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Business Description: Intrepid Mines Limited (IAU) is an international precious metals development and exploration company with primary operations in Indonesia. IAU currently focuses on its flagship project, Tujuh Bukit Project in Indonesia. IAU also has exploration properties located in Ecuador.
Strategy Analysis: The goal of IAU is to become a significant precious metals producer. The Paulsens mine was sold to Northen Star Resources Ltd in May 2010. Management will now focus on the copper/gold mine at Tujuh Bukit (in which IAU has an 80% interest). Initial estimates suggest an initial Inferred Resource of 500 million tonnes at 0.4% copper and 0.5 g/t gold, at a cut-off grade of 0.2% copper in the project.
Intrepid Mines reported negative cash flow of US$6.45m for the quarter ended 31 December 2012. Operating cash flow for the period was US$(4.87m). Payments for exploration and evaluation were US$(3.07m). Investing cash flow was US$(1.57m). Financing cash flow was US$(16,000). Cash in hand at the end of the quarter was US$108.91m.
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