INTREPID MINES: Fusion mit Emperor MINES LTD
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EMPEROR MINES LTD AU:
http://www.ariva.de/quote/profile.m?secu=957672.
Diese Nachricht ist zu lesen unter:
http://www.asx.com.au/asx/statistics/...uncementPDF.do?idsID=00760004
oder die Uebersichtsseite der News:
http://www.asx.com.au/asx/research/...=asxCode&allinfo=on&asxCode=EMP
In diesem Fall muss man wohl ueber die Startseite gehen:
http://www.asx.com.au/index.htm
und "Emperor" oder "EMP" in das Suchfeld geben..
Die Fusion ist ja nun etwas her. Hier ein paar Jahres-End-News.
Paulsens' Hedge Book Retired, Company Debt Free BRISBANE, AUSTRALIA--(Marketwire - Dec. 15, 2008) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") is pleased to announce that its Western Australian gold mine, Paulsens, has delivered the final ounces to Westpac under existing hedge arrangements. Completion this week of hedge delivery ounces at A$627 per ounce will now allow the Company to enjoy full exposure to the spot gold price - currently A$600 per ounce higher - and significantly enhance the mine's current positive operating cash flow. In the eleven months to November 2008, Paulsens has produced 72,500 ounces of gold at a cash cost of US$481 per ounce, of which a total of 43,971ounces were delivered against the Westpac hedge arrangements. These hedge positions were a requirement of the project financing facility provided for construction of the process plant and site facilities at Paulsens. The debt associated with this facility was prepaid in June 2008 and the Company is net debt free with US$12 million cash at bank as at 30 November 2008 (unaudited). Intrepid CEO, Brad Gordon, said: "In the current financial environment, where the ability to self-fund is critical, I am delighted that we can enjoy the benefit of full exposure to current highly favourable gold prices." "Paulsens is looking to a resource upgrade soon to extend the mine life and underpin future development," he said. Whilst continuing to focus on extracting maximum value for shareholders from its three main assets, the Company has continued a programme of non-core exploration and non-mining asset divestments, to protect and enhance the Company's cash position. FORWARD-LOOKING STATEMENTS
Link: cnrp.ccnmatthews.com/client/intrepid_mines/release.jsp
Intrepid Mines Limited: Tujuh Bukit Project Zone A Resource Confirms Multi-Million Ounce Oxide Potential
HIGHLIGHTS:
- Inaugural 1.47 million ounce gold equivalent Inferred Resource at Zone A (mineralisation remains open to the south)
- Tujuh Bukit inventory, Zone A plus Zone C, now totals 2.57 million ounces gold equivalent in the Inferred Resource category
- Drilling continues in Zone B, with three holes completed.
- In addition to the shallower targets, deep copper - gold porphyry/high sulphidation drilling continues.
Link: www.marketwire.com/press-release/...Mines-Limited-TSX-IAU-931401.html
JAN 29, 2009 - 22:40 ET
BRISBANE, AUSTRALIA--(Marketwire - Jan. 29, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) ("Intrepid" or 'Company'), an international precious metals producer, developer and explorer operating in Australia, Argentina, Indonesia and Mexico, reports operating activities for the quarter ended 31 December 2008. The principle activities of Intrepid and its controlled subsidiaries (collectively referred to as the 'Consolidated entity') were the operation of the Paulsens Gold Mine, developing the Casposo gold and silver project, the exploration of the Company's tenement portfolio, and the pursuit of precious metal projects and explorations assets. All dollar figures are in United States dollars unless otherwise indicated. Intrepid today filed its Activities Report for the quarter ended 31 December 2008 which is available on the Intrepid website www.intrepidmines.com and at www.asx.com.au. The highlights of that report are provided below.
HIGHLIGHTS
Paulsens Operations
- Paulsens gold production of 18,713 fine ounces, up 14% on the prior quarter. The higher gold production resulted from the mining of higher grade Upper Zone stopes and record mill throughput. Annual gold production at 78,252 fine ounces was at the high end of the previous guidance.
- Unit operating costs at Paulsens recorded lower at $88 per tonne (prior quarter $111 per tonne) due to weakening Australian currency
- Site cash costs lower at $407 per ounce (prior quarter $558 per ounce) primarily due to the weakening Australian dollar (positive impact $135/oz), and 14% higher ounces produced (higher grade) than the previous quarter on a relatively fixed cost structure.
