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Intrepid avoids the rumour mill

19th August 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Dual-listed Intrepid Mines has downplayed its interest in junior Finders Resources, saying that negotiations have not reached a stage where an announcement to the market was “appropriate”.

Finders last week rejected a move by shareholder Taurus Fund Management to remove all the independent directors of its board and appoint Taurus representative Gordon Galt.

In July, Finders fought off a similar change of control, at the time expressing concern over Taurus’ position as the largest shareholder of Intrepid Mines, which, Finders said, was seeking access to the company’s data room.

Earlier this month, Intrepid announced that it was actively pursuing new investment opportunities, and the miner said on Monday that it has, and would sign confidentiality agreements with interested parties.

Intrepid’s main asset is its shareholding in the Tujuh Bukit copper/gold project, in Indonesia, from which it was evicted last year by PT Indo Multi Niaga and its successor company PT Bumi Sukses Indo.

The ASX- and TSX-listed company has been trying to regain access to the site.

Edited by Creamer Media Reporter

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