Out of interest, who do you think are the "trolls" here?
I think this is on of the best threads on ADVFN, it avoids the excesses of other threads, and is actually very focused, and a decent discussion.|
It is listed.
|Well, I had these from a while back and sold on the Canadian market for three times the buy price (thanks to the poster who mentioned selling on the Canada market)
Not sure why some stocks seem to be infected with trolls. Anyway have not the time to research all the stuff I hold so the trolls win on this one.|
|Andy how are you going to buy minera if it's not listed lol|
Exactly, generally speaking the best time to buy a gold share is around the first of August, although it doesn't work all the time obviously.
I have a list of stocks, including Minera, that I'm considering buying on weakness, we'll see if I get lucky or not.
Typo, I meant, 'Gold' not 'good' above|
|YES Gold does tend to be seasonal.|
That's why I didn't view the recent COFIDE announcement as positively as others did, and I have not invested (yet) as a result.
Summer is coming, gold stocks are moving lower, plenty of time to be patient IMO.|
|Just don't think the revised Business Plan and the current level of Debt would meet AIM requirements... how does a Business already suspended from a Market manage to meet re-entry criteria with such huge debt and a much reduced Business plan ?
I think we have to wait and see just how viable the revised Business Plan is, based on just how much Gold might be accessible to quicker timescales and with significantly lower investment, whilst still dealing with the huge debt to COFIDE - we really don't know the fine detail or how viable it is...|
|What's that got to do with anything? It's still listed on 2 exchanges just not the right one|
|With the complete change in circumstances regarding the Business Plan, funding & debt, I wouldn't expect to see this back on AIM any time soon.|
|Any ideas when this might actually resume trading on AIM?|
|That will be interesting... I quite like his Blog (style & content), having read it every few weeks this past few months... even if he is somewhat biased when it comes to Minera.
It would be brilliant if he could publish some images of the actual Ollochea development it is today !!|
|The IKN news guy is onsite this week so expect an update from him very soon.|
|Interesting challenge isn't it.
Where did that $70m go exactly over the past 2 years ?...
- Exploration of the existing, basic Ollochea mine(s) ?
- Sustaining the long-standing Corihuarmi mine ?
- On-going contributions to the development & well-being of the local Communities ?
What outcomes have been achieved ?
- happy Locals in sustained employment
- some stats about the viability of Ollochea
- withdrawal of additional Project funding for Ollochea
- MV & share price slump
- PI dilution & negative Shareholder value
Have I missed anything.
All that said, the Business Leaders definitely have a new/revised Plan for taking Ollochea forward in a less costly manner and to keener timescales, so maybe there's still a gilt-edged lining to this Story about to be revealed ?|
|USD 70 million to be repaid/ rolled over in June. Excitement in this quarter.|
|This is not normally something I'd do but I'm going to suggest new News, in the affirmative, by 21/04 !!!!|
|Minera IRL Reports Year-End 2016 Financial Results
Marketwired MarketwiredMarch 31, 2017
LIMA, PERU--(Marketwired - March 31, 2017) - Minera IRL Limited ("Minera IRL" or the "Company"), (BVLAC:MIRL)(CSE:MIRL)(MIRL.CN), the Latin America gold mining company, has reported its financial results for the year ended 31 December 2016. The Company has also provided an update on its outlook for 2017.
Gold sales of 23,343 ounces (2015: 24,056 ounces) at an average realized gold price of $1,245 per ounce (2015: $1,143 per ounce).
Revenue of $29.1 million, (2015: $27.6 million).
Gross profit of $7.2 million (2015: $6.5 million).
Loss before tax of $10.4 million (2015:14.7 million).
After tax loss of $10.4 million (2015:15.1 million).
Cash balance of $6.8 million at the end of the quarter (December 2015: $15.6 million).
Debt of $69.2 million at 31 December 2016, up from $65.7 million at 31 December 2015 (including amounts due to Rio Tinto).
Gold production from the Corihuarmi Gold Mine of 23,399 ounces (2015: 23,917 ounces).
Ore mined and staked of 3,040,331 tonnes (2015: 2,965,576 tonnes).
Waste of 1,430,311 tones (2015: 825,985 tonnes).
Total cash costs were $806 per ounce produced (2015: $793).
Total all-in sustaining costs (AISC) were $1,074 per ounce produced (2015: $1,047)
Results of the 2016 Minapampa East zone drill program outline an exploration target of 370,000 to 550,000 ounces of gold contained within 3.1 to 4.6 million tonnes, grading 2.9 to 4.3 g/t gold
Commenting on the annual results, Gerardo Perez, Minera IRL Limited's Chairman, said, ""I have the honor to Chair the Board of Directors, which has received the mandate from our shareholders to pursue opportunities which generate value for the Company. Thus, in these few months we have made good progress in the company. The two most important milestones that we achieved last year were"
The revocation of the cease trade orders issued by the Canada and Peru securities regulators and subsequent recommencement of trading on the Lima Stock Exchange (BVL) and Canadian Securities Exchange (CSE) earlier this year.
