IAU-Intrepid mines GOLD silver

[JBmurc]

Intrepid Mines is an international precious metals production, development and exploration company with operations in Australia, Argentina and Indonesia.

Mrktcap-95-106mill

CASH-Caposo Sale $AUD22 mil +20-25 in the bank=42mill+




http://www.intrepidmines.com/index.php?option=com_content&view=article&id=54&Itemid=62

One of the few Jnr goldie with solid fundamentals,low hype,low cost,good grounds to further increase reserves


OVERVIEW
Finance
• Group profit after tax for the three months ended 31 March 2009 of $3.8million (un-audited).
• Paulsens earnings before interest, taxes, depreciation and amortisation (EBIDTA) of $12.2 million (unaudited)
for the three months ended 31 March 2009.
• Cash balance at the date of this report was $18.5 million.
Paulsens Operations
• Paulsens gold production of 20,141 fine ounces was up 8% over the prior quarter (18,713 ounces).
The continued strong performance of the Paulsens operation was due to mining of higher grade Upper Zone stopes and increased air-leg stope tonnes.
• Site cash costs lower at $312 per ounce (prior quarter $407 per ounce) primarily due to 8% more ounces produced (higher grade) and lower costs of production compared with the previous quarter.
• Record underground diamond drilling continued during the quarter with both grade control drilling and resource extension targets met.
• Paulsens mineral resources at 31 December 2008 were 148,600 ounces and ore reserves were 49,300 ounces. The ore reserves do not incorporate drilling results below about 350 meters depth.
• A new structural geology study of the ore body at depth supported the extension of drilling to 600 meters below surface (current workings at 350 meters below surface). The first such hole, PDU726, intercepted 9 meters of mineralisation in quartz at more than 600 meters below surface and further drilling is planned in
this area.

Casposo Development
• The Company announced during the quarter an agreement to sell the Casposo project in Argentina to Troy Resources NL for a total consideration of US$22 million of which $2 million is deferred (approximately A$31 million) cash. The sale, which is to be effective through the transfer of shares in the Intrepid Mineral Corporation (IMC), is subject to the finalisation of a formal Share Sale Agreement and allrequired government, legal and regulatory approvals being obtained. The completion of the Casposo saleis expected to occur in May 2009.

Exploration
• Drilling programs have been approved on all three of the Company’s remaining exploration projects-
Paulsens Regional in Western Australia, Tujuh Bukit in Indonesia (ongoing) and Taviche in Mexico.
• At Tujuh Bukit, mineralisation has now been defined over a strike length of 3 kilometers.
• At Tujuh Bukit, high grade gold mineralisation was intersected in Zone B drilling where hole GTD 58 intersected 22 meters at 6.35 grams per tonne gold, 15.9 grams per tonne silver from 36 meters downhole, within an interval of 64 meters at 2.65 grams per tonne gold, 17.1 grams per tonne silver from 24 meters down hole. From drilling completed to date, Zone B appears to be higher grade than zones
A and C.
• At Tujuh Bukit, deep hole GTD 56 intersected 226 meters at 0.72 grams per tonne gold and 0.44% copper
(includes 100 meters at 0.95 grams per tonne gold and 0.67% copper) from 450 meters down hole and
confirms the continuity of the porphyry system previously defined in holes GTD 29, 35 and 42.

[JBmurc]

SALE OF CASPOSO
COMPLETED
07 May 2009: - Intrepid Mines Limited (“Intrepid”) (ASX & TSX:IAU) is pleased to announce the
completion of the previously announced (see news release of March 29, 2009) sale of its Casposo
project in Argentina for a total consideration of US$22 million cash.
The sale was effected by way of transfer of all the shares in Intrepid’s wholly-owned subsidiary,
Intrepid Minerals Corporation, to purchaser Troy Resources NL (“Troy”). US$20 million was paid by
Troy on completion of the transaction, and a further US$2 million will be payable six months after first
gold production at Casposo.
Intrepid CEO, Brad Gordon, remarked: “The proceeds generated by this sale together with the
current treasury position of US$19 million will be used to strengthen our operations at our 80,000
ounce per annum Paulsens gold mine in Western Australia, for further development of our Tujuh
Bukit gold-silver oxide resource in East Java, Indonesia, which is located directly above a significant
but separate copper-gold sulphide mineralised zone, whilst providing additional financial flexibility as
we actively consider new opportunities to drive our near term corporate growth strategy.”

