loadsamonay
08 Jun 2016
Re: Some good news - at last! omg - is this going to rise from the ashes? They always had great assets, and a great leader, but obviously a lot of dodgy people involved and in-fighting. Will be gutted if it comes good, but doesn't restore the AIM listing.
Kenj2
07 Jun 2016
Some good news - at last! MINERA IRL LIMITED UPDATES RECENT CORPORATE DEVELOPMENTSLIMA, PERU -(Marketwired –June 1st 2016) -Minera IRL Limited ("Minera IRL" or the "Company"
(BVL: MIRL) announces that the principal stipulations of the Memorandum of Understanding (MOU) published on February 5th 2016 have been complied with by the parties involved. In practice this means that the critical internal legal suits and the relevant counter suits have been withdrawn, and minority shares transferred to a mutually respected third party have unified the Company and its Subsidiaries into a consolidated corporate entity.The findings of the forensic investigations of whistle blower accusations by Baker Tilly (Peru) delivered on May 24thdisclosed there was no credible evidence of wrong doing or criminal misconduct by Mr. Diego Benavides or other members of the management team. Accordingly his authority to manage the affairs of the Company in Peru has been fully reinstated.The report, which was a key issue for the Company's auditors, was accepted and the 2015 audited financial statements have now been approved and are in the process of being filed with the Regulators. This, together with some statutory compliance documentation is the final step leading to a petition to the Ontario Exchange Commission ("OSC" for lifting of the "cease trading" order.Concurrently the Company is coordinating with the Peruvian Superintendency of the Securities Market ("SMV" to comply with the requirements, which includes the lifting of Cease Trade Order given by OSC, to commence trading at the Lima Stock Market ("BVL" The Company is also applying to restore the full listing on the Toronto Ventures Exchange (TVX), and is weighing the possibility to also regain the London AIM listing.In other developments the Company is awaiting the results of mining rate simulations to determine the optimum rate of extraction from the Ollachea Gold Mine. The findings will be incorporated in a revised 43-101 report. Meanwhile the Company has received an expression of interest from one of Peru's largest construction to execute an EPC fixed price construction and mine development contract with performance guarantees.A drilling program to prove up additional resources in the Minapampa Este extension will commence shortly...On the basis of the report grades of the three holes already drilled into that mineralized zone, it is anticipated that the resource inventory will be further enhanced.Francis O'KellyChairman[link]
Kenj2
29 May 2016
Re: What does this mean for aim shareholders It is certainly an improvement Zombynation, but progress is still painfully slow.They still have not managed to appoint a NOMAD, and both the CEO and CFO are interim (temporary) appointments. The news on re-listing is vague at best, and no time frame has been suggested.Like you, I would like to see news that the COFIDE loan has been confirmed. However, the fact that Mr Ramos, who is CEO of COFIDE, resigned from MIRL's board less than a week after being appointed to it, is not a positive omen. So the loan is certainly not a given.All we can do is sit and wait, as we cannot sell out even if we wanted to.
zombynation
26 May 2016
What does this mean for aim shareholders Sound promising doesn't it? All they need now is the confide loan then boom
Kenj2
24 May 2016
Director appointments [link] IRL Reports the Transfer of Shares in its Peruvian Subsidiaries, and Announces Board and Management ChangesMay 23, 2016 - 09:30 ETLIMA, PERU--(Marketwired - May 23, 2016) - Minera IRL Limited ("Minera IRL" or the "Company" (BVLAC:MIRL) reports that the one share in each of its two Peruvian subsidiaries, Minera IRL S.A. and Minera Kuri Kullu S.A., which were not registered in the name of the Company, have been transferred into the name of a nominee of the Company, thereby consolidating control over the two subsidiaries with immediate effect.As a result, the boards of the two subsidiaries will be reconstituted as follows
iego BenavidesCecilia GonzalesFrancis O'KellyMr. Benavides is General Manager of Minera IRL S.A., Ms. Gonzales is a corporate lawyer in practice in Lima, Peru and Mr. O'Kelly is a Director of the company,The Company is also pleased to announce the appointment of Mr. Gerardo Perez Delgado as a Non-Executive Director of the Company with immediate effect.Mr. Perez is a lawyer and a partner in the firm of Barrios Fuentes in Lima, Peru. His areas of expertise include Administrative Law, Regulation, Infrastructure and Concessions. Previously he was General Manager of the National Port Authority of Peru for six years where he was responsible for the planning, organization, direction, control and management of the institution in charge of the Peruvian Port System. He was involved in the concession of the Ports of Callao, Paita, Yurimaguas among others, and of the deepening and widening of the entrance to the port of Callao project, the implementation of the Single Window Port (VUP) by which the formalities concerning the export and import of goods through the ports is simplified, and overall planning and execution of actions to achieve the competitiveness of Peruvian ports.In addition, Minera IRL announces that Mr. Francis O'Kelly has been appointed as Chairman and Interim Chief Executive Officer of the Company and Mr. Carlos Ruiz de Castilla has been appointed Interim Chief Financial Officer.
