Minera Share Discussion Threads

[bigjake1] 14/2/2017 22:08

Brilliant! Can't wait!! Only 24 hrs until Potter is gone and we wont have to listen to this negative drivel. Seeya maxo

[pottermagic2310] 14/2/2017 21:40

Not sure a 5% rise in the Gold price is going to make a massive difference to the CSE & BVL SPs ???
I do think the good News will attract Buyers in both Markets and we've already seen a decent uplift in both during today's trading hours.
Really hope that the News spreads far & wide this next 24 hours, then I'm out.

[investment dave] 14/2/2017 21:11

Yes great result but disappointing for people who want to trade and invest on the London market. Fair play to potter if he has found a way. If gold gets back over 1300 the share price will have risen on the cse.

[hazl] 14/2/2017 20:37

THANKS for keeping us informed people.
I think we might miss the best of the gold rise if it's the 3 /4 2017 but its great that it is happening,or seems to be.

[pottermagic2310] 14/2/2017 20:27

This is very positive in alot of respects, particularly the thought that has gone into putting valuable Ops in place sooner rather than later... this reminds me a little of what has occurred with FDI, after a number of years initially getting nowhere fast.

The thought process around Debt seems good too.
I guess my only concern is how the Markets may react - you would hope they see the real sense in this revised Plan, keener timescales and containing Debt - but you never know.
Definitely up again on CSE this evening.

VIVA LA PRESIDENTE !!!!
;-)

[investment dave] 14/2/2017 16:49

The next step is to re-list in London (AIM), which should be in 3q17. London is very important (to us) as 55% of our shareholders are there, above all the institutions."Not before July then!!? )-:

[investment dave] 14/2/2017 16:32

Semana Economica: In 2015 and 2016 there was an internal power struggle at Minera IRL. Are all the problems now resolved?

Diego Benavides: "All the legal actions brought against me by the ex-directors of IRL have been dismissed. We've managed to re-list our shares in Lima (BVL) and Toronto (CSE). The next step is to re-list in London (AIM), which should be in 3q17. London is very important (to us) as 55% of our shareholders are there, above all the institutions."




SE: When will production start at your Ollachea project?

DB: "The objective is to begin construction as soon as possible, we could begin within three or four months and between June and July 2018 we would be in production. The estimated capex was around U$180m, but our debt capacity has a limit and we do not want to dilute our shareholders (by emitting a lot more shares. Due to this we are optimizing the project and reducing capex to U$30m."




SE: How will the project change?

DB: "We're looking to reduce the daily throughput from 3000 tonnes to 1500 tonnes. This will allow a reduction in construction time from two years to one year. In the first two years we would produce around 60,000 or 70,000 ounces of gold (instead of the current estimate 100,000 ounces). In year three, with positive free cash flow, we will expand volume to 2000 or 2500 tonnes and gold production pays for capex and opex, which will allow shareholders to have upside."




SE: In 2015 Cofide awarded a U$70m bridge loan to IRL in order to finance Ollachea. How has that advanced?

DB: "There were two conditions to secure the final loan. First a drill program which is now complete and has increased the inferred resources at the project by around half a million ounces. Second, the change of the construction contract from an EPCM to an EPC "turnkey" deal, which hands off construction risk to the contractor.

We will talk with Cofide in order to determine whether a syndicated loan is the most appropriate (as initially thought) as it will weigh us down with debt. We have to lighten this. The current plan is to restructure with leasing and reduce principal financial debt. We believe the final debt deal can be ready by June."

[pottermagic2310] 14/2/2017 14:18

You beat me to it... I was monitoring the BVL, CSE and IKN Blog yesterday evening/night, suspecting something was about to happen, having looked back through a few of my own Posts and timelines I'd suggested for any +ve News.

This is ORE-some, LOLs ;-)
Sort of pleased I wasn't quick enough to get everything in place to sell on the CSE 2 weeks ago... still somewhat on-going today BUT can definitely sell most of my holding from tomorrow... HAPPY DAYS

VIVA LA PRESIDENTE !!!
LOLs
;-)

[investment dave] 14/2/2017 12:33

Minera IRL Limited

CSE : MIRL
LMA : MIRL
CSE : MIRL.CN


Minera IRL Limited


February 13, 2017 19:00 ET

Minera IRL Announces Final Assay Results for Minapampa Far East in Ollachea






LIMA, PERU--(Marketwired - Feb. 13, 2017) - Minera IRL Limited ('Minera IRL' or the 'Company') (CSE:MIRL)(CSE:MIRL.CN)(BVLAC:MIRL) is pleased to announce the final assay results of its 2016 Minapampa Far East drill program, at its Ollachea flagship gold project in Puno, Southern Peru. The results have demonstrated that gold mineralization at Minapampa continues over 500m to the east and remains open to the east and at depth. The results announced today are from 5,421 m (23 drill holes) of drilling conducted in 2016 at Ollachea.

The drill hole results have been used to outline an exploration target in the Minapampa Far East mineralized zone 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, (this tonnes/grade range is reported within the framework of the N.I. 43-101 Restricted Disclosure Section 2.3(2)). The potential tonnages and grades are conceptual in nature and are based on drill results that define the approximate length, thickness, depth and grade of mineralization in the Minapampa Far East mineralized zone. The exploration results from the 2016 together with this interpretation will be used as the basis for estimating a maiden Mineral Resource estimate on the zone.

"We achieved our goal of proving that the mineralization continues well beyond the existing 43.101 compliant Mineral Resource. We expect that the results will expand the Ollachea Mineral Resources and will likely extend the Minapampa mine life. We believe the Ollachea Project is still significantly underexplored, with considerable potential to add to the Mineral Reserves, which are currently over 1 million ounces1", said Diego Benavides, Chief Executive Officer and Director of the Company.