[JBmurc]

Acorn Capital Limited- increasing their holding in IAU from 26mill to 32mill shares or 7.8%
pretty sure Acorn also hold a major shareholding in STX so pretty smart investors

[JBmurc]

nice buying today day high so far 30c chart looks nice for this gold producer ,no hedges,no dept,penalty potential

[JBmurc]

It looks like Paulsens' mine life will be extended by a number of years this was the only real negative I found before buying a share,, increased my holding again today on the news should move alot higher from here -low cost Gold production + cash + no hedges or dept +new high grade's

http://hotcopper.com.au/announcementFiles/2009/IAU/8b465168-ab91-4b33-82b3-cb68e1929b62-IAU447418.pdf

[Huang Chung]

Went to the AGM last Friday JB, just to hear what that had to say.

They were 'hopeful' of extending the mine life of Paulsens, but the was still a level of uncertainty. Indonesian project seems excellent, but they still have the forestry issue to get sorted. Brad Gordon was saying that this is what is holding the share price back. The officials that will write the report have visited the site, and there should be some outcome later in the year. It should be noted that the reason they can't currently do an open cut mine on this land is for errosion/land slide reasons, not environmental. They can still go UG on this land to access the sulphide zone, but that won't be on the cards for years, and he said they would need a partner as it would cost billions to develop.

[JBmurc]

Went to the AGM last Friday JB, just to hear what that had to say.

They were 'hopeful' of extending the mine life of Paulsens, but the was still a level of uncertainty. Indonesian project seems excellent, but they still have the forestry issue to get sorted. Brad Gordon was saying that this is what is holding the share price back. The officials that will write the report have visited the site, and there should be some outcome later in the year. It should be noted that the reason they can't currently do an open cut mine on this land is for errosion/land slide reasons, not environmental. They can still go UG on this land to access the sulphide zone, but that won't be on the cards for years, and he said they would need a partner as it would cost billions to develop.

Yeah good one HC actually sold my position at 29.5c late today will re-enter again soon just made a nice profit(paid av 25.8c) an believe it will trade between 27c-30c range like to have a small amount of cash on-hand after such a strong bear rally in the stocks I hold.....

[JBmurc]

wow didn't think I'd see IAU fall back to 25c levels again after smashing though 30c on to 40c the Gold prices has really dragged it down hard Good buying at these levels IMHO

[JBmurc]

Summary
• vale to spend us$40m total to earn a 60% interest in the tujuh bukit sulphide coppergold
project
• vale to free carry intrepid through to completion of a bankable feasibility study
• intrepid to retain 100% of its existing rights to the gold-silver oxide project which
has a current inferred resource inventory of 2.57 million ounces gold equivalent
the transaction specified in the heads of agreement between intrepid and vale would:
• realise significant value for intrepid for its interest in the sulphide copper-gold
project
• see the large scale sulphide copper-gold project progressed by a world class partner
with the project development and financial capabilities to develop multi-billion
dollar projects
• help manage intrepid’s future capital requirements
while allowing intrepid to focus on creating near term value through the development
of the gold-silver oxide project on a standalone basis.

[JBmurc]

"Intrepid's deal with Vale on Tujuh Bukit is a major strategic milestone for the company. It
strengthens IAU's financial position, provides a means for ongoing evaluation of the (potential)
world class copper-gold project, and implies a value on IAU well above that being recognised by
the market. The deal has similarities with that struck by Indophil with Xstrata over Tampakan, and
should at least force Australian investors to sit up and take more notice of Tujuh Bukit which is
going largely unrecognised in IAU's current market cap.

Intrepid will retain 100% of its share of the overlying oxide gold-silver project - a much more manageable project for a company of IAU's size, with scope for developing a 100-150kozpa gold-silver operation. Importantly, Vale will sole
fund both the pre-feasibility and Bankable feasibility studies on the sulphide project - worth
upwards of US$60-70m in drilling, assaying and testwork alone.

IAU remains our key small-cap gold pick, with the growing potential to evolve into a much larger
copper-gold play in the longer term. And remember that copper is by far the most favourable
commodity exposure, given that China is structurally short of the metal. This deal will take time to
be recognised by the market for IAU, however it highlights the potential of the project, as seen by
the second largest global miner, Vale."

[JBmurc]

ZONE B DRILLING DELIVERS
• HIGH GRADE GOLD INTERCEPTS IN THE OXIDE ZONE REPRESENT HIGHER GRADE DOMAINS WTHIN A
BROAD LOWER GRADE HALO
• FIRST HOLE IN ZONE B SOUTH INTERSECTS 14M @ 3.54G/T GOLD AND 14M @ 2.89G/T GOLD
• SIGNIFICANT COPPER-GOLD-SILVER IN THE SULPHIDE ZONE INDICATES VERY POSITIVE UPSIDE
• ZONE B SOIL ANOMALY IS LARGER THAN ZONES A & C (2.6MOZ)
• ZONE B RESOURCE EXTENSION PRIOR TO YEAR END
16 July 2009: Intrepid Mines Limited (ASX & TSX: IAU) (the “Company”) is pleased to report that ongoing diamond drilling in
Zone B of the Tumpangpitu Prospect, Tujuh Bukit Project has continued to define some higher grade gold-silver oxide zones
within a broad lower grade envelope.

