Share Name Share Symbol Market Type Share ISIN Share Description
Minera LSE:MIRL London Ordinary Share JE00B1HNYF12 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 3.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 21.6 -19.1 -11.8 - 5.32

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Date Time Title Posts
06/12/201613:49Minera IRL - 20105,026.00
20/6/201611:26ISA-
09/11/201414:17Minera IRL share price analysis2.00
29/10/201412:10Minera IRL share price analysis-
23/2/201407:59Minera857.00

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DateSubject
05/12/2016
20:42
sergiosifuentes: Benavides new Minera IRL CEO December 5, 2016 lawrieongold In a move that many will consider should have happened some time ago, Diego Benavides – who has headed up the Minera IRL Peruvian operating company for some years – has been accepted onto the parent company board and will be the company’s new Chief Executive. Benavides will have been seen by the company’s Peruvian shareholders in particular as the saviour of the company in protecting the operating company’s gold mining revenues from the alleged predations of the Hodges Board, keeping the Ollachea community onside and being primarily responsible for negotiating the Ollachea financing deal with COFIDE. In an announcement today, Benavides and three others, were welcomed to the Board by the company’s sole remaining director following the recent AGM. At the AGM three of the previous five directors did not offer themselves for re-election and a fourth, the Chairman and CEO, Frank O’Kelly was voted off the Board after a hard-hitting anti-Board campaign by Latin American focused blog, Inca Kola News who felt that some of the AGM proposals were designed to be for the benefit of Board members rather than the shareholders. While much of the anti-Board focus was aimed at the three Board members who stood down, O’Kelly was also voted off although his downfall was perhaps the perception that he did not exert sufficient control and guidance and that his choice of fellow directors was misguided. O’Kelly had been a long time consultant to Minera IRL dating back to the days of company founder – the late Courtney Chamberlain – and thus a long time associate of company co-founder Benavides. It was notable that in the announcement of the new Board, the remaining director from the old Board and Independent Chairman, Gerardo Perez, paid a tribute to O’Kelly thus: “I wish to extend my sincere thanks to Frank O´Kelly for his outstanding support in the management of our Company. It has been a pleasure to have worked closely with Frank.” Now we hope that Minera IRL will be able to get on with the development of its flagship Ollachea mine where development is already well in progress. As O’Kelly himself pointed out prior to his being voted off the board of the company with which he had been involved for many years, Minera IRL has an operating gold mine in Peru in Corihuarmi, which is close to the end of its operating life. But its flagship project is the major advanced new gold mine development, Ollachea, located in Puno in the South of Peru. This project is fully funded by a Peruvian State Development Bank ($240 million facility of which $70 million has been advanced). The mine is fully permitted and has subscribed a 30 year social license with the local community. The mineral resource exceeds 2.40 million ounces Au and M+I reserves of 1 million ounces, which will sustain a production of 100,000 ounces of gold per annum for a decade. The company is presently drilling off an already constructed 1.2 km access tunnel with a target of adding an additional 600,000 ounces to the resource. The down dip extension which is currently being drilled reports intersections up to 20 m with grades from the only 3 holes for which so far have assays reporting 5 g/t Au, some 40% better grade than the main ore body which was delineated with 82,000 m of drilling. AMEC has filed a NI 43-101 compliant feasibility study. In anticipation of production by the end of 2018 the company has negotiated a fixed price turnkey EPC contract with Peru’s largest mine construction company, Graña y Montero, and is currently assembling what it describes as a first class owner’s management team. MIRL is in the process of commencing detailed design and placing orders for long lead capital items of equipment. The company reckons that there are only a handful of advanced gold projects in the world in the condition of Ollachea and there should be enthusiastic acceptance from investors. This is a situation where prior controversy has depressed the share price to levels of an order of magnitude of what other less advanced gold project are commanding. There is a capacity for a very substantial increase in the share price reckoned O’Kelly. He went on to note that companies like Dalradian command a market cap ten times that of MIRL, whilst possessing comparable resources but still have permitting and financing challenges ahead. Meanwhile MIRL has a producing gold mine, a fully funded project with all the permits in place, a 1.2 km access tunnel, an EPC fixed price contract with Peru’s largest mine construction company and a 30 year social license for the local community. One can count on one hand, he says, the number of gold projects as advanced as Ollachea. hTTps://lawrieongold.com/2016/12/05/benavides-new-minera-irl-ceo/ IKN post
12/11/2016
15:14
maxoscar1: If the share price gets to 8.85p I break even fingers crossed guys have a good weekend..........