1 Refer to previous press release dated 4 June 2014

The Company's primary objective are to advance the Ollachea Project to a construction decision and to expand the resource base through ongoing exploration. To that end, the Company expects to release a new Mineral Resource Estimate for the Minapampa Far East Area, combined with an update to the Minapampa Feasibility Study by mid-year, 2017.

Significant drill hole intercepts from the program are:


DDH16-T06 8 m downhole @ 3.69 g/t from 122 meters of depth
DDH16-T07 13 m downhole @ 6.34 g/t from 143 meters of depth
DDH16-T10 4 m downhole @ 11.23 g/t from 217 meters of depth
DDH16-T11 21 m downhole @ 3.61 g/t from 96 meters of depth
DDH16-T12 18 m downhole @ 3.4 g/t from 122 meters of depth
DDH16-T14 22 m downhole @ 2.41 g/t from 176 meters of depth
DDH16-T16 4 m downhole @ 16.8 g/t from 294 meters of depth
DDH16-T18 10 m downhole @ 2.59 g/t from 186 meters of depth
DDH16-T18 10 m downhole @ 2.65 g/t from 198 meters of depth
DDH16-T19 19 m downhole @ 2.96 g/t from 188 meters of depth
DDH16-T24 18 m downhole @ 2.1 g/t from 190 meters of depth
DDH16-T24 7 m downhole @ 4.05 g/t from 213 meters of depth

Technical details: Minapampa Far East Drill Results

Minera IRL geologists undertook detailed two dimensional geological interpretations on cross section and in plan upon receipt of the final assay results. Mineralized zones were delimited an a nominal grade threshold of 1 g/t gold. This updated interpretation attributes mineralized intercepts to different mineralized zones when compared to the initial interpretation presented in the November 28, 2016 press release.

Figure 1 displays a plan view of the project area, while figure 2 displays a longitudinal projection of the interpreted 202 mineralized zone 202, which is the dominant mineralized structure in the Minapampa Far East zone.

Figure 1. Plan view showing Minapampa Far East drill hole traces and interpreted mineralization

To view the figure associated with this release, please click on the following link: hxxp://media3.marketwire.com/docs/MINERA-Fig%201.pdf

Figure 2. Longitudinal Projection of Mineralized Zone 202 showing composite gold grade (g/t) and true thickness (m)

To view the figure associated with this release, please click on the following link: hxxp://media3.marketwire.com/docs/MINERA-Figure%202.pdf

Minapampa Far East Drill Results Table

The table (included with this release) details all mineralized intercepts from all drill hole results received since the initiation of the drill program on Aug. 11, 2016. Previously reported drill holes "DDH13-T01", "DDH13-T03" and "DDH13-T04" are also in the Minapampa Far East zone and so are included here for completeness. Results are uncapped. True thicknesses are reported based on the interpreted local dip and dip-direction of the mineralization and the dip and azimuth of the drill hole trace. No minimum thickness constraint is applied.

Target for further exploration

The drill hole results have been used to outline an exploration target in the Minapampa Far East mineralized zone 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, (this tonnes/grade range is reported within the framework of the N.I. 43-101 Restricted Dislosure Section 2.3(2)). The potential tonnages and grades are conceptual in nature and are based on drill results that define the approximate length, thickness, depth and grade of mineralization in the Minapampa Far East mineralized zone. The exploration results from the 2016 together with this interpretation will be used as the basis for estimating a maiden Mineral Resource estimate on the zone.

Updated Resource Estimate and Timing of Future Studies

The Company will begin a resource estimate for Minapampa Far East towards the end of February 2017. The Company anticipates combining the updated Mineral Resource Estimate and the results of an updated Feasibility Study in an updated Technical Report for the Ollachea Property. The results of this work are expected to be complete by mid-year 2017.

Qualified Person

The Minapampa Far East drill program is under the supervision of Andrew Fowler, PhD, MAusIMMCP(Geo). Dr. Fowler is a full-time employee of Mining Plus Peru SAC and is an independent Qualified Person ("QP") as defined by the N.I. 43-101. Dr. Fowler has reviewed and approved the technical content of this release.

Quality Assurance - Quality Control ("QA/QC")

Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The half-core samples are submitted directly to Certimin Laboratories, Juliaca, Peru for preparation. Analysis is completed at Certimin's facility in Lima, Peru. Analysis is conducted on 50 g aliquots. Analysis of Au is performed using fire assay method with atomic absorption (AA). Certimin has been servicing the Peruvian mining industry for 21 years. It participates in international proficiency testing programs such as CANMET and GEOSTATS, and develops its services with the support of the Integrated Management System for the compliance of regulatory requirements such as ISO 9001, ISO /IEC 17025, ISO 14001, and OHSAS 18001. Dr. Fowler has reviewed the QA/QC results for the Minapampa Far East drilling program and considers that they adequately demonstrate the Certimin assay reliability.

To view the table associated with this release, please click on the following link: hxxp://media3.marketwire.com/docs/MINERA%20Tables.pdf

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

Certain information in this news release, including information about the Company's financial or operating performance, information about the legislative regime to which the Company is subject, and other statements expressing management's expectations or estimates of future events, performance and exploration and development programs or plans constitute "forward-looking statements". Forward-looking statements in this press release include our plans for establishment of updated resource estimates and the expected timing to accomplish each of them. Forward-looking statements are, necessarily, based upon a number of estimates and assumptions. While considered by management to be reasonable in the context in which they are made, forward-looking statements are inherently subject to political, legal, regulatory, business and economic risks and competitive uncertainties and contingencies. The Company cautions readers that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Minera IRL's actual financial results, legislative environment, future performