and trenching, the regional reconnaissance sampling and mapping programme within all of the Company's IUP's will continue through the January quarter.Corporate AppointmentsThe Company announced the appointment of Mr Robert Hyndes as Chief Executive Officer on 21st January.