- Decline advanced to 64 metres vertically below the deepest stopes
- Demonstrated potential for significant extensions to mine life
-- 2 metres at 69.8 grams per tonne intersection 200 metres below current workings
-- 17 metres at 25.5 grams per tonne gold intersection within 40 metres of current level development
-- 4.5 metres at 58.2 grams per tonne gold (207g/t uncut) intersection more than 40 metres from the nearest drill intercept
Casposo Development
- The Casposo Development Project was suspended following the onset of the global financial crisis, with efforts focused on completion of the drill program, maintaining the granted licences and liaising with local and national governments on the project's future direction.
Exploration
- At Casposo, the 13,000 metre drilling program was completed. An updated Mineral Resource is due mid 2009.
- At Tujuh Bukit, the inaugural inferred resource at Zone A was declared - 1.47 million ounces gold equivalent at a cut-off of 0.5 grams per tonne gold equivalent. The project aggregate inventory (Zone A and C) totals 2.57 million ounces gold equivalent.
Finance
- Gold revenue for the quarter was $10.3 million from the sale of 18,437 ounces realising an average price for the quarter of A$835 per ounce ($561). Revenues Included the final 11,444 ounces of the hedge commitment at A$627 per ounce.
- The Company is now unhedged with total exposure to the spot gold price - A$1,370 per ounce at the date of this report.
Tujuh Bukit Inferred Resources, by Gold equivalent cut-offs, Zone A
Data is shown for Gold Equivalent (AuEq) cut-off values. The gold equivalent ratio for silver has been set at 65:1 based on US$650/oz gold and US$10/ oz silver. Historical bottle roll tests have shown recoveries of 83% gold and 84.5% silver, supporting a 65:1 ratio. Recently received CIL metallurgical testing results from Zone C achieved recoveries of approximately 90% for both gold and silver at a grind of 80% passing 75 um.
Qualified Person
Information that relates to mineral resources at Tujuh Bukit is based on information compiled by or under the supervision of Dr Phillip Hellman, who is an independent consultant to Intrepid Mines Limited. Dr Hellman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as an Independent Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and an Independent Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Dr Hellman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Dr Hellman has undertaken independent verification sampling and assaying of drill core with a close agreement of results with those previously reported.
The information in this report that relates to exploration results at Casposo, Taviche, El Salvador and Indonesia is based on information compiled by or under the supervision of Malcolm Norris, who is a member of The Australasian Institute of Mining and Metallurgy. Malcolm Norris is a full-time employee of Intrepid Mines Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results), Mineral Resources and Ore Reserves" and is a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Malcolm Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to exploration results at Paulsens is based on information compiled by or under the supervision of Brook Ekers, (Member AusIMM), who is a full-time employee of Intrepid Mines Limited. Mr. Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Brook Ekers consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Quality Control
A Quality Control sampling program of blanks and duplicates has been in operation at the Casposo Project since 2002 to monitor the integrity of all assay results. All core samples are split at the Company's Calingasta core facility and core samples with inserted control samples are currently shipped to Alex Stewart Assayers Argentina S.A. in Mendoza, Argentina, where they are dried, crushed, split and 50 gram pulp samples are prepared for analysis. Gold values are determined by fire assay with an atomic absorption (AA) finish and Silver values are obtained using gravimetric methods for mineralized veins. These samples and those from other areas are also analysed using an ICP multi-element scan.
Intrepid exercises a strict chain of sample custody in its drilling program at Tujuh Bukit, Indonesia. Joint Venture personnel remove core from the drill rig and deliver it to a project geologist who logs the core and marks the core into two metre sample intervals. Intrepid and Joint Venture personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the laboratory. The remainder of the split core remains on site.
Samples are securely packaged, batched, and then transported under supervision to Intertek's laboratory facility in Jakarta. At the laboratory, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are re-analysed by conventional atomic absorption methods to determine the absolute values of these metals.
Statements relating to gold resource estimates are expressions of judgment, based on knowledge and experience and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate. The drill programmes at Taviche are insufficiently advanced to define a resource estimate and it is uncertain if further drilling will result in the determination of a resource statement at these projects.
All core is logged and whole core samples (if LTK48 size, NQ2 sized core is cut and half cored) are marked and prepared for shipping at the Paulsens Mine Property and sent to an independent Laboratory for assay. The remaining half core is stored on site. All samples from which information in this document is derived were received by ALS Chemex - Australian Laboratory Services Pty (ALS) Limited in Karratha, Western Australia. Samples are weighed and crushed to 70% passing -6mm mesh. The crushed material is split and a portion is pulverised. A 100g pulp is sent to ALS Perth, Western Australia for assay. A 30 gram portion of the pulp is treated by Fire Assay method with atomic absorption finish (Au-AA25). A second pulp sample split (150-200g) is kept in Karratha. Sample rejects are discarded after 90 days.
Limit samples (greater than 100ppm Au) are re-analysed using ALS' dilution method (Au-DIL). Intrepid inserts one standard in each hole, and one blank is now inserted in each ore zone though this practice has only recently been adopted. Lab standards and blanks are inserted by ALS and several pulp duplicates are also assayed as a determinant of mineralisation variability.
ALS has AS/NZS ISO 9001:2000 certification in Perth. This does not cover the sample prep facilities; however these prep labs follow the same Quality management system. They are not audited by NCSI but are audited internally.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This release contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.
Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Statements relating to gold reserve and resource estimates are expressions of judgment, based on knowledge and experience and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate. Information provided relating to projected costs, capital expenditure, production profiles and timelines are expressions of judgment only and no assurances can be given that actual costs, production profiles or timelines will not differ materially from the estimates contained in this announcement.
Link: http://www.intrepidmines.com/..._content&view=article&id=58&Itemid=66
FEB 4, 2009 - 17:15 ET
CHANGES AFFECTING SENIOR EXECUTIVE AND DIRECTOR REMUNERATION
BRISBANE, AUSTRALIA--(Marketwire - Feb. 4, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") announces that its Board has completed a comprehensive review of remuneration policies for senior executives and directors, including contract arrangements in force at the time of the merger with Emperor Mines Limited.
Details of these revisions are available on the Intrepid website www.intrepidmines.com, www.sedar.com and www.asx.com.au. The highlights of the revisions are reported below.
A number of changes have been made with regard to the remuneration arrangements for the Company's Chief Executive Officer, the Leadership Team reporting to the Chief Executive Officer and Directors.
The key points of these new remuneration arrangements are:
- a reduction in the CEO's Total Fixed Remuneration (guaranteed) in return for an enhanced short term and long term incentive potential - subject to relative performance measured against peer groups;
- no salary increases for 2009; and
- the partial payment of directors' fees in Company shares to align with shareholder interests.
Link: http://www.intrepidmines.com/..._content&view=article&id=58&Itemid=66
BRISBANE, AUSTRALIA--(Marketwire - Feb. 25, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") is pleased to announce the release of its 2008 Financial Results for the year ended 31 December 2008.
Documents relating to these results, including the Financial Report and Management's Discussion and Analysis are available on SEDAR (www.sedar.com), the ASX (www.asx.com.au) and on the Company's website: www.intrepidmines.com.
CONFERENCE CALL
The Company will host two conference calls to discuss the 2008 Financial Results. Details of the call times and dial-in numbers appear below. Brad Gordon, Chief Executive Officer of Intrepid, will chair the call. To participate in the conference calls, please call in ten minutes prior to the scheduled start times. For those unable to participate in the conference calls at the scheduled times, a recording of the calls will be available from 27 February 2009 on the Company's website www.intrepidmines.com.
Link: http://www.intrepidmines.com/..._content&view=article&id=58&Itemid=66
FEB 25, 2009 - 01:11 ET
PAULSENS GOLD MINE ACHIEVES A$1000 OZ CASH MARGIN.
BRISBANE, AUSTRALIA--(Marketwire - Feb. 25, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") is pleased to report that its Western Australian gold mine, Paulsens, continues to improve production and contain costs. The operation achieved a cash margin of A$1,000 an ounce last week.
