positive news on iau by rbs morgan

Intrepid continues to impress
Brad Gordon did a short presentation which was well received. Keen interest post the talk at their booth by quite a few people. Obviously the key market shifter with IAU relates to:

1. Conversion of title into direct equity under the new (2009) mining legislation,
2. Conversion of Protection Forest zoning into Production Forest would permit open pit mining.

Both are somewhat out of their control in terms of timing, but given IAU?s cash and exploration success plus some interesting targets in Katak and Salangan, We would suspect that while they are waiting for news on these administrative issues they can add value and put extra value on the development option for the govt. Results of the preliminary feasibility study into the Oxide Gold-Silver study also due soon