Sign up Australia
Proactive Investors - Run By Investors For Investors
Market: ASX:IRC
52-week High/Low: A$0.31 / A$0.09
Sector: Mining
Market Cap: A$48.80M
Intermin Resources Ltd

Intermin Resources Ltd

Intermin Resources Ltd (ASX:IRC) is an exploration and development company focussed on Australian resource projects.

Intermin Resources Ltd

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Intermin Resources Ltd

Intermin Resources Ltd Snapshot

Intermin Resources Limited has been listed on the Australian Stock Exchange for over 20 years and is an exploration and development company focussed on Australian resource projects. The overarching goal of the Company is to increase shareholder value through the application of modern exploration and advancement of its resource projects through to development. In addition, the Company actively reviews value accretive growth opportunities to augment the asset portfolio.

The most advanced asset is the 100% owned Teal Gold Deposit located 11km north west of Kalgoorlie in Western Australia. The Teal Deposit has the potential to grow substantially with targeted drilling along strike and at depth.

(click here for more information)

Teal – Au

The project is located on granted Mining Lease 26/499, ~11km northwest of Kalgoorlie in Western Australia and it is ideally situated to make use of a ready workforce, existing transport and toll milling infrastructure available in Kalgoorlie.

Technical activities and mining approvals required for mining an oxide only open pit resource at Teal are complete and Intermin is focused on developing a commercial financing strategy.

Management are progressing financing discussions to advance mining activities at Teal and is also considering expanded exploration, development and processing strategies that have the potential to increase the size of the project.

The Teal JORC Compliant Indicated Mineral Resource Estimate is currently at 1.44Mt @ 2.25g/t Au (uncut) and 1.44Mt @ 1.98g/t Au (20g/t Au cut) for a total of approximately 104,000 ounces of gold based on uncut grade or 92,000 ounces based on the 20g upper cut. The deposit is open at depth and down plunge towards the Peyes Farm Deposit which is an unmined historic resource of ~ 40,000oz.

(click here for more information on this project)

Janet Ivy Royalty – Au

JANET IVY GOLD ROYALTY ($0.50/t of ore mined and treated)

In 2001, Intermin entered into a Deed for the Sale of the Janet Ivy Gold Project which includes Mining Lease M26/446. Through a number of ownership changes is now part Norton Gold Fields Limited (ASX: NGF) (“Norton”) and forms part of their Binduli Gold Project. Norton was delisted from the ASX on 1 July 2015 and is 100% privately owned.

The project is located approximately 10km west of Kalgoorlie and the Royalty Tenement (M26/446) is located directly along strike from Intermin’s Binduli North JV with Evolution Mining Limited.

(click here for more information on this project)

Binduli North – Au

Immediately adjacent to the Teal Gold Project is the Binduli Gold Project which is subject to an Earn-In Joint Venture Agreement with Evolution Mining Limited (ASX; EVN). Evolution are the managers of the project and are sole funding to earn 70% over 5 years from a $4.6m expenditure commitment.

The Binduli Gold Project comprises a 98.8 km2 tenement package located (5–20kms) west of Kalgoorlie and is adjacent to the Frogs Leg underground and the White Foil open pit gold mines operated by Evolution.

(click here for more information on this project)

Menzies – Au

The Menzies Gold Project is located on the Kalgoorlie-Leonora Highway 130km north of Kalgoorlie and small scale gold mining has occurred intermittently since discovery in 1893. Past gold production from the project has been approximately 800,000 ounces at 22g/t Au.

Intermin has an 100% interest in six granted Mining Leases covering (2,988 hectares), eleven Prospecting Licences (1,807 hectares), one Exploration Licence (310 Hectares) and three Miscellaneous Licences (0.27 hectares) covering a total of 5,105 hectares. Intermin also owns a 70% interest in granted Mining Lease 29/184 which covers the area to the immediate east of the former Yundaga Mining Centre.

(click here for more information on projects)

Last updated 5th February 2016.

Peter Hunt
Non Executive Chairman

Mr. Peter Hayden Hunt, FCA, is the Non-Executive Chairman of Intermin Resources Ltd. He has served as a Non-Executive Director of Intermin Resources Ltd for 20 years and is a member of the Institute of Chartered Accountants in Australia and an experienced Company Director. He is currently Partner of PKF Adelaide, Chartered Accountants. He is the Chairman of Company’s Audit Committee. He is currently on the board of Metaliko Resources Ltd (appointed June 2012) and UXA Resources Limited (appointed 26 August 2014).

Jon Price
Managing Director

Mr Price has over 25 years’ experience in Australia and overseas across all aspects of the industry including exploration, development, construction and mining operations in the gold and advanced minerals sectors. Jon graduated as a metallurgist and holds a Masters in Mineral Economics from the Western Australian School of Mines. He then worked in various gold and advanced mineral operations including general manager of the Paddington gold and St Ives gold operations in the Western Australian goldfields.

More recently, Jon was the founding Managing Director of Phoenix Gold Ltd, currently being acquired by Evolution Mining Ltd. During his tenure, Jon oversaw the reconsolidation of underexplored tenure in the Western Australian goldfields and realised significant exploration success. Jon is a member of AusIMM and the AICD.

Michael Ruane
Non Executive Director

Dr Ruane holds a PhD in Chemistry and has over 30 years’ experience as a Technical Consultant in the chemical and metallurgical fields. Dr Ruane is currently an Executive Director of Metaliko Resources Limited since 28 June 2012, he is also a Director of Reward Minerals Limited and Heartlink Limited.

Robin Dean
Non Executive Director

Mr Dean holds a Bachelor of Economics degree from the University of Western Australia and has had over 30 years’ experience in banking and project finance including five years as Head of Project Finance and Resource Banking at Bankwest. Since 1997, Mr Dean has acted as a financial adviser/consultant on IPO’s, acquisitions and mergers. Mr Dean has been a Non Executive Director of Metaliko Resources Limited since 8 October 2012.

Bianca Taveira
Company Secretary

Ms Taveira has been the Company Secretary of Intermin Resources Ltd since 15 February 2010. Ms Taveira has been providing administration and secretarial services to many listed and unlisted public companies for over 15 years.

Last updated 5th February 2016.

Head Office
+61 (0)8 9386 9534+61 (0)8 9386 9534

+61 (0)8 9386 9473+61 (0)8 9386 9473

[email protected]

PO Box 1104
Nedlands WA 6909

Street Address
159 Stirling Highway
Nedlands WA 6009

Corporate Development Manager

Lorry Hughes BSc (Geology) MAusIMM

0400 038 4390400 038 439

[email protected]

Last updated 5th February 2016.

Intermin Resources Ltd Timeline

Video RSS



© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use