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A1M - AIC MINES LIMITED


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Very interesting presentation by Brad Gordon at RBS Morgans in Brisbane today.

 

They certainly will not be losing any sleep if Vale don't commit by Dec 15. It would a positive actually because it would open up the possibility of a takeover down the track. Happy if Vale commit but also happy if they do not. Win/win.

 

Forestry approvals usually take approx 3 years. IAU's application has been in for two years.

 

Zone B resource to be released shortly. Currently have 2.5M ounces in zones A and C. Targetting 4M ounce resource including zone B. Zones D and E to be drilled early 2010.

 

Gold cap above copper porphry will produce circa 200,000 ounces of gold per annum. Very shallow deposit. Easy access. No need for joint venture partner on the gold cap.

 

Very bullish on tenement in Equador. Possible 5M+ resource. Geologist very excited about Equador.

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The focus is on mining the oxide cap and with the latest discovery in forest area already approved for mining, they could be up and running earlier than first thought. That new discovery is in ADDITION to the 200,000 ounces predicted per annum from the original oxide cap.

 

Brad is certainly not a salesman. He delivers a fairly bland presentation but that doesn't alter the fundamentals of what they have. The market cap is ridiculously small. He said a very good comparison was IRN's Tampakan project recently valued at $500M+ by the Chinese in their takeover offer.

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Flower,

As you may realise,I find your methods 'interesting' to say the least.

You state that purchased at 0.275. (green line).

IAU had previously closed above the 12 day SMA (red line). As that was your trigger,you should have bought the next day.Problem is, on that day the low was 0.28.The following day the low was was even higher.

So,how did you do it?

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16 December 2009: Intrepid Mines Limited (ASX & TSX: IAU) reports that an Inferred Resource of 0.69 million ounces gold

equivalent at a cut-off of 0.5 grams / tonne gold equivalent has been estimated for Zone B in the oxide and partial oxide zones

of the Tumpangpitu area of the Tujuh Bukit Project in Indonesia.

The resource has been estimated by Independent Consultants Hellman and Schofield Pty. Ltd. and reported in accordance

with the JORC Code. It is based on drill data from the 60 x 60 metre grid that covers an area of approximately 700 metres x

400 metres.

Zone B is one of 5 zones of known oxide and sulphide gold-silver mineralisation within the Tumpangpitu Prospect. The Zone

C resource was announced in July 2008 at 1.1 million ounce gold equivalent at a cut-off of 0.5 grams per tonne gold

equivalent. The Zone A resource was announced in December 2008 at 1.5 million ounce gold equivalent at a cut-off grade of

0.5 grams per tonne gold equivalent.

Together, Zones A, B and C Inferred Resource estimates contribute over two million ounces of gold and almost eighty million

ounces of silver (3.3 million ounces gold equivalent).

 

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Hi Arty

 

Yeah I hold this one ...looking good..do you agree with the volume analysis being valid(increasing over the past few weeks then dropping of last week just to catch it's breath) before hopefully going higher..?

 

Regards

 

Nick

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