Kenj2
24 May 2016
Update on re-listing [link] IRL Limited Reports it Will Maintain Its Listing on Lima Stock ExchangeMay 4, 2016 - 09:30 ETLIMA, PERU--(Marketwired - May 4, 2016) - Minera IRL Limited ("Minera IRL", or the "Company" (BVLAC:MIRL) wishes to inform shareholders that the Company has communicated to the Peruvian Securities and Exchange Regulatory Authority ("SMV" in connection with its listing on the Lima Stock Exchange ("BVL" or the "Exchange" that it has elected to maintain its listing on the BVL. In accordance with Article 37 of the SMV listing regulations, the Company had thirty (30) days following the communication of its decision to delist from AIM, to delist from the BVL or maintain the listing as a primary listing on the Exchange. The Company has elected to maintain the listing as a primary listing effective April 29th, 2016.The Company is currently subject to a Cease Trade Order ("the Order') issued by the Ontario Securities Commission ("OSC" on October 30th, 2015 as a result of the company's failure to file its June 30, 2015 financial statements. The Order also caused the suspension of trading of the shares of the Company on the BVL. From inquires made on a non-formal basis with the SMV, the Company acknowledges that trading of the Company's shares on the BVL will not be permitted until the OSC rescinds the Order. The Company released its June 30, 2015 financial statements on March 30, 2016 and is in the process of applying to the OSC to rescind the Order. Once this process is complete, and other conditions have been met, the Company intends to apply for a new primary listing in Canada.
JohnyCash
24 May 2016
Re: test .
JohnyCash
24 May 2016
test
JohnyCash
14 Mar 2016
Re: Anything happening "The board had been in discussion with several Nominated Advisers, however it has been determined that it may not be practical to appoint a replacement Nominated Adviser by 22 March 2016, in which case the Company's admission to AIM will be cancelled with effect from 7
0 am on 22 March 2016.[link] see no reason to change my mind.......JC
HPC Follower
08 Feb 2016
Re: Anything happening Yes... given the RNS on 5/2/16 there is clearly work ongoing with some signs of progress.Nevertheless, since the shares are suspended we PIs have no choice but to see how this pans out. If they can get the accounts sorted, the "one share" in the hands of an independent lawyer and a new NOMAD then MIRL will have a future and Rio Tinto should then get paid.This is doable... good luck to all holding here, especially since the price of gold is creeping up again.
MINTYMURRAY
22 Jan 2016
Anything happening Does anyone have any news on this share.Are they suspended ?Have we lost our money?That will teach me not to take any notice of Money Weekly as they tipped this last year.
The Preston Plumber
30 Dec 2015
New Year Prospects Dear Ken and ZombyI honestly think that you have been barking up the wrong tree.The new board are our best chance of retaining any value in the company.You can rely on the decisions of the large shareholders like Rio Tinto to protect our share value as well as their own.I wish you a prosperous New Year especially as far as Minera are concerned.
Kenj2
23 Dec 2015
Ramos Resigns RNS:"Minera IRL the Company has been informed that Mr Jorge Luis Ramos Felicies has resigned as a director of the Company with immediate effect."The resignation of Jorges Ramos who is the CEO of COFIDE looks very like the resignation in October of the CFO Brad Boland. They have both jumped ship having seen where it is steering, and knowing they were powerless to turn it around. Or in less flowery language - they quit as they do not want to be associated with what looks like blatant corruption and fraud.So Team Hodges cronies Jones and Fryer now control the board, with only one other member Julian Bavin ex Rio Tinto (whose dubious EGM voting tactics got us into this mess). Meanwhile another Team Hodges crony Jamie Pinto has POA, giving him absolute control over Minera's assets. How soon victory turns into defeat!Is the Hodges bandwagon now unstoppable?
Kenj2
21 Dec 2015
Re: Who has the deciding vote? With two Team Hodges directors and two Team Benavides directors, this was always likely.[link] The new board shows its reluctance to change matters We could go round the houses on this, but to cut to the chase Power of Attorney (POA) was awarded to Jaime Pinto and (IRL Ltd controller) Carlos Yrigoyen by the old board of directors so that Pinto (in particular) could act on behalf of the board. Sidebar: Power of Attorney (3): A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. It gives him the power to do what he wants, when he wants, with the IRL assets. The idea behind the POA was related to the gaining of control of the subsidiary, Minera IRL SA, because the IRL Ltd (Team Hodges) people want to transfer all assets out of the subsidiary and into the mother ship company and from there, they can do what they want with them. Now that’s fair enough you might say and if you believe the Team Hodges people they were only going to do that to clean up the structure and take the assets away from an overly powerful and quasi-independent subsidiary that was up to no good. However, that argument suddenly unravels when you realize that the new board of directors has not revoked the POA to Jaime Pinto. It also gets a different light when you consider the way Pinto really operates (see below for more on that). Yes folks, that’s right: Under any normal change of board, the first thing that would happen is that powerful legal devices such as POA would be taken away from an outgoing board member immediately. But in the crazy world of IRL and because of the obstinacy of the two Team Hodges people left on the board of directors, Jones and Fryer, the person that you voted out by a tally of 92% to 8%, Jaime Pinto, still has full control over the assets of Minera IRL Ltd."
Kenj2
18 Dec 2015
Re: New Board "Hopefully the new board will be able to sort out the mess that Benavides has created"Ha Ha very funny Preston Plumber.Almost 92% voted to kick Daryl Hodges out at the AGM, and a reported 92% voted to kick his stooge Jamie Pinto out at the EGM, despite a recount. So it is clear that shareholders know exactly who caused all this trouble. Shame the board are too embarrassed to release the voting figures for the other two stooges Jones and Fryer, who appear to have been saved by some horse trading by Rio Tinto.
