Intrepid Mines Limited-Report to Shareholders: Statement of Claim
Published : December 11, 2012
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Keywords :   Australia | Canada | Indonesia | Market | Recovery | Report |

BRISBANE, AUSTRALIA--(Marketwire - Dec. 11, 2012) - Intrepid Mines Limited (News - Market indicators)(ASX:IAU) (the "Company") advises that the first writ of summon together with a statement of claim in respect of proceedings instituted in Indonesia by IndoAust Mining Limited, IndoAust Mining Pty Limited and Paul Michael Willis against the Company, has now finally been served at the Company's Jakarta representative office.

The lawsuit has also been instituted against the Company's wholly-owned subsidiary, Emperor Mines Pty Limited ("Emperor"), two Company executives and the Company's Indonesian joint venture partners, PT Indo Multi Niaga ("PT IMN"), Andreas Reza Nazaruddin ("Reza") and Maya Miranda Ambarsari ("Maya") (refer news release of 26 October 2012 in relation to media rumours). The lawsuit has been instituted in the South Jakarta District Court in Indonesia.

The plaintiffs are seeking compensation in the amount of A$2.5 million for alleged expenditure incurred in respect of the Tujuh Bukit project, an additional A$250 million for unspecified and unsubstantiated damages, and an order setting aside unspecified agreements allegedly deriving from the expiry and/or termination of the various agreements with the plaintiffs that give rights to Emperor over Tujuh Bukit.

Intrepid has met all of its obligations under the Alliance Agreement entered into with PT IMN, Maya and Reza, including funding beyond the original US$50 million expenditure commitment. Expenditure on the Tujuh Bukit project up to July 2012, when PT IMN suspended operations without reference to the Company, was approximately US$105 million.

The Company believes the action brought is totally without foundation and suffers from material legal deficiencies and will vigorously defend the action.

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.

Directors
Ian McMaster (Chairman)
Colin G. Jackson (Deputy Chairman)
Brad A. Gordon (Managing Director)
Laurence W. Curtis (Non-executive Director)
Robert J. McDonald (Non-executive Director)
Alan Roberts (Non-executive Director)
Adrianto Machribie (Non-executive Director)
Nyla Bacon (Company Secretary)
 
Stock Exchange Listing
ASX and TSX symbol: IAU
 
Substantial Shareholders
Taurus Funds Management 8.5%
Van Eck Associates 7.9%
Acorn Capital 7.4%
Surya Paloh 5.0%
 
Issued Capital
555,352,556 shares
8,941,961 unlisted options
4,645,104 unlisted share rights
51,208,032 unlisted restricted performance rights
 
Shareholder Enquiries
Matters related to shares held, change of address and tax file numbers should be directed to:
 
Computershare Investor Services
GPO Box 2975, Melbourne, Victoria
3001, Australia
Telephone: 1300 850 505 
  +61 3 9415 4000

ABN 11 060 156 452



Intrepid Mines Limited
Brad Gordon
Managing Director
Chief Executive Officer, Brisbane, Australia
(office) +61 7 3007 8000 or (mobile) +61 400 036 636
bgordon@intrepidmines.com
or
Intrepid Mines Limited
Greg Taylor
Investor Relations Toronto, Canada
(office) +1 905 337 7673 or (mobile) +1 416 605 5120
gtaylor@intrepidmines.com
www.intrepidmines.com
Data and Statistics for these countries : Australia | Canada | Indonesia | All
Gold and Silver Prices for these countries : Australia | Canada | Indonesia | All

Intrepid Mines Ltd.

EXPLORATION STAGE
CODE : IAU.TO
ISIN : AU000000IAU4
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Intrepid Mines is a gold and silver exploration company based in Canada.

Intrepid Mines holds various exploration projects in Ecuador and in Indonesia.

Its main exploration properties are TAVICHE in Mexico, TUJUH BUKIT and CANDRIAN in Indonesia and SHYRI in Ecuador.

Intrepid Mines is listed in Australia, in Canada and in United States of America. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.1 billions, € 951.2 millions).

Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.05, and its highest recent level on April 16, 2021 at CA$ 3.05.

Intrepid Mines has 556 609 984 shares outstanding.

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In the News and Medias of Intrepid Mines Ltd.
8/16/2013Responds to Article in The Australian Newspaper
Nominations of Intrepid Mines Ltd.
10/3/2013: Appointment of New Chief Executive Officer and Managing Di...
8/8/2013: Company Update and Resignation of CEO
9/4/2012Appoints Executive General Manager for Indonesia
8/17/2011Executive General Manager Exploration and New Business Resig...
2/21/2011Appointment-Company Secretary
Financials of Intrepid Mines Ltd.
10/29/2013Releases Activities Report for the Third Quarter
7/30/2013Releases Financial Report and Management Discussion & Analys...
2/24/2012: Release of Annual Financial Report and Management's Discus...
7/27/2011Releases Activities Report for the Second Quarter
4/28/2011Releases Activities Report for the First Quarter
2/28/2011Releases Financial Results for 2010
Project news of Intrepid Mines Ltd.
7/16/2012(Tujuh Bukit): Tujuh Bukit, Indonesia-Project Update
8/11/2011(Shyri): Shyri Project Ecuador
7/12/2011(Tujuh Bukit): Tujuh Bukit Indonesia-Exceptional Drill Intercept
5/30/2011(Candrian): New Gold-Copper Porphyry Discovery at Candrian Prospect
5/17/2011(Tujuh Bukit)Tujuh Bukit Indonesia Additional Forestry Permit Awarded
5/9/2011(Tujuh Bukit)Porphyry Copper-Gold Resource Increases to 990 Million Tonne...
4/20/2011(Tujuh Bukit)Heap Leach Operation on Oxide Resource Delivers Robust Preli...
2/2/2011(Tujuh Bukit)Oxide Project Update
3/5/2007RECEIVES FEASIBILITY STUDY ON CASPOSO GOLD - SILVER PROJECT,...
Corporate news of Intrepid Mines Ltd.
9/13/2013: Executive Chairman Temporary Remuneration Package
6/20/2013: Chairman's Address, Extraordinary General Meeting
5/23/2013: Letter to Shareholders
5/14/2013: Notice of Extraordinary General Meeting
5/8/2013: Annual General Meeting Results
4/23/2013: Shareholder Requisition for General Meeting
4/8/2013: Mailing to Shareholders
2/19/2013Letter to Shareholders
1/31/2013Releases Activities Report and Appendix 5B
12/11/2012-Report to Shareholders: Statement of Claim
11/9/2012Completes C$1 Million Private Placement in New Nadina Explor...
11/9/2012Completes C$1 Million Private Placement in New Nadina Explor...
10/22/2012: Board Duty Rotation
10/9/2012: Porphyry Resource Model Announcement
9/10/2012(Tujuh Bukit): Tujuh Bukit, Indonesia
8/16/2012: First Tranche of Share Placement to Surya Paloh Completed
8/7/2012(Tujuh Bukit)Provides Clarity on Tujuh Bukit Structure
7/31/2012: Share Placement to Surya Paloh
6/28/2012: Change to Joint Venture Partner Shareholding
6/28/2012Limited: Change to Joint Venture Partner Shareholding
5/9/2012: Annual General Meeting Results
4/30/2012: Release of Activities Report and Appendix 5B
4/5/2012: Proxy Form
3/20/2012: Divestment Regulations, Indonesia
3/8/2012: Indonesian Government Publishes Amendment to Mining Regula...
1/31/2012Releases Activities Report and Appendix 5B
1/20/2012(Tujuh Bukit): Tujuh Bukit Indonesia
12/7/2011: Tumpangpitu Porphyry Copper-Gold Resource Increases Over 7...
11/30/2011New Director-Indonesian National Adrianto Machribie
6/28/2011(Tujuh Bukit): Tujuh Bukit Indonesia
2/28/2007ANNOUNCES CONVERTIBLE FINANCING FOR PAULSENS MINE
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