Barrie
20 Jan 2015
Minera IRL is up 10% on the TSX today.
Jitter
15 Jan 2015
Re: Share Price near bottom? Also bought my first tranche on Tuesday, thinking along the same lines as yourself HPC.
HPC Follower
15 Jan 2015
Re: Share Price near bottom? The drift is always down when something important is needed, progress is much slower than hoped/planned and there is no news...Having bought in through Hidefield (bought by MIRL) originally, I've averaged down significantly through a £600 purchase - not a lot in financial terms but this remains a very high risk business at present. A good project funding deal would make all the difference, plus, if the US dollar continues to strengthen, the value of gold in GBP terms will actually also be increasing.EU QE may start soon as well, given the court case decision in favour of the Central European Bank, which may increase the value of gold in Euros as well.
Tenobas
14 Jan 2015
Re: Share Price near bottom? Oil is a major input to gold mining:[link] I doubt that the correlation of oil prices to gold prices is a meaningful predictor because it is mostly a reflection of the fact that both have risen with long term inflation. If we are in the new era when recession is always met with QE then that should be very positive for gold.Secondly a weakening gold price will disproportionately help marginal producers.All this is very positive and yet the price keeps going down.Do some know something we do not?
Deftly
14 Jan 2015
Re: Share Price near bottom? Yes and no... It doesn't help that this is an unloved sector, and everything will depend on the terms of the financing. If the company can get this on board without too much dilution a steady long-term recovery on newsflow is very likely. It's a big if, though. I can't help thinking that much of this potential dilution has been factored in, although there still remains a worst-case scenario of no deal being reached and the price eroding further. My guess is that no deal is unlikely, but if I were a potential funder I'd be driving a hard bargain, so the upside for shareholders could be limited. Given the depth of the fall and the small downside, the best play at this level might be a buy on the September spread contract.
HPC Follower
13 Jan 2015
Share Price near bottom? Since we have all the permits needed for production and project finance negotiations are ongoing with a target for completion 1st quarter 2015, shouldn't the SP of MIRL be very close to the bottom point now?After all, the SP spent quite a few years in the 50 to 100p range until the last two years when a lot of progress has been made towards starting up what should be a very profitable mine with a 30 year life.If the project finance negotiations are going well, the SP should improve into the future even if production isn't due to commence until end 2016.
Barrie
05 Jan 2015
They are definitely in a closed period. You can call to confirm if you don't believe me. This is the rule when financing talks are going on.
Barrie
05 Jan 2015
Directors are not allowed to buy now. They're locked out because of advanced financing negotiations.
dotlink
02 Jan 2015
how much lower can the sp go down? with nav at negative and company not making profit and with gold price still going lower this year...
dotlink
02 Jan 2015
VGM in the making? its not making profit and is cash burning rio tinto will just buy it at current share price or lower
Barrie
02 Jan 2015
GLA - I do not think it means what you think it means.
dotlink
02 Jan 2015
with low gold price for many years to come i just can't see how mirl will make money if gold price stays around $1100 unless mirl reduce costs
Barrie
28 Dec 2014
Once financing is done, we'll have a rush into Minera IRL. But imagine where share price can go if gold price is rising at the same time!
Barrie
28 Dec 2014
I've been able to make money over the last year and a half in gold stocks even though the sector is such a mess. Minera IRL is at the top of my top 4 for big gains over the next few months. The other 3 are Temex Resources, Integra Gold, and Midway Gold.
JohnyCash
27 Dec 2014
Ollachea - Target Production Q4 2016 Minera eyes Ollachea production in Q4 2016StockMarketWire | Tue, 23rd December 2014 - 07:34 Minera IRL Limited said the Ollachea Gold Project has all the key permits in place to commence development. Project financing discussions are at an advanced stage and the company looks forward to bringing these discussions to conclusion in Q1 2015.At Sept. 30, Minera had a cash balance of $5.4m and, as stated Nov. 12, it has sufficient funds together with the expected cash flows from Corihuarmi to meet its cash requirements to the end of Q1 2015 by which time it expects to have project financing in place for its flagship Ollachea Gold Project."With project financing in place during the first quarter of 2015, the Company expects production to commence at Ollachea during the fourth quarter of 2016," the company said.
