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.