So_Cynical
The Contrarian Averager
- Joined
- 31 August 2007
- Posts
- 7,467
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- 1,469
LOL they opened at 19c - with all that cash, crazy stuff...IAU now trading at 2008 prices.
Down 56% today... ouch, would have been a perfect candidate to short.
(3rd-January-2008) Intrepid closed at 34 cents today, so a great day for people like me who got in at 24 just a few weeks ago..
Intrepid has so much going for it as i posted previously.
IAU go u good thing.:bananasmi
Intrepid’s Alliance partner, PT IMN, is working with relevant Indonesian authorities regarding a potential review of forest land status. There is no assurance that the forestry reclassification will take place in this instance. PT IMN received an extension of the Forestry Exploration Permit dated 7 July 2014, which allows for exploration activities within forestry areas.
I've consulted my legal team from Get a Grip and Sons and they have advised that I should be quote 'quaking in my boots'. They are working on a detailed defence against this very dangerous comment.Not sure that qualifies as "untrustworthy management". Before you make comments you probably need to do a bit of basic research. Mouthing off without knowing the facts can be dangerous. I'll be copying your posts and filing just in case IAU want to pursue something later on.
Wouldn't be surprised if there was a decent dead cat bounce that could have been traded.
There's 50% just today from 19c open to 30c high. I managed to get in at 20.5c and closed at 24c. Could have trailled the second part a lot better than I did. Oh well.
My guess is that the motive is either higher % ownership, or something nationalistic / protectionism agenda. Interesting to watch it unfold as long as you are not a holder.
Just cash backing is 25c or something.Can I ask a noob question - what would cause that dead cat bounce? the news is very uncertain so why would people start buying again today?
Thanks
My guess is that the motive is either higher % ownership, or something nationalistic / protectionism agenda. Interesting to watch it unfold as long as you are not a holder.
Can I ask a noob question - what would cause that dead cat bounce? the news is very uncertain so why would people start buying again today?
Thanks
Indo Multi Niaga halts work at Tujuh Bukit site, Intrepid says
BY: ROBB M. STEWART From: Dow Jones Newswires July 23, 2012 11:25AM
SHARES in Intrepid Mines tanked 60 per cent after trading resumed today, following news that the minority partner to the explorer of precious metals had halted operations at their Tujuh Bukit project in Indonesia.
Intrepid today traded at 22 cents. The shares entered a trading halt in Sydney on Thursday, at Intrepid's request, ahead of a statement on the project.
That statement was issued the following day in Canada, where it triggered a 36 per cent fall in the dual-listed company's shares on the Toronto exchange.
Intrepid in its statement said joint-venture partner Indo Multi Niaga had suspended operations at the Java island project and requested several senior managers, including all expatriate employees seconded to IMN, to leave the site.
The Australian company said it has always been in compliance with all of its obligations under the joint-venture agreements and applicable law for the project.
Intrepid said, "This interruption will impact the company's timetable for delivery of an updated porphyry resource estimate and, further, may impact work on the updated oxide resource."
Intrepid has an 80 per cent equity interest in the project, which covers 11,621 hectares and includes several prospects where the companies are exploring gold-silver and deeper copper-gold mineralisation.
The precious metals miner in late June said new shareholders who had joined the register of IMN collectively own 80 per cent of the capital of the Indonesian company, which holds the mining licences for the project.
Intrepid said it was attempting to hold discussions with the new and original shareholders of IMN for drilling at the site to resume as soon as possible.
About $US95 million ($91.9m) in capital expenditure on the project has been solely funded by Intrepid so far, including financing for the original shareholders of IMN to meet contribution commitments, it said.
Anyone else sus about why they have so specifically refer to being in compliance?
Just from the March quarterlies
IAU cash on balance sheet: 139
Expected Quarterly Outflow: 15.6
Cash = 123/
526m shares
=$0.235 cash backing as of 31st June
Slightly less now for working capital costs
As a beginner, can anyone explain the significance of this cash backing calculation?
Just from the March quarterlies
IAU cash on balance sheet: 139
Expected Quarterly Outflow: 15.6
Cash = 123/
526m shares
=$0.235 cash backing as of 31st June
Slightly less now for working capital costs
As a beginner, can anyone explain the significance of this cash backing calculation?
Although in reality it rarely happens so the cash backing is further discounted as shareholders don't really have a say in accessing it.
Tujuh Bukit, Indonesia PT IMN shareholders and board members named
Intrepid Mines Limited (“Intrepid”, the “Company”) (ASX & TSX – “IAU”) provides an update following on the advice to the market on 28 June 2012 regarding the change in shareholding of its Indonesian joint venture partner, PT Indo Multi Niaga (“IMN”).
The Company has sought to engage the original shareholders of IMN on the identity of the new shareholders, without success. Enquiries made at the Indonesian Ministry of Law and Human Rights revealed that the following additional individuals and entities were listed as shareholders of IMN as at 12 June 2012:
PT Cinta Kasih Abadi
PT Selaras Karya Indonesia Andreas Tjahjadi
Rahmad Deswandy.
The Company is not able to give any assurance as to the accuracy of this information, as the publicly available information is sourced from filings which are the legal responsibility of the Directors of IMN, and there is no assurance that these filings are correct or current.
Anyone understand this deal with the Indonesian investor? Have they just given him 5% of the company for NIL consideration? In the hope that his influence in government et al will drive the sp up to where he automatically gets handed a bunch of shares? Like 25m of them or something. They are his once the company gets to $1.00 by the look, so $25m. I'm confused.
Seems that's the price of doing business in Indonesia..!
Perhaps not so much a Dead Cat, but some certainty coming back to it's prospects. 20c back to 35c in 9 days.Wouldn't be surprised if there was a decent dead cat bounce that could have been traded..
yes sink the place or impose a quarantine around it. nothing good has come from it in recent memory. remember east timor....30yrs of terror.
b better when we have a few more yank millitary bases as long as australasia doesnt get screwed out of its antartic territories.
its just a transit route to rort australia, ie drugs, guns and economic 'refugees'.
i assume its greed that pushes risky ventures there like iau. hopefully west africa doesnt go down the same route.
Perhaps not so much a Dead Cat, but some certainty coming back to it's prospects. 20c back to 35c in 9 days.
Amazing that you have to hand over 5% of your company like this just to stay in the game.
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