A fundamental choice for Critical Minerals development: "Fascism or radical democracy?"

The global demand for critical minerals like lithium and copper is surging, but how we attempt to quickly extract them, argues Katherine Teh , Executive Chairman of Spektrum Development , presents a fundamental choice: embrace authoritarian tactics that disregard communities or pursue transparent, consent-based development. In this pivotal moment, the stakes are high-ranging, from environmental destruction to lost economic potential. Which path should be chosen? Katherine Teh of Spektrum Development addressing the 2024 ACFID Conference WE ARE AT a crossroads in the energy transition. The gap between what the mining industry promises and what it delivers has been widening, creating not only delays but the potential for significant socio-economic and environmental risks. As the demand for critical minerals like copper, graphite, and lithium increases, we’re facing mounting challenges in securing these resources quickly enough to support the transition to renewable energy. The Problem...

Intrepid prepares for big dilution to attract help from Indonesian tycoon in battle for Tujuh Bukit

The Intrepid Mines saga continues with Surya Paloh, an Indonesian media tycoon and founder of the opposition Partai Nasional Demokrat, to the ‘rescue’. Bringing in big guns to a commercial dispute is sometimes useful in Indonesia … although, in this case, it would be equivalent to Rupert Murdoch accepting 5% (almost free carried) of a Chinese company to solve their ownership/permitting difficulties with an Australian iron ore company …

“Mr Paloh and his associates will be working closely with the company and assisting engagement with key Indonesian stakeholders, particularly in both central and local government. As a substantial shareholder in Intrepid, whose interests are now fully aligned with existing Intrepid shareholders, Mr Paloh is well-placed to assist in promoting the company's profile and business interests within Indonesia,” Intrepid stated.

The dual Australian/Canadian-listed company (TSX:IAU)(ASX:IAU) also announced it had agreed to place 27,680,017 ordinary shares, representing approximately 5% of the Company's expanded issued capital, to Paloh “for a nominal price, subject to provisional TSX approval being obtained.”

Additionally, the company will issue to Paloh, for no consideration, 25,604,016 Performance Rights to ordinary shares, which vest upon the daily volume-weighted average price of the company's shares equalling or exceeding A$1.00 for one full calendar month on the ASX and C$1.00 for one full calendar month on the TSX, and which lapse after one year should vesting not have occurred. This target would represent value uplift of over four times based on current market prices.

Intrepid has further agreed to issue an additional 25,604,016 Performance Rights to ordinary shares, subject to requisite TSX approvals being obtained. The Performance Rights vest upon the daily volume-weighted average price of the Company's shares equalling or exceeding A$1.20 for one full calendar month on the ASX and C$1.20 for one full calendar month on the TSX, and lapse after one year should vesting not have occurred. This target would represent value uplift of over five times based on current market prices.

Intrepid CEO, Brad Gordon, also announced the company’s “recent opening of a Representative Office in Jakarta”, indicating that the company had no legal entity in Indonesia until early 2012.