Name change for EQiTX

Former biotechnology company EQiTX Ltd has completed its transformation into a coal producer and explorer following a name change to Equatorial Coal Ltd.

The name change follows a meeting last week where shareholders voted for the name change and the disposal of its biotechnology assets.

Additionally the company has today appointed Jim Dracopoulos as managing director.

Mr Dracapoulos has previously held roles with Straits Resources Ltd, Western Mining Corporation and Macmahon Holdings Ltd.

The company started its transformation last year when it took an 80 per cent stake in five Indonesian mineral permits.