[shasta]

ZONE B DRILLING DELIVERS
• HIGH GRADE GOLD INTERCEPTS IN THE OXIDE ZONE REPRESENT HIGHER GRADE DOMAINS WTHIN A
BROAD LOWER GRADE HALO
• FIRST HOLE IN ZONE B SOUTH INTERSECTS 14M @ 3.54G/T GOLD AND 14M @ 2.89G/T GOLD
• SIGNIFICANT COPPER-GOLD-SILVER IN THE SULPHIDE ZONE INDICATES VERY POSITIVE UPSIDE
• ZONE B SOIL ANOMALY IS LARGER THAN ZONES A & C (2.6MOZ)
• ZONE B RESOURCE EXTENSION PRIOR TO YEAR END
16 July 2009: Intrepid Mines Limited (ASX & TSX: IAU) (the “Company”) is pleased to report that ongoing diamond drilling in
Zone B of the Tumpangpitu Prospect, Tujuh Bukit Project has continued to define some higher grade gold-silver oxide zones
within a broad lower grade envelope.

IAU - Quarterly Activities Report

http://www.stocknessmonster.com/news-item?S=IAU&E=ASX&N=453080

JBMurc - you certainly have an eye for these smaller Gold/Silver plays :cool:

There grades seem pretty good too

[JBmurc]

IAU - Quarterly Activities Report

http://www.stocknessmonster.com/news-item?S=IAU&E=ASX&N=453080

JBMurc - you certainly have an eye for these smaller Gold/Silver plays :cool:

There grades seem pretty good too

Yeah had a bit of time to study of late IAU,TRY are both very well positioned to grow massively for jnr producers if your bullish Gold & silver these are going to outperform most others

[JBmurc]

been getting hammered of late only good thing is the fact I took some nice profits at 35c now back in at the same price of 31.5c will hold to 40c this time .

[dragonz]

been getting hammered of late only good thing is the fact I took some nice profits at 35c now back in at the same price of 31.5c will hold to 40c this time .

I still have mine dispite indicators telling me to sell. I was getting a bit heavy in cash so keeped CFE, IAU and 1/2 of my NPX. At this stage I have a target of 43 cents for IAU so I'm hoping it doesnt go under my purchase price (31.5).

Man this beginning of the bull will be a life changer for some people. Only once in a life time event so its good to see fellow traders earning good returns.

[JBmurc]

I still have mine dispite indicators telling me to sell. I was getting a bit heavy in cash so keeped CFE, IAU and 1/2 of my NPX. At this stage I have a target of 43 cents for IAU so I'm hoping it doesnt go under my purchase price (31.5).

Man this beginning of the bull will be a life changer for some people. Only once in a life time event so its good to see fellow traders earning good returns.

Well I really believe the major part of the Gold bull market is getting close
As for the USD DOW Nasdaq I'm picking another major fall which will be bullish for the PGM's But not so for the overall ASX

your do well if you hang onto CFE it's got truckloads of value ....

[dragonz]

Well I really believe the major part of the Gold bull market is getting close
As for the USD DOW Nasdaq I'm picking another major fall which will be bullish for the PGM's But not so for the overall ASX

your do well if you hang onto CFE it's got truckloads of value ....

Re CFE. Yep I think your right. Had a sell order in for 36.5 when the sp broke through the williams 14% but then realised that its when the sp breaks back under the -20 that I look at selling. Thankx it could have been a pre-esharuckulation. Withdrawing my sell as we speak.

[JBmurc]

Re CFE. Yep I think your right. Had a sell order in for 36.5 when the sp broke through the williams 14% but then realised that its when the sp breaks back under the -20 that I look at selling. Thankx it could have been a pre-esharuckulation. Withdrawing my sell as we speak.

CFE isn't a share I'd sell not till it's well north of $1 CFE's Tony sage believes a sale of marampa for US$400M or A$500M could well happen by christmas..

