Normal
Here's a press release they apparently released yesterday (I'm guessing this will be copied as an ASX announcement before the market opens on Monday):http://www.marketwire.com/press-release/intrepid-mines-exploration-activities-suspended-tsx-iau-1682248.htmIntrepid Mines-Exploration Activities SuspendedBRISBANE, AUSTRALIA--(Marketwire - July 20, 2012) - Intrepid Mines Limited ("Intrepid", the "Company") (TSX:IAU)(ASX:IAU) advises that its Indonesian joint venture partner, PT Indo Multi Niaga ("PT IMN"), without prior reference to Intrepid, has suspended operations at the Tujuh Bukit Project in East Java Indonesia beginning immediately. PT IMN has requested several members of senior management, including all expatriate employees seconded to PT IMN from Intrepid, to leave site and this has occurred.Intrepid is in compliance with, and has always been in compliance with, all of its obligations under the joint venture agreements in place and applicable law. 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.Project expenditure, solely funded by Intrepid to date, in compliance with the joint venture agreement, is US$95 million. This includes financing to the original shareholders of PT IMN to allow them to meet their 20% contribution commitments in excess of the initial full carry of A$50 million.Intrepid is attempting to establish discussions with both the new and original PT IMN shareholders (see Intrepid news release of 28 June 2012) regarding arrangements which would allow the resumption of drilling activity at the earliest opportunity.Intrepid's immediate objective is completion of technical studies which will demonstrate the financial viability to develop a world class mine for the benefit of shareholders and stakeholders - community, and local, provincial and central government, alike.
Here's a press release they apparently released yesterday (I'm guessing this will be copied as an ASX announcement before the market opens on Monday):
http://www.marketwire.com/press-release/intrepid-mines-exploration-activities-suspended-tsx-iau-1682248.htm
Intrepid Mines-Exploration Activities Suspended
BRISBANE, AUSTRALIA--(Marketwire - July 20, 2012) - Intrepid Mines Limited ("Intrepid", the "Company") (TSX:IAU)(ASX:IAU) advises that its Indonesian joint venture partner, PT Indo Multi Niaga ("PT IMN"), without prior reference to Intrepid, has suspended operations at the Tujuh Bukit Project in East Java Indonesia beginning immediately. PT IMN has requested several members of senior management, including all expatriate employees seconded to PT IMN from Intrepid, to leave site and this has occurred.
Intrepid is in compliance with, and has always been in compliance with, all of its obligations under the joint venture agreements in place and applicable law. 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.
Project expenditure, solely funded by Intrepid to date, in compliance with the joint venture agreement, is US$95 million. This includes financing to the original shareholders of PT IMN to allow them to meet their 20% contribution commitments in excess of the initial full carry of A$50 million.
Intrepid is attempting to establish discussions with both the new and original PT IMN shareholders (see Intrepid news release of 28 June 2012) regarding arrangements which would allow the resumption of drilling activity at the earliest opportunity.
Intrepid's immediate objective is completion of technical studies which will demonstrate the financial viability to develop a world class mine for the benefit of shareholders and stakeholders - community, and local, provincial and central government, alike.
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