Minera Share Discussion Threads

[kirk 6] 16/12/2015 18:48

Wow... I can't see the rns????

[investment dave] 16/12/2015 18:48

The new board of Minera IRL is formed by Jorge Ramos, CEO of COFIDE, Julian Bavin, former Rio Tinto, while ratified the previous directory to Doug Jones and Robyn Fryer.Well that is some BOD's for a gold company. Can't really go wrong however should never say that. Once trading resumes I will be building a sizeable stake here

[investment dave] 16/12/2015 18:42

Ousted:Shareholders voted Minera IRL Limited 92% (131 million shares) for the exit of Jaime Pinto as chief executive of the parent company of Minera IRL SA owns the Corihuarmi Ollachea and reservoir project.The new board of Minera IRL is formed by Jorge Ramos, CEO of COFIDE, Julian Bavin, former Rio Tinto, while ratified the previous directory to Doug Jones and Robyn Fryer.President of Minera IRL SA, Diego Benavides who declined to be informed on the board because it has received complaints in recent days about his actions in the company. Once the investigations, could enter the parent directory."We must stop this smear campaign, demonstrate the truth and restore confidence for the benefit of the company and its shareholders," said Benavides.

[investment dave] 16/12/2015 17:41

Anyone heard any news?

[investment dave] 16/12/2015 14:50

Maybe they are struggling to count the votes again. Quite a complex procedure counting votes when they don't come out in your favour

[kirk 6] 16/12/2015 13:22

What time is the egm

[andy] 15/12/2015 18:05

Announcement by Pinto out in Peru only apparently, written in Spanish only.

I guess they will RNS it here tomorrow morning.

An attempt by Pinto to smear a few people ahead of the EGM by the looks of it.

[investment dave] 15/12/2015 17:30

He could actually be in deep trouble now the amount of enemy's he must have. Whether or not he takes this company down I would not be in his shoes for any money

[neudarian] 15/12/2015 16:58

Good to know that SOMETHING they do is legal!

[investment dave] 15/12/2015 11:02

Really quite amusing the rns today. Pinto must be high on legal drugs

[neudarian] 15/12/2015 08:35

Minera IRL (LON:MIRL) SUSPENDED – EGM to proceed on 16 December
• The Chairman of the Minera IRL Limited EGM on 26 November postponed the vote due to potential irregularities in a small number of proxy votes
• These votes have now been revoked and the Chairman of the Minera IRL Limited EGM now knows of no reason why existing votes submitted for the Minera IRL Limited AGM can not be validated.
• More simply the EGM can now proceed on 16 December according to the votes cast by shareholders.
• Shareholders do not need to recast their votes

[andy] 14/12/2015 23:47

duplicate. sorry.

[andy] 14/12/2015 23:47

This is the bit I don't like in the RNS;

-------


"The Board of Directors wishes to remind shareholders who have already submitted valid forms of proxy and do not wish to change their vote that they do not need to take any action. Shareholders who wish to vote and have not yet submitted a form of proxy may do so before 10:00 am EST on December 14, 2015.

Shareholders wishing to change their vote may submit a revised form of proxy before 10:00 am EST on December 14, 2015"

-------

This suggests to me the block may have changed sizes, and hence the "postponement".

It bought time for them to persuade the block to change sides.

Just my gut feeling, not based on fact, but I don;t like the look of the wording there.

[andy] 14/12/2015 21:28

Dave,

Have sent you a private message on ADVFN.

[investment dave] 14/12/2015 18:50

Where are you getting that from?

[investment dave] 14/12/2015 18:46

From the floor do you mean at the EGM?

[investment dave] 14/12/2015 17:28

Hi Andy what do you mean by that?? They have already voted

[andy] 14/12/2015 15:49

Boadicea,

Thinking about your comments, Rio are going to vote from the floor as their original proxy has been revoked, so they will have a free vote!

Do you agree?

[andy] 14/12/2015 12:44

boadicea,

Many thanks for a lucid explanation.

It clearly is not correct you can hold back the vote and persuade someone to change their vote, so one would hope that, as you rightly say, the original vote is upheld now.

If Hodges/Pinto do claim victory on an amended proxy, then Benavides will have to mount a legal challenge which will be expensive and drawn out.

Shareholders here are being regally shafted......

[boadicea] 14/12/2015 12:35

The new proxy replacing the one revoked may or may not be exercised in the same way. (Obviously it was originally cast against the board). However, the legality of the new vote must rest not on the validity of the NEW proxy but on the invalidity of the ORIGINAL one, whether subsequently revoked or not.
If the revoked proxy was valid at the time of the first count then that count must stand and any later vote becomes unnecessary and irrelevant.

Unless these relevant facts are crystal clear there is room, in fact a necessity, for legal challenge if the final declared result differs from the original one.

[andy] 14/12/2015 12:08

Does anyone know for sure whether Rio are allowed to change their original vote

And if share price Angel knew the original result, presumably they know how Rio voted originally?

[andy] 13/12/2015 22:10

Dave,

Ok Thanks.

I have never heard the term "proxy revocation" before, does that mean all votes remain the same or the votes of concern have possibly been changed?


Edit

Ok I have seen the explanation now.

Rio Tinto's votes will be voted on the day.and their block of 43 million will decide who wins on the day.

If they abstain it's fine, but if they vote for Hodges/Pinto, the resolution will be defeated!

Something doesn't smell right here, and I fear the worst now.

effectively, if the block had voted in favour of Benavides before, by postponing the vote at the EGM, Hodges/Pinto have had nearly three weeks to address the concerns and persuade Rio Tinto to vote in their favour.

Imagine if a general election was run in the same way!

[investment dave] 13/12/2015 12:54

December 12, 2015Minera IRL Board Concludes Investigation in Anticipation of EGM ResumptionLIMA, PERU--(Marketwired - Dec. 12, 2015) - Minera IRL Limited ("Minera IRL" or the "Company") (AIM:MIRL)(BVLAC:MIRL) announces that it has been advised that the Company's registrar has received a proxy revocation in respect of the votes whose validity came into question at the Company's Extraordinary General Meeting of shareholders (the "EGM") on November 26, 2015, resulting in the adjournment of the EGM and the commencement by the board of directors of Minera (the "Board") of an investigation into the validity of such votes. In light of such proxy revocation, the Board has determined that any potential issue with such votes has been resolved to its satisfaction and therefore the investigation has terminated. In his capacity as Chair of the EGM, Mr. Jaime Pinto confirms that, following such proxy revocation, he presently knows of no reason that any proxies submitted for the EGM cannot be validated.The adjourned EGM will be re-convened on the 24th Floor at 333 Bay Street, Toronto, Ontario M5H 2T6, on December 16, 2015 at 10:00 a.m. EST (3:00 p.m. GMT).

[andy] 12/12/2015 21:59

Dave,

Pardon?

I have today's newsletter and nothing in there, where are you seeing that please?