Now with a market cap of- 181mill some 70mill+ cash after tax is paid (including MCC payment)

-Add in the fact -Lady anne will be sold for a min 150mill more likely 200mill within 12months

-Your've still got assets with major upside -Iron ore ,mill+ oz gold mines etc etc

This time next year we could well see CFE with 80c-$1 in cash per share with a couple new 100mill projects up for sale

[JBmurc]

LATEST RBS RESEARCH

Intrepid Mines (IAU.AX): Tujuh Bukit - it's big

Long term (12 months): Buy
Target price: A$0.60 (from A$0.51)
Reason: Change of target price

The oxide gold-silver cap at Tujuh Bukit (IAU 80%) is now 3.3 million ounces of gold equivalent, and not closed off. It overlies a gold-copper sulphide resource that is shaping as an "elephant". Paulsens gold mine generated US$31m EBITDA in CY09.

Oxide gold-silver - 3.3 million ounces and climbing?
Intrepid has an 80% interest in the Tujuh Bukit project in eastern Java. Three of five known oxide mineralised zones (A, B & C) contain over 3.3 million ounces of gold equivalent - gold plus silver converted on the basis of relative price - in 100mt at a grade of 1.0g/t gold equivalent, with a 0.5g/t cut-off. These three zones are yet to be closed off, and drilling of zones E and F is yet to be completed. This oxide resource lies within Protection Forest, under which open pit mining is prohibited. There are two avenues to obtain relief from this restriction. Either the Minister for Forestry can approve conversion to Production Forest, or under the Spatial Land Use Planning regulations, the Regency and the Province can approve open pit mining. We understand that this course of action is supported by local authorities.

Sulphide gold-copper - how good is this?
A gold-copper porphyry outcrops at the foot of the hill on which the oxide cap sits and drilling below the oxide gold-silver system confirms this is a major gold-rich mineralised system. The first drill test, GTD-08-35, reported 627m @ 0.45g/t Au and 0.44% Cu, including 108m @ 0.95g/t Au and 0.9% Cu. The most recent hole on the same cross section reported 374m at 1.03g/t Au and 0.5% Cu, including a comparable higher grade core of 106m @ 2.78g/t Au and 1.24% Cu. A simple mathematical average of the six full intersections reported to date gives an average of 300m 0.6g/t Au, 0.4% Cu and 90ppm Mo, with the average of the higher-grade zones reported in each hole one third the length and double the grade.

Paulsens gold mine - to close and re-open in late 2010
Paulsens generated EBITDA of US$31.0m for FY09. Processing is temporarily suspended, but mining is continuing from the 128,000oz gold resource, generating further cashflow for perhaps 12 months. Intrepid has also announced the farming in to earn a 60% interest in the potentially major Shyri gold-silver-copper property, Ecuador.

[Huang Chung]

'This oxide resource lies within Protection Forest, under which open pit mining is prohibited. There are two avenues to obtain relief from this restriction. Either the Minister for Forestry can approve conversion to Production Forest, or under the Spatial Land Use Planning regulations, the Regency and the Province can approve open pit mining. We understand that this course of action is supported by local authorities.'

That's the gamble with Intrepid....if they get the green light, watch it go ballistic. If they don't, well, better not to think too much about that.....

I went to the AGM the year before last, where Brad Gordon was at pains to make sure shareholders understood the forrestry issues, and even said something like 'its important you understand this'.

The process of getting all the necessary ticks is also taking a very long time.

[JBmurc]

IAU now .47 just like CUE yet another company I'd wished I held onto oh well can't have them all

[JBmurc]

IAU ---90c yes 90c this time last year I paid 31c any IAU holders here be happy campers

[Jess9]

Nice work.

The right coy and some patience works a treat!

[JBmurc]

Nice work.

The right coy and some patience works a treat!

no well I sold for not much higher so bit gutted just like NIP placed an order only couple weeks back in the low 20'c now it's 34.5c

[JBmurc]

checkout the 2yr chart

[soulman]

The market is very dangerous ATM with coy with overseas investment. IAU the first to feel the heat. NMG too.

[macduffy]

Yes, a timely reminder to take full account of country risk when investing in "Australian" miners/explorers.

http://news.smh.com.au/breaking-news-business/australian-miner-kicked-off-foreign-site-20120723-22k8h.html

[JBmurc]

Been looking over IAU once again can buy for 30.5c ....current market value 180mill cash 120mill ......good outcome for IAU one of the world's largest undeveloped copper-gold-silver resources ...would see SP double overnight....SP hit a high near 5 times todays before Tujuh Bukit arrangement went south...

[soulman]

Did you get any JB. Good call on the rise.

[soulman]

Looks like no luck in this one. Bought at 31, sold at 32. Watched it closed at 36 and had an order in there during the 10 min closing period missed by a few seconds at 36. Left the order in at 36 yesterday for today. IAU opened at 36.5, neverlooked back and now in the 40's.....Frustration....yes, but yesterday was a very nice day for me. As Gordon Gekko said....mixed emotion.