Kenj2
04 Jan 2017
Share suspension lifted in Peru [link] 4, 2017 - 09
7 ETLIMA, PERU--(Marketwired - Jan. 4, 2017) - Minera IRL Limited ("Minera IRL" or the "Company"
(BVLAC:MIRL), the Latin American gold mining Company, is pleased to announce that Peru's securities regulatory commission, the Superintendencia del Mercado de Valores, ("SMV" has lifted the suspension of trading of the Company's shares on the Peruvian stock market, the Bolsa de Valores de Lima. ("BVL".In an official resolution, the SMV stated that Minera IRL had provided all documentation and information required to allow a return to trading on the Bolsa de Valores de Lima, and hence declared that the suspension of trading on the BVL is no longer in effect."We are very happy to have complied with all the requirements of the SMV that will allow us to reinitiate trading once again on the BVL. We want to thank our shareholders for their patience and for their confidence. We will continue to work hard to deliver positive results for our shareholders and to add value to the company," said Diego Benavides, a founder of the company and a newly-appointed director and chief executive officer.SMV's resolution also confirmed the primary status of the listing of the Company's shares on BVL. It does so by recognizing that the shares of the Company are considered "domestic" securities for the purpose of the Peruvian Securities legislation, which means that the Company is subject to Peruvian legislation on companies whose shares are listed on the BVL, including regulations for the submission of information, public tender offers and exempt takeover bids, which legislation prevails over any other provision regulating issuers of securities incorporated outside of Peru.The Company also has submitted all requested documents for revocation of the cease trade order from the Ontario Securities Commission ("OSC" and is awaiting word from the OSC on its application; which if granted would pave the way for the Company to make final application for listing on the Canadian Securities Exchange ("CSE". The Company also is considering contracting a financial advisor ("NOMAD" as part of the first steps to a possible relisting in London.The Company has US$ 6.8 million in available cash and remains committed to improving efficiencies and lowering cost.The Company is focusing on bringing on-stream its flagship Ollachea gold mine, located in the Puno region in southern Peru. A drilling program of approximately 5,200 meters has been completed in the Minapampa Far East zone. Modeling and additional metallurgical tests are expected to be available by mid-first quarter of 2017.The pre-engineering studies for the Ollachea project are underway following the efforts to optimize the cost of the CAPEX. The report is expected in the first quarter of 2017, and the results will allow the company to proceed with its initial step to agree on a Feed / EPC/ Operation contract with a first-class construction company.The company has reduced the amount of government-mandated financial guarantees for its Ollachea project mine closure plan. The Company has a mandate with Peruvian government Bank COFIDE (Corporación Financiera de Desarrollo) to structure a syndicated senior loan for US$240 million.As part of its continuing social responsibility programs, Minera IRL has been hosting annual Christmas functions in the communities related to its projects for twelve straight years. The Christmas festivities in 2016 drew more than 2,500 needy children and community members from the area of influence for the Ollachea Project.The Company's Corihuarmi gold mine in central Peru has to date drilled approximately 50% of an exploration drilling program of 3,062 meters. Total 2016 production to the end of December from Corihuarmi was 23,448.85 ounces and total sales were worth US$26.77 million."
Kenj2
05 Dec 2016
View by Laurieongold An interesting article posted by Ssifuentes on LSE board.[link]
Kenj2
05 Dec 2016
New Board Minera IRL Announces Board Appointments and Management ChangesDec 5, 2016 - 090 ETLIMA, PERU--(Marketwired - Dec. 5, 2016) - Minera IRL Limited ("Minera IRL" or the "Company" (BVLAC:MIRL), the Latin American gold mining Company, is pleased to announce the appointment of :Mr Diego Benavides as Director and Chief Executive Officer, Mr Michael Iannacone as Independent Director, Mr Gerardo Perez as Independent Chairman and Mr Carlos Ruiz de Castilla as Chief Financial Officer, effective December 5th, 2016.For full details click on link below:[link]
templepunk
02 Dec 2016
Re: AGM Result Many thanks for the updates & interpretation of the moves afoot . I'm hoping against hope this will find it's way back onto AIM eventually. Hopefully this is a step in the right direction.
