|They have been trying to talk gold down for over a year now with the interest rate talk.
Each time I have done the opposite it's served me fairly well so far.
I also think Trump wants a cheaper dollar so that might well help gold.
Nothing is written in stone but I am expecting a volatile week next week so let's see....oh and there's a little thing like the French elections coming up in April.
Ypu have to be flexible in this game and I am quite prepared to change my stance if events warrant it but so far I am holding on to a few PM's.|
|All true... the Bid & Ask melee on the CSX is a challenge, timing would appear to be everything.
I'm optimistic with the current situation simply because a firm change in Plan has been tabled, appears to be viable and is underway - sometimes that alone is a good indicator of strong, thoughtful Management... instead of pursuing a flawed Plan endlessly, ultimately culminating in failure & loss.
Some might like to reminisce about the original Plan way back in 2014 and the "what-ifs"... but guess what, it didn't come to anything, there are no Time Machines and only the current Plan looking ahead can take us anywhere close to an operating Gold Mine|
Anyone with a TD account can buy and sell Minera, not sure why you think Potter is the only one...........|
"Gold and Precious metals generally are very much in vogue again in my opinion."
Not if you look at the charts they aren't!
Bix Weir says what you want to hear, talk of the gold standard is just that, talk, IMO, it will never happen as otherwise governments couldn't inflate away their debts.
The gold standard imposes a discipline on governments that they would not rather have. hence why it was dropped.|
|I might add that even if I could sell I wouldn't be either as Gold and Precious metals generally are very much in vogue again in my opinion.
Bix Weir even brings up gold standard talk again and people seem expectant of wild times so why not keep them anyway?!|
You surprise me sometimes, before the re-listing i was bullish and you were uber bearish, even upon re-listing, yet now we have had this news, that I personally see as poor, I expected you to be bearish, yet you're super bullish!
It's a funny old game!|
|All I know is that COFIDE had definitely NEVER provided all of the funding needs for the Project.
They were also only ever likely to provide any further funding IF the most recent exploration results suggested the proposed Mine was extremely viable in terms of Costs vs Profitability over reasonable timescales.
MIRL themselves clearly stated they intended to pursue a different short-term Plan at a much lower initial Cost in order to get something up & running... that's the Plan, not to tap COFIDE for another $170m to undertake a massive, time consuming Mine development BUT to do something much smaller scale to shorter timescales.
Everything has already changed many weeks before this announcement from COFIDE.
Am I bothered... NOPE.
|Remember........the quote ON SHARE HOLDER friendly terms.....speak soon guys let's say 31st march oooohhhh that's a Friday another news release maybe|
|Dave I hope u are well......now tell me let's say a loan of £240 million plus interest say a total of £270 million.......if u were able to cut costs and make a deal for a lot less what would u do........|
|Hazl do you not think London will re list??? Andy I take it your suggesting a IG fund raising on the London market!This sounds good:"Sector sources with ties to Minera IRL told Gestión that the company is evaluating proposals with two mining supply companies that may offer financing for the gold mining project. It is hoped that by the end of this month an agreement can be reached."|
|All.......news out IKN......potter u are correct........this was bound to happen......they have more gold than before now do u honestly think Andy that Diego hasn't a plan..........wait and see what better way to have the construction company as a partner.....mind u it's not one but two u should really subscribe to IKN monthly take care all|
I think the reason for the London listing has become clearer.|
|Let's just wait and see if we get a London listing before we get excited/worried about anything.|
That is how it's being spun, but this looks a bit strange to me.
If they have a commitment, and the mine will bring jobs, taxes, and wealth creation to Peru, why back down?
I would have thought they would have honoured their commitment personally.|
|Cofide gave a bridge loan of 70m USD, and they had a mandate to syndicate up to another 170 m USD loan for the mine construction. Most probably Cofide will roll forward the 70 m USD loan and MIRL will find other ways to finance the CAPEX for the mine. I guess there are debt financing opportunities available, only question is the conditions. They are probably less attractive than Cofide's were.
|Isn't it a change of a political policy, as opposed to anything mirl?|
Well I don't like it, why would going from fully financed to partially financed and looking for other sources to make up the difference, be seen as good news?
And if it is good news, why was being fully financed by COFIDE not seen as bad news before
I'm genuinely surprised everyone sees this as positive personally.|
|Previous News did propose the Business wasn't looking for such a huge amount of Finance any more... and this withdrawal by COFIDE seems to align very well with that different approach the Business presented at that time (it's revised Plans).
The Business did also say it was looking at alternative means of securing Finance... so this news today is no surprise.
The best news now would be confirmation that the latest, revised Business Plan can kick-off as a result of securing lower levels of Finance from an alternative source... I think $30m was mentioned in previous news|
So the company have gone from being financed (subject to drill results) to not being fully financed, a retrograde step IMO.
The late releaSe on a Friday does them no credit either, IMO.|
LIMA, PERU--(Marketwired - Mar 10, 2017) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL)(CSE:MIRL)(MIRL.CN) announces that Corporacion Financiera de Desarrollo of Peru ("COFIDE") has advised that it has revoked the mandate to exclusively structure the senior debt to a maximum of US$240 million for the development of the Ollachea gold project in Puno, Peru.
COFIDE has changed its strategy to focus on financing small and medium industry ("Mypes").
The Peruvian Government announced on March 9, 2017 an Economic Impulse Plan that will prioritize the credit for the Mypes through COFIDE, among other measures to boost the Peruvian economy.
The Company is assessing its options to finance the development of the Ollachea Project and has been developing an optimized plan to enhance shareholder value.
Diego Benavides, CEO and Director, of Minera IRL said, "We are confident of being able to obtain the necessary investment to develop Ollachea on shareholder-friendly terms. We anticipate being able to bring news of further developments to the market in the near future."|
|morning Andy/Jake, could you post a link to this news, tia|
|Otto @ IKN doesnt seem overly concerned and i value his opinion. Hes been spot on about everything so far and i see no reason to start doubting now. Onwards and upwards.|
|Not good news!
COFIDE were the backstop for the financing, so now they have to look elsewhere, I cannot see how this can be perceived as good.|
|Yes up a good bit yesterday! No interest here for me though until we can trade on AIM London markets. Just hope the share price doesn't get away with itself too much! Still actually down from the 22c open on cse market a month ago.|