In the eight weeks since 1 January 2009, the Paulsens mine has produced 15,000 ounces of gold and it is on track to produce more than 20,000 ounces in the March 2009 quarter.
Intrepid CEO, Brad Gordon, today said that with the increase in recent weeks in the Australian denominated gold price to A$1,550 an ounce, the Paulsens mine had achieved a cash margin of A$1,000 an ounce.
"A combination of factors, including the rise in the Australian dollar gold price, the closeout of our hedging position last year which means we get full value for our production, and a lift in production grades towards 12 grams per tonne allowed us to achieve a margin of $1,000 an ounce last week.
"For an underground gold mine to have achieved such a strong performance - albeit for a week - is, I believe, exceptional and a very rare occurrence indeed.
"The gold price is out of our hands and whether we can maintain such margins is still to be seen, so the focus for the operations team at Paulsens remains on safe and efficient gold production.
"Our December quarter production costs of US$407 place us among the lowest third of world gold producers in relation to production costs."
"As the Company's year end results show, we are in a sound financial position, with US$14.2 million cash in the bank as at 24 February 2009, and no debt or hedging."
"With the recent increase in gold prices, and more recently silver prices, the Company's major development assets - the Casposo gold/silver project in Argentina and our copper/gold/silver Tujuh Bukit project in Indonesia - continue to grow in potential."
FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.
Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
ABN: 11 060 156 452
FOR FURTHER INFORMATION PLEASE CONTACT:
Intrepid Mines Limited
Brad Gordon
Chief Executive Officer
+61 7 3007 8011
Email: bgordon@intrepidmines.com.au
Website: www.intrepidmines.com
Link: http://www.intrepidmines.com/..._content&view=article&id=58&Itemid=66
Das ein Wort. Da bin ich mal auf den Finanzbericht gespannt....
MAR 2, 2009 - 21:15 ET
- 22 metres @ 6.35g/t gold, 15.9g/t silver from 36 metre downhole
- within an interval of 64 metres @ 2.65g/t gold, 17.1g/t silver
- high sulphidation copper-gold-silver mineralisation intersected at depth - potentially extending the comparable Zones A and C mineralisation 1 km to the south.
BRISBANE, AUSTRALIA--(Marketwire - March 2, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") is pleased to report that diamond drill hole GTD 58 at the Tumpangpitu Prospect, Tujuh Bukit Project has intersected near surface high grade gold-silver mineralisation.
GTD 58 was drilled within the central portion of Zone B on an azimuth of 270 degrees. The hole was collared near historical hole GTD 5, which was drilled on azimuth 180 degrees (see diagrams below).
Results have also been received from 3 other holes drilled at Zone B -- GTD 54, 55, and 57. Results from holes 59 and 60 are expected within the next few weeks. Drilling is continuing. Data review to plan additional drilling at Zone B south is also in progress.
Zone B is located 1 kilometre southeast of Zones A and C where an aggregate inferred oxide resource of 2.57 million ounces gold equivalent (gold + silver) has been estimated.
In addition to the near surface oxide gold-silver mineralisation the drill holes at Zone B have intersected high sulphidation copper-gold-silver mineralisation below approximately 200 metres from surface (see figure below). This is significant and provides encouragement for future deeper drilling at Zone B to define high sulphidation and porphyry related copper-gold-silver mineralisation similar to that intersected in deep drilling near zones A and C.
Results from hole GTD 58 are -
Oxide mineralisation-------------------- 24 - 88 metres: 64 metres at 2.65 grams per tonne gold, 17.2 grams per tonne silver, 2.91 grams per tonne gold equivalent Including 36 - 58 metres: 22 metres at 6.43 grams per tonne gold, 15.9 grams per tonne silver, 6.67 grams per tonne gold equivalent.
High Sulphidation mineralisation----------------- 248 - 292 metres: 44 metres at 0.11 grams per tonne gold, 0.31% copper, and 13.3 grams per tonne silver 310 - 338 metres: 28 metres at 0.22% copper, 1.5 grams per tonne silver.
