Minera IRL Forum

If anyone hasn't seen the presentation done by the President Diego Benavides last week, you can google "colorado precious metals summit" and watch it. Two notable things: 1-They might not finalize financing until October, but that's still close; and 2-He said "Our geologist thinks (at Ollachea) we're really a 5 million oz project!!!!!! Holy major gold mine batman! We're only drawn to 1 million oz. Imagine if there really is 5 million oz there!!

At the Colorado presentation yesterday, the President, Diego said "we have a number of interesting proposals for financing". He also mentioned something about making the decision by October by I didn't catch his exact words.

They have not taken the 100 mil yet because they want to try to get the whole package from one place. Companies like Sandstorm and Silver Wheaton want to do a royalty or stream along with the loan so accepting the 100 mil could prevent them from getting the deal they want. MIRL has various options and they have committed to choosing one so that all financing is in place before the end of September.

Will hit or pass 18p next month after financing in my opinion.

You're right stew200! There's an easy 25% to be made in the short-term whenever people realize that selling Don Nicolas was a wise move, and there's probably 80% increase coming within the next 6 weeks when financing is announced.

I trade 15 different gold stocks and this one is on top of my radar. None of the others I have are as likely to double over the next 6 weeks regardless of price of gold. Once this is financed, which it will be soon, it's blue sky!

A royalty company like Sandstorm or Franco-Nevada is the most likely source of financing. There are others too. There's a lot of big money throughout the world right now ready to go into companies like this. Minera IRL just wants to make a good deal for the long-term. Remember that Macquarie bank has offered Minera IRL $70 million US but Minera IRL haven't accepted it yet. They are hoping to get the whole package together.

Minera IRL works even if price of gold stays low. That's part of the appeal of this one. The big catalyst is going to be financing for Ollachea coming by the end of September at the latest. A rising gold price should help but be a secondary factor with this stock.

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