But having looked over IAU’s recent announcements there still seems to be a lot more to come…<\/p>\n
And pleasingly the new resources are in Java itself with good infrastructure and a trained work force and not some far off volcanic outcrop with a separatist political movement.<\/p>\n
It seems that\u00a0 others agree….. Below is the latest marketclub analysis for IAU…<\/a><\/p>\n UPDATE 20\/4\/2011<\/p>\n 20 April 2011: Intrepid Mines Limited (ASX,TSX: IAU) (the \u201cCompany\u201d) is pleased to announce the results of an independently prepared Preliminary Economic Assessment (\u201cPEA\u201d) for a potential heap leach, open pit gold mine on the oxide resource of the Tumpangpitu area of the Company\u2019s (80% interest) Tujuh Bukit Project in Indonesia. The PEA was prepared by Kappes Cassiday, of Reno, Nevada, based upon column leach and other metallurgical tests performed at their laboratory.<\/p>\n The heap leach PEA is based on the Company’s December 2010 resource estimate of the near surface oxide resource at Tujuh Bukit (see the Company\u2019s announcement of 14 December 2010) \u2013 which is separate from the far larger, underlying porphyry resources<\/em> <\/strong>– and produced a positive conceptual economic analysis for the project. Significantly, the PEA, based on conservative assumptions, demonstrated a life of project annual average production of 143,000 recovered ounces of gold for 9 years at a cash cost of US$376 per ounce, net of silver credits at US$16.50 per ounce. <\/strong>The project delivers a post-tax cumulative cashflow of US$445 million, an NPV (at a 10% discount rate) of US$180 million and an IRR of 31%, at a gold price of US$1,050 per ounce (Table 1). The production and financial numbers are reported on a project basis (Intrepid Mines Ltd holds an 80% economic interest in the project).<\/p>\n![\"iau-weloveyou\"](\"http:\/\/www.australian-gold.com\/blog\/wp-content\/uploads\/2011\/04\/iau-weloveyou-600x191.jpg\" "\\"iau-weloveyou\\"")
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