The sale was effected by way of transfer of all the shares in Intrepid's wholly-owned subsidiary, Intrepid Minerals Corporation, to purchaser Troy Resources NL. US$20 million was paid by
Intrepid CEO, Brad Gordon, remarked: "The proceeds generated by this sale together with the current treasury position of US$19 million will be used to strengthen our operations at our 80,000 ounce per annum Paulsens gold mine in Western Australia, for further development of our Tujuh Bukit gold-silver oxide resource in East Java, Indonesia, which is located directly above a significant but separate copper-gold sulphide mineralised zone, whilst providing additional financial flexibility as we actively consider new opportunities to drive our near term corporate growth strategy."
The company’s address is