Sign up Australia
Proactive Investors - Run By Investors For Investors

Intermin Resources enters cash flow growth phase by producing gold from Teal

The Australian Dollar gold price continues to rise, boosting Teal's economics.
Intermin Resources enters cash flow growth phase by producing gold from Teal
Mining at Teal

Intermin Resources Ltd (ASX:IRC) is building up its cash balance from mining at the Teal Gold Mine, located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

Teal is on track to produce 15,000 to 16,000 ounces at all-in-cost in Australian Dollars of $1030 to $1090 per ounce, from third party mill processing.

This would generate net cash flow to Intermin of up to $8 million at $1600 an ounce gold price.

The metrics could be set to improve for Intermin, with Australian Dollar gold currently trading at $1650 an ounce.

Jon Price, managing director, commented:

"As Stage 1 at Teal continues to generate significant cash flow to the business, the company is in an exciting growth phase as we complete Feasibility Studies on the Goongarrie Lady gold project and further stages at Teal to expand the production pipeline.

"The company also expects ongoing drilling results from the self-funded 32,000 metre exploration program in coming months as we continue our resource expansion efforts and the search for the next WA Goldfields discovery."

Key financials

Intermin has completed the repayment of the $2.1 million capital investment.

Add to this the return of Intermin’s asset recovery charge of $2.15 million is expected during the September quarter 2017.

Cash and investments to date have risen to more than $6 million.

View full IRC profile View Profile

Intermin Resources Ltd Timeline

Related Articles

White-Cliff-Minerals-MD-Todd-Hibberd-presenting-Syd-Mar-2017-757.jpg
March 17 2017
Todd Hibberd brought gold, lithium and nickel to investors.
Tesla,_electric_car,_battery,_Lithium.png
March 23 2017
Having both lithium and graphite resources places Noram at a considerable advantage in the lithium-ion battery sector.
coal
January 11 2018
Tanzania, and the wider East African region, are acutely short of power

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© 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