The successful drilling campaign carried out at Ollachea during the second half of 2016, proving the continuation of the Minapampa mineralization over 500m to the east. The results outline an exploration target of 370,000 to 550,000 ounces of gold contained within 3.1 to 4.6 million tonnes. The mineralization at Ollachea remains open to the east and at depth.
"Our Corihuarmi Gold Mine continued to exceed expectations and provided strong cash contributions in 2016. The exploration campaign the Company carried out between December 2016 and March 2017 allows us to extend Corihuarmi's life of mine well into 2019. Whereas we have recorded a gross profit of US$7.2 million, we incurred an after-tax loss of US$10.4. The gold price is, at the date of this report above the US$1,200 level which compared to the price at the end of 2016 of US$1,159 per ounce, and US$1,062 at the end of 2015, shows a moderate upwards trend.
Regarding the Ollachea Project we are currently evaluating to optimize the CAPEX, the processing plant size, cutoff ore grade and mine development strategy.
The cash flow from the Corihuarmi mine covers our general, administrative and social costs.
Regarding the mandate for the U$240m structured financing subscribed with COFIDE dated June 2015; the agreement was revoked by COFIDE due to a strategy change of the organization by the government of Peru. Once the exclusivity clause of the mandate lapses on April 1st 2017, the company's objective is to secure financing for the Ollachea project during the second quarter of 2017.
Community relations at Ollachea remain strong. The Company supports important programs in health and welfare, nutrition, education and sustainable development.
I wish to convey my sincere appreciation to our current Board of Directors, management team and all employees for their loyalty, dedication and hard work. I would also like to thank our shareholders for their continuing support. I feel confident that continuing potential at our Corihuarmi gold mine and our Ollachea gold project places Minera IRL Limited in a good position to continue building a successful Gold Producer Company
A summary of the key financial measures for the three- and twelve-month periods ended 31 December 2016.
Table 1: Summary of Key Financial and Operational Measures
Operating Parameters Three Month Period
Ended 31 December Year
Ended 31 December
2016 2015 2016 2015
Waste (tonnes) 426,499 143,187 1,430,312 825,985
Ore mined & stacked on heaps (tonnes) 729,904 778,038 3,040,331 2,965,576
Ore grade, mined and stacked (g/t) 0.40 0.30 0.32 0.33
Gold produced (ounces) 6,149 6,036 23,399 23,917
Total cash costs ($ per ounce) 1 824 892 806 793
Total all-in sustaining costs ($ per ounce) 1 1,110 1,304 1,074 1,047
Financial Three Month Period Ended
31 December Year Ended
2016 2015 2016 2015
Revenue ($'000) 7,454 7,669 29,163 27,584
Gold sold (ounces) 6,206 6,987 23,343 24,056
Realized gold price ($ per ounce ) 1,196 1,098 1,245 1,143
Gross profit ($'000) 1,660 2,041 7,244 6,527
Loss after-tax ($'000) (2,322) (4,630) (10,413) (15,085)
Comprehensive loss ($'000) (2,322) (4,630) (10,413) (15,085)
Loss per share - (cents) (1.0) (2.0) (4.5) (6.5)
1 - Refer to the Cautionary Non-GAAP and Non-IFRS Statements at the end of this release
In 2017, the Company is forecasting gold production of 22,000 ounces from Corihuarmi. Production is expected to come mainly from the Cayhua zone, along with continued production from zones Susan, Laura, Tambo Nuevo, Diana extension, plus nearby Scree Slope material.
The 2017 Corihuarmi capital budget is $2.0 million for the construction of a heap leach pad. This expansion is to accommodate all of the material that is scheduled to be mined and stacked until the second quarter of 2018.
Between December 2016 and March 2017, the Company completed 7,291 metres of exploration drilling in 86 drill holes at the Corihuarmi mine. The exploration program defined additional material at the Cayhua, Tambo Nuevo and Laura zones. As a result of the exploration activities and evaluation, the Corihuarmi life of mine has been extended until mid-2019.
This press release should be read in conjunction with the Company's full Report & Accounts, including the Management's Discussion and Analysis ("MD&A") for the year ended 31 December 2016, which are available from the Company's website (www.minera-irl.com) and on SEDAR (www.sedar.com).
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Cautionary Statement on Forward-Looking Information|
|Been quiet on this board for over a week..............is no news good news?|
|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?!|