Intrepid Mines sells Argentina gold project
Thursday, March 26 2009 - 08:26 AM WIB
Australian mining firm Intrepid Mines Limited announced on Thursday that it has agreed to sell its Casposo project in Argentina for US$22 million cash.
The purchaser, Troy Resources NL, has completed detailed technical, legal and corporate due diligence in respect of the project, it said.
Intrepid CEO, Brad Gordon, said the Casposo sale would allow the Company to focus its energies on its 80,000 ounce per annum Paulsens gold mine in Western Australia and provide additional financial flexibility in considering its options for developing the Tujuh Bukit gold-silver oxide resource in East Java, Indonesia, which is located directly above a significant but separate copper-gold sulphide mineralised zone. (alex