The high grade oxide gold-silver results from hole GTD 58 are consistent with intercepts from the historical hole GTD 5 -
GTD 5 - Oxide mineralisation--------------- 25.1 - 82.1 metres: 57 metres at 0.71 grams per tonne gold, 6.5 grams per tonne silver, 0.81 grams per tonne gold equivalent 106.1 - 193.1 metres: 87 metres at 1.8 grams per tonne gold, 13 grams per tonne silver, 2.0 grams per tonne gold equivalent Including 163.1 - 178.1 metres: 15 metres at 6.14 grams per tonne gold, 9.4 grams per tonne silver, 6.29 grams per tonne gold equivalent.
Results from nearby holes GTD 54, 55, and 57 include -
--------------------------------------------------From (m) Interval Gold Silver Gold Equiv (gold + Copper Comments (m) (g/t) (g/t) silver) g/t (%)--------------------------------------------------Hole GTD 54--------------------------------------------------130 12 0.2 8.7 0.34 oxide--------------------------------------------------192 22 0.6 7.7 0.72 oxide--------------------------------------------------192 94 0.25 11.1 0.43 anom anomalous copper to 1.12%--------------------------------------------------Hole GTD 55--------------------------------------------------234 66 0.03 3.8 0.09 0.21 anomalous copper to 0.73%--------------------------------------------------Hole GTD 57--------------------------------------------------90 92 0.77 15.7 1.01 oxide--------------------------------------------------252 118 0.19 17.6 0.46 0.3 anomalous copper to 2.86%--------------------------------------------------Note: Intervals shown are down hole intervals. This is the first pass of drilling in Zone B and true widths are not known at this stage.
Also of interest are anomalous results in historical holes 7 and 13 located approximately 400 metres to the northwest of holes GTD 58 and 5. Anomalous gold and silver values in the oxide zone of these holes suggest that the margins of the Zone B oxide mineralisation may locally extend beyond the limits suggested by surface gold anomalism in soil samples, thus further expanding potential target areas.
This initial drilling in Zone B is highly encouraging, both for the definition of near surface high grade oxide gold--silver domains and for the encouraging indications of high sulphidation gold-silver-copper mineralisation comparable to that seen at Zones A and C. Mineralisation has now been defined over a strike length of 3 kilometres from the outcropping mineralisation on Pulah Merah island to Zone B.
To view a figure showing the location of Zone B drilling relative to Zones A and C, please visit the following link: http://media3.marketwire.com/docs/iau0302fig1.pdf
To view a plan showing locations of drill holes in Zone B, please visit the following link: http://media3.marketwire.com/docs/iau0302fig2.pdf
To view a composite long section showing location of drill holes in Zone B, please visit the following link: http://media3.marketwire.com/docs/iau0302fig3.pdf
FORESTRY ACTIVITIES
The Indonesian Forestry Law restricts non forestry activities within protection forests and prohibits mining using an open pit method in protection forest areas. Accordingly, Intrepid's Alliance partner, PT IMN, is working with relevant Indonesian authorities to allow for a review of forest land status.
FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.
Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Statements relating to gold resource estimates are expressions of judgment, based on knowledge and experience and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate. The drill programme at Tujuh Bukit is insufficiently advanced to define a resource estimate and it is uncertain if further drilling will result in the determination of a resource statement at the project.
QUALIFIED PERSON
The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Malcolm Norris, who is a full-time employee of Intrepid Mines Limited. Mr. Norris has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Mr. Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
SAMPLE ANALYSIS
Intrepid exercises a strict chain of sample custody in its drilling program at Tujuh Bukit. Joint Venture personnel remove core from the drill rig and deliver it to a project geologist who logs the core and marks the core into two metre sample intervals. Intrepid and Joint Venture personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the laboratory. The remainder of the split core remains on site.
Samples are securely packaged, batched, and then transported under supervision to Intertek's laboratory facility in Jakarta. At the laboratory, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are re-analysed by conventional atomic absorption methods to determine the absolute values of these metals.
Gold equivalents
The gold equivalent ratio for silver has been set at 65:1 based on US$650/oz gold and US$10/oz silver. Historical bottle roll tests have shown recoveries of 83% Au and 84.5% Ag, supporting a 65:1 ratio. Recently received CIL metallurgical testing results from Zone C achieved recoveries of approximately 90% for both Au and Ag at a grind of 80% passing 75 um. Comparable recoveries for both gold and silver in the recent tests from 4 composite samples from Zone C oxide material also support the 65:1 gold equivalence ratio.
