OTCPK:IAUFF - Post by User
Post by
jcjohn36on Aug 16, 2012 10:50am
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Post# 20224407
I really hope management knows what it's doing!
I really hope management knows what it's doing! BRISBANE, AUSTRALIA--(Marketwire - Aug. 16, 2012) - Intrepid Mines Limited ("Intrepid", the "Company") (TSX:IAU.TO - News)(ASX:IAU.AX - News) reports the completion of the share issue and the first of two potential tranches of performance rights regarding the previously announced placement of 27,680,017 ordinary shares of the Company's expanded issued capital, to prominent Indonesian businessman, Surya Paloh ("Subscriber") (see Intrepid announcement of 1 August 2012).
Mr. Paloh and his associates are working closely with the Company and assisting with the engagement with key Indonesian stakeholders, particularly in both central and local government. As a substantial shareholder in Intrepid, whose interests are now fully aligned with existing Intrepid shareholders, Mr. Paloh is well-placed to assist in promoting the Company's profile and business interests within Indonesia.