Bill Moss named as Chairman of Exalt Resources
Monday, October 22 2012 - 10:49 AM WIB
Australia-listed company Exalt Resources Ltd. announced that Bill Moss AM has become Non-Executive Chairman of the company, and intends to make an investment in Exalt on the same terms as the current capital raising.
Bill Moss? career in finance and banking spans 35 years, with 22 years were spent with Australian investment bank, Macquarie Group.
?Having a person of Bill Moss? caliber and experience joining Exalt will only strengthen the leadership and governance of the company moving forward.? Exalt CEO and Managing Director, Barry Tudor, said.
?It?s a wonderful testament to the company and it?s potential that a person of Bill?s stature has provided such a vote of confidence in Exalt.''
He believed that the company will be bolstered by this appointment and well placed to achieve its strategic objective of becoming a successful Indonesian coal producer.
?While the process of securing and developing Indonesian coal assets is not without risks, it also has the potential to deliver high returns to shareholders,? Bill Moss said.
Exalt earlier announced it has signed a Sale and Purchase Agreement to acquire 100 percent of the issued capital of Odni Holdings (Pte.) Ltd (?Odni?) a Singapore incorporated coal Investment Company. The initial projects include a very large exploration area in South Sumatra spread over 11 concessions and covering approximately 250,000 hectares, with the potential for a large resource. Exalt will also acquire the rights to acquire two concession areas in East Kalimantan and one in Central Kalimantan.
Editing by Adianto P. Simamora