Kenj2
01 Dec 2016
Re: AGM Result A GREAT result at long last!The lowly number of votes cast (75,919,070 representing 32.8% of the Company's outstanding ordinary shares), suggest that Rio Tinto did not vote. Their 44,126,780 votes could easily saved all the directors, but not even (ex-Rio Tinto) Julian Bavin survived the cull. Only Gerardo Perez was spared following IKN's late endorsement. It was Rio Tinto's interference that saved Jones & Fryer at the previous EGM, and caused this mess, so a wise decision from them to abstain this time.Now Mr Perez has the job of appointing a new board. Let's hope he, like Rio Tinto, has learned a few lessons and chooses wisely. A good start would be to re-appoint Diego Benavides to gain local Peruvian support. Another suggestion would be to re-appoint the short lived Jorge Ramos, CEO of Cofide, who resigned after less than a week of trying to work with Jones, Fryer and Bavin. Lastly, perhaps re-appoint ex CFO Brad Boland. He has knowledge of the company, and had he integrity to walk out rather than work with dross like Jamie Pinto, Jones and Fryer. Who knows, perhaps SP Angel could now fill our long wait for a NOMAD?
Kenj2
01 Dec 2016
AGM Result November 30, 2016 22:52 ETMinera IRL Limited Announces AGM ResultsLIMA, PERU--(Marketwired - Nov. 30, 2016) - Minera IRL Ltd (BVLAC:MIRL) (the "Company" announces the results of the Annual General Meeting of Shareholders held on November 30, 2016 in Vancouver, Canada (the "AGM".The Company put forward nine (9) resolutions to be voted on by shareholders at the AGM. The resolutions were outlined in the Management Information Circular dated 25 October 2016 that were posted to shareholders and is available on the Company's website at www.minera-irl.com.A brief description of the matters voted upon and the voting results of the AGM are provided in "Appendix A - Meeting Results" at the end of this press release. The total number of ordinary shares represented by shareholders present in person or by proxy at the Meeting was 75,919,070 representing 32.8% of the Company's outstanding ordinary shares.Board of DirectorsPursuant to the articles of association of the Company (the "Articles", each of the five directors of the Company in office prior to the AGM were proposed for election/re-election at the AGM.Prior to the AGM, each of Mr Julian Bavin, Mr Derrick Weyrauch and Mr Robert Schafer withdrew their consent to stand for election/re-election and as such the resolutions relating to such directors were not put to the AGM. Accordingly, each of Mr Bavin, Mr Weyrauch and Mr Schafer are no longer directors of the Company.The resolutions to elect/re-elect each of Mr Francis O Kelly and Mr Gerardo Perez were put to the AGM.The resolution to elect Mr O Kelly was not passed and as such Mr O Kelly is no longer a director of the Company.The resolution to elect Mr Perez was passed and as such Mr Perez remains the sole director of the Company.Pursuant to the Articles, Mr Perez has authority to appoint further directors. The minimum number of directors with which the board can make substantive decisions is three, so Mr Perez intends to appoint an additional two or more directors as soon as practicable.Other resolutionsThe resolutions to accept the financial statements of the Company for the year ended December 31, 2015 and to appoint PKF Littlejohn LLP to be the auditor of the Company for next year were passed.The resolutions to adopt new articles of association and granting the directors the authority to allot up to 115,567,514 ordinary shares without the application of the Company's pre-emptive rights described in Article 6.1 of the Articles did not pass, and will not be put into effect.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Kenj2
30 Nov 2016
Re: AGM to be postponed? Well it's past 3pm in Vancouver Canada. The AGM was scheduled to start at 10am.So more than 5 hours after the AGM was to start, there is still no news, not even from IKN.Looks like more funny business to me. The board of MIRL again seem adverse to counting votes.
Kenj2
28 Nov 2016
AGM to be postponed? More news from IKN."The board of directors of Minera IRL are meeting tomorrow Monday to decide whether to postpone the AGM. If they do, they will have a maximum of two weeks to re-schedule (it must take place within one calendar year of the last AGM or EGM and if memory serves, that is December 14th latest date). If they decide to postpone it means only one thing, that they know they’re losing the AGM vote and will desperately try to save their hides with some sort of Hail Mary play in the two extra weeks, potentially releasing the now overdue drilling results from Ollachea and spin-marketing with those, potentially trying to convince Rio Tinto to vote actively, potentially attacking yours truly personally. Maybe even because they want to get an extra month’s salary and find reasons to draw a few extra fat consultancy fees before getting booted out. So at this point I recognize that there’s a chance that the AGM is delayed for a couple of weeks, we’ll find out tomorrow. If it happens, just add it onto the pile of self-serving and corporately expensive decisions this board has made, but it would also be the strongest signal possible that they are losing and we are winning."[link]
Kenj2
11 Nov 2016
New info on IKN Two new articles on IKN today about MIRL. The first one is posted below[link] an interesting afternoon meeting with Peruvian shareholders of Minera IRL (who control many millions of shares) it has become crystal clear to your author that the current directors of Minera IRL, led by arriviste Derrick Weyrauch, is trying to steal the company and its assets away from the shareholders in much the very same way that the scumbag Team Hodges attempted to do last year.The method they're using is to try and push through some draconian changes to the company in the hastily convened AGM set for November 30th, which is set to do the following:Remove the company permanently from the London Stock Exchange.Remove the company permanently from the Lima Stock Exchange (contrary to their current corporate position).Give the board of directors, a group of people with virtually zero shares in the company, the right to allocate up to 115m shares to whoever they want and at any price they want without getting any further permission from their shareholders.Sell a massive part of the company's assets to their preferred friends at a near-criminal discount the true value of the company, all to the detriment of current shareholders.The group of Peruvian shareholders with whom I spoke today are up in arms about the way in which the directors of IRL, led by Weyrauch and the George Bee asset strippers and in cahoots with Rio Tinto, are trying to steal the company all over again. On hearing their case and reading through the 2016 Management Information Circular carefully this evening after meeting with the group of concerned shareholders, I am forced to agree. The Peru shareholders have decided to vote en masse against the current board on November 30th and in order to stop this legalized asset rape, they need everyone in The UK and Canada to know what's going on.Expect more on the subject."
