News and Announcements
First Ore Sales Payment from 100% Owned Teal Gold Mine
- Published May 15, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Intermin Resources Limited (ASX: IRC) is pleased to announce receipt of the firstcash payment from Paddington Gold Pty Ltd for ore delivered from Intermin’s 100% owned Teal Gold Mine, located 11km north west of Kalgoorlie-Boulder in Western Australia.
KEY TAKEAWAYS:
- First haulage, sampling and processing of ore from TealGoldMine completed successfully
- Initial batch comprised 9,700t at an average mine predicted grade of 2.7g/t Au
- Initial payment of $0.5M received under the terms of the Ore Sale Agreement
- Second and third ore batches delivered with payments expected in May
- Ore mining continues and remedial work on the western wall slip completed
- Grade control drilling completed in the southern half of the pit for modelling ahead of ore mining scheduled for June
- Continuous ore delivery expected at 10 – 15,000 tonnes per week until completion in August
- Maximum cash drawdown reached with Teal Stage One now cash positive
Commenting on the first ore sales milestone, Intermin’s Managing Director, Mr Jon Price said:
“The Intermin team and our alliance partners, RM Contracting, are to be congratulated for their efforts that have culminated in the first ore delivery, goldproduction and cash flow from Teal.
“Intermin now enters an exciting period of continuous cash generation that will fund our aggressive exploration program and progress our growing production pipeline across projects at Goongarrie Lady, Teal and Anthill.”
Company Updates
Forget Startups: Why Magnetic Alliance is Betting on “Boring” Mid-Market Turnarounds
While Australia’s venture capital scene spent years chasing unprofitable tech startups and speculative high-growth plays, Mark Lim was quietly taking a radically different path. The Managing Partner of Magnetic Alliance Capital sees the nation’s richest investment opportunities hiding in plain sight: inside thousands of unglamorous, profitable, but operationally sluggish mid-market businesses. Speaking on Wholesale Investor’s […]
The asset class where the market has no vote
Litigation funding returns are decided in a courtroom, not a cycle. Knightsbridge’s Head of Capital is careful to call that a different risk rather than a lower one, and his answer to it is spread, not concentration. Most alternative assets still answer to something. Property answers to rates. Private credit answers to defaults. Even the […]
The listing fee vendors pay whether the house sells or not
Australia’s property portals collect more than $2 billion a year while national listings sit flat. An Australian-built AI platform is targeting the economics, not just the interface. An Australian vendor listing a home pays a vendor-paid advertising fee on top of agency commission. Rama Dwarapudi, Founder and Chief Executive Officer of RealSearch, puts a typical […]
Backed By Leading Investment Groups and Family Offices