11/11/2016
21:34
investment dave: Interesting thanks maxAn email from Frank O'Kelly, Chairman and Interim CEO of Latin American junior gold miner/developer, Minera IRL suggests that he, and his colleagues, now anticipate that the Ontario Securities Commission will shortly allow trading to resume in MIRL stock. Trading was suspended when the company failed to file its 2015 financials, a situation precipitated by the untimely death of the then Chairman and CEO, Courtney Chamberlain, and a subsequent internal struggle for control of the company.Since that time much has changed with regard to the executive management of the company: The former directors have been replaced and legal disputes resolved pursuant to an extraordinary meeting of the shareholders and the appointment of long term consultant to the company, O'Kelly, as Chairman and interim CEO. Mr. O'Kelly is a seasoned professional with many years of experience of mining in South America.The company is now completely up to date with its filings and the Board has been reconstituted with high profile individuals including most recent addition, Robert Schafer, President of Canada's Prospectors and Developers Association.The company has an operating gold mine in Peru in Corihuarmi, which is close to the end of its operating life. But its flagship project is a major advanced new gold mine development, Ollachea, located in Puno in the South of Peru. This project is fully funded by a Peruvian State Development Bank ($240 million facility of which $70 million has been advanced). The mine is fully permitted and has subscribed a 30 year social license with the local community. The mineral resource exceeds 2.40 million ounces Au and M+I reserves of 1 million ounces, which will sustain a production of 100,000 ounces of gold per annum for a decade. The company is presently drilling off an already constructed 1.2 km access tunnel with a target of adding an additional 600,000 ounces to the resource. The down dip extension which is currently being drilled reports intersections up to 20 m with grades from the only 3 holes for which so far have assays reporting 5 g/t Au, some 40% better grade than the main ore body which was delineated with 82,000 m of drilling. AMEC has filed a NI 43-101 compliant feasibility study.In anticipation of production by the end of 2018 the company has negotiated a fixed price turnkey EPC contract with Peru's largest mine construction company, GraƱa y Montero, and is currently assembling what it describes as a first class owner's management team. MIRL is in the process of commencing detailed design and placing orders for long lead capital items of equipment.The company reckons that there are only a handful of advanced gold projects in the condition of Ollachea and there should be enthusiastic acceptance from investors.This is a situation where prior controversy has depressed the share price to levels of an order of magnitude of what other less advanced gold project are commanding. There is a capacity for a very substantial increase in the share price.When trading opens, MIRL shares will be able to be traded on the Lima Stock Exchange and as a temporary measure on the Canadian CSE Exchange, whilst the company's application for reinstatement on the TSX is being processed.O'Kelly himself comments that he is anticipating the lifting of the OSC "cease trade order" any day now and that some shareholders may see this as an opportunity to dump the stock whilst others may recognize this as a unique opportunity to make a killing. His personal view, and he is not one prone to hyperbole, is that the stock is chronically undervalued. The writer has known O'Kelly off and on for over 50 years so writes with personal experience of his character.
16/6/2016
07:37
maxoscar1: Dave......seen the gold price they have to re rate the share price on re listing surely.......GLA
06/6/2016
17:41
maxoscar1: Dave all I can say if courney was alive today none of this would of happend and the share price would be well over 50p......lets just hope diego pulls it off GLA
23/5/2016
06:11
investment dave: With the combination of a much higher gold price and a great board in place the only thing left now is confide and the share price will be recommencing trading 100's% higher on the tsx
05/5/2016
08:01
andy: archlight, I think he means the W8-BEN form which is required to avoid paying tax on any US listed shares you may hold, as a non US citizen. I am not aware it's a requirement to trade Canadian stocks, but TD ask for it to be completed too. Sadly the point he did not address is if someone has Minera shares listed on AIM in his account still, what does he have to do to make them tradeable on the TSX? As I understand it, it has to be done by the registrar, Medusa Mining on the ASX was an example of this, when they delisted from AIM. With Medusa, it took an interminable amount of time to complete, dues to issues between the registrar and brokers, and the share price fell whilst people were unable to trade them, so this is something people should address now, before the stock relists on the TSX IMO.
29/3/2016
16:47
investment dave: Hazl yes and potentially at a higher share price if minera get the confide funding
02/3/2014
16:19
johncraven: If the Ukraine situation becomes a war the price of gold will Jo doubt increase helping the MIRL share price
17/9/2013
14:01
bam bam rubble: Broker targets are meaningless. Wise up to the ways of the City. Fox Davies broker notes on MIRL Jan 2012: share price 71p Target set at 178p (i.e. x2.5 multiple) May 2012: share price 52p Target cut to 130p (i.e. x2.5 multiple) Aug 2012: share price 47p Target cut to 116p (i.e. x2.5 multiple) Sep 2012: share price 45p Target cut to 112p (i.e. x2.5 multiple) May 2013: share price 19p Target cut to 48 p (i.e. x2.5 multiple) Aug 2013: share price 14p Target cut to 36 p (i.e. x2.5 multiple) Not genuine valuations, just churned out as a set multiple of the share price and used like a carrot-on-a-stick, always ahead of the share price. If MIRL was trading at 4p, applying their current chosen multiple of x2.5 they'd suggest a target of 10p.
Minera share price data is direct from the London Stock Exchange
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