Interesting valuation from RBS. Refer to below.Looks like...

Interesting valuation from RBS. Refer to below.Looks like interested investment parties are waiting for an updated agreeement of the Indonesian mining legislation 2010 which will calm the unrest/concern over the relationship between IAU and its indonesian partners. I have seen IAU valuation varies from $4 to $2.70 to $3.50. Anyone have any updates from Shaw brokerage?

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Intrepid Mines (IAU) - the share price
responded only weakly to the release of
an outstanding drill intersection of 689m
at 1.00% Copper and 0.85g/t Gold. Within
that is an interval of 466m @ 1.19% Cu
and 1.05g/t Au - and within that 244m @
1.42% Cu and 1.06g/t Au. The failure to
respond more dramatically is assumed
to be a function of market concern over
the stability of Intrepid’s relationship with
its Indonesian partners. The alliance
agreement has yet to be updated to
reflect changes to Indonesian mining
legislation signed into law in February
2010. In our view, an updated agreement
would confirm that this concern is
unfounded and see a major re-rating of
the share price. Our valuation is $2.70 per
share, based on our risked valuation of
Intrepid’s 80% interest in the Tujuh Bukit
gold-copper project in Java. With recent
drill results reported, we anticipate an
upgrade to the size of the Tumpangpitu
resource, increasing our valuation further.