From the latest presentation on the IAU website....
http://www.intrepidmines.com/uploads/file/2%2020120213%20Intrepid%20Mines.pdf
The Indonesian Ministry of Energy and Mineral Resources has confirmed that the two IUPs held by PT IMN in respect of the Tujuh Bukit project have been reviewed and are considered “clean and clear”.
Intrepid has an 80% economic interest in the Tujuh Bukit IUPs, derived through contractual arrangements with PT IMN.
The Company is working with PT IMN to finalise a shareholders’ agreement to allow Intrepid to acquire an 80% direct equity interest in PT IMN.
The Commercial terms upon which Intrepid will acquire its Direct Equity stakehave been agreed.
Well Done Bradley Gordon and team!
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