ABN: 11 060 156 452
Link: http://www.intrepidmines.com/...;view=article&id=58&Itemid=66
OTC (USD) 0,201 +0,60 +0,0012 16:35 - - - - 500
February 2009
Year End Financials Conference Call Recording
Link: http://www.intrepidmines.com/images/stories/...E08_20090225_QA_PM.mp3
OTC (USD) 0,207 +1,17 +0,0024 14:59 - - - - 2.500
MAR 25, 2009 - 22:43 ET
BRISBANE, AUSTRALIA--(Marketwire - March 26, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") has agreed to sell the Casposo project in Argentina for a total consideration of US$22 million (approximately A$31 million) cash.
The purchaser, Troy Resources NL ("Troy"), has completed detailed technical, legal and corporate due diligence in respect of the project.
The purchase consideration is:
- US$20 million on completion of the sale transaction; and
- an additional US$2 million payable six months after the commencement of production at Casposo.
The sale is conditional on the normal governmental, regulatory or statutory approvals being obtained and completion of the reorganisation of Intrepid Minerals Corporation, the subsidiary company through which Intrepid holds Casposo.
Troy and Intrepid will act in good faith to settle a definitive agreement setting out the terms of the purchase and sale of the shares of IMC, which will contain covenants, representations and warranties that are customary in a transaction of this nature. The parties have further agreed to a reciprocal break fee of US$250,000, payable in the event that either party breaches the terms of the sale agreement.
Troy has advised that, given the advantages of its current operating presence in Latin America, surplus plant equipment and cash reserves, it is its current intention to commence construction at Casposo as soon as practically possible.
Troy anticipates continuing and extending the excellent relationship established by Intrepid with the San Juan Government and Governor.
Intrepid CEO, Brad Gordon, said the Casposo sale would allow the Company to focus its energies on its 80,000 ounce per annum Paulsens gold mine in Western Australia and provide additional financial flexibility in considering its options for developing the Tujuh Bukit gold-silver oxide resource in East Java, Indonesia, which is located directly above a significant but separate copper-gold sulphide mineralised zone.
"Intrepid is debt free and hedge book free and our Paulsens gold mine continues to generate healthy cash flow of approximately US$3M a month," Mr Gordon said. "This sale will add significantly to our cash balance and strong financial position, enabling us not only to focus on our two remaining assets but also to consider a range of corporate opportunities to further enhance our shareholder value and prospects."
FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may" and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.
Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
ABN: 11 060 156 452
FOR FURTHER INFORMATION PLEASE CONTACT:
Intrepid Mines Limited
Brad Gordon
Chief Executive Officer
+61 7 3007 8011
bgordon@intrepidmines.com
www.intrepidmines.com
LINK: http://www.intrepidmines.com/...;view=article&id=58&Itemid=66
TORONTO, ONTARIO--(Marketwire - April 15, 2009) - Intrepid NuStar Exchange Corporation (TSX:IXN) (the "Corporation"), a wholly-owned subsidiary of Intrepid Mines Limited (TSX:IAU)(ASX:IAU) ("IML") wishes to announce that, on 30 April 2009, all outstanding Exchangeable Shares of the Corporation will be redeemed. Holders of Exchangeable Shares will receive one ordinary share of IML for each Exchangeable Share held.
The redemption is being undertaken to facilitate the sale of the Casposo project to Troy Resources NL as announced in IML's press release dated 26 March 2009 (the "Transaction"). The Transaction constitutes an Exchangeable Share Voting Event as such term is defined in the terms governing the Exchangeable Shares, permitting the Corporation to redeem the Exchangeable Shares prior to the original deadline for redemption, 4 July 2009.
Holders of Exchangeable Shares will receive a Notice of Redemption setting out further details of the redemption process with the proxy materials for the upcoming annual meeting of IML, to be held on 15 May 2009.
Holders of Exchangeable Shares who have already submitted their shares for retraction will receive their IML Shares on 29 April 2009.
The Corporation will be delisted from the TSX as of the close of business on 30 April 2009, although IML retains its listing on both the TSX and ASX.
ABN: 11 060 156 452
www.intrepidmines.com