MINTYMURRAY
10 Aug 2016
Re: PREVIOUS SHARE HOLDINGS Thank you Kenj2 I live in hope then
Kenj2
09 Aug 2016
Re: PREVIOUS SHARE HOLDINGS Hi Mintymurray,You have certainly not lost your money while the company is still trading. The problem is that MIRL delisted from AIM, followed by the the Canadian and Bolivian stock exchanges. This means that it impossible to trade your shares anywhere, so they are effectively in limbo.As and when MIRL re-lists (probably on a Canadian exchange) it will become possible to trade your shares. However, many UK brokers do not offer trading on the Canadian exchanges, so you may need to open an account with a broker who does to trade MIRL's Canadian quoted shares.While this may be fiddly and messy, it is much better than writing off your investment, which looked very likely until about a month ago.
MINTYMURRAY
09 Aug 2016
PREVIOUS SHARE HOLDINGS Does anyone know if our shares from the AIM before they were suspended will they be worth anything?. Or have we lost our money
Kempseyman
08 Aug 2016
Back in business and Cofide deal MINERA IRL ANNOUNCE RESUMPTION OF DRILLING AT THE OLLACHEAFLAGSHIP GOLD PROJECTLIMA, PERU--(Marketwired - August 8th, 2016) - Minera IRL Limited ("Minera IRL" orthe "Company" (BVL: MIRL) is pleased to announce the resumption of drilling at theOllachea flagship gold project in Puno, Southern Peru.The program contemplates 5,230 mts of diamond drilling consisting of 23 holes drilledfrom 6 platforms from within the Ollachea tunnel. The target is the down-dip plunge ofthe mineralization to the east of the Minapampa ore body. In 2013, three holes drilled offthe tunnel intercepted mineralization at grades generally superior to those encountered inmain ore body.DDH13-T01 20 mts grading 4.48 g/t AuDDH13-T03 11 mts grading 5.47 g/t AuDDH13-T04 9 mts grading 5.45 g/t AuThe drilling program is a condition precedent to access the second tranche of the US $240million debt facility provided by Corporación Financiera de Desarrollo S.A. (“Cofide” forthe design, construction and commissioning of the mine. Other key milestones arecompletion of the optimization studies for the mine extraction rate and metallurgicalprocess and flow-sheet. Both studies are focused on reducing the capital withoutprejudicing the targeted annual production of 100,000 oz. Au.Mr. Francis O’Kelly, Chairman of Minera IRL commented, “I am pleased to reportrecommencement of field activity at the mine site after a hiatus of almost one year due tocircumstances that caused the temporary withdrawal of Community support for theproject. I am particularly gratified that the concerns of the Ollachea community have beensuccessfully addressed and that the Company can now look forward to advancing theproject in a cooperative spirit”The drilling program has duration of 90 days. Assay results will be released periodicallyduring the course of the project
Kenj2
17 Jun 2016
Jones & Fryer resign [link] long last some really good news!I had little faith in MIRL recovering with the two Hodge's stooges running things, so I am delighted that they have finally gone. Perhaps we can now find a NOMAD who is not too frightened or ashamed to represent us.So now this stock might at last be regarded as a BUY, if it were not still suspended.It may still take a while before MIRL is re-listed, but instead of a faint possibility, it now looks like a strong probability.
zombynation
10 Jun 2016
Chairman letter Exceptional read. Funding potentially still in place, management changes and improvements and even the possibility of AIM relisting... Gold up 240poinys since suspension....current operations exceeding targets... Looks like this is in for a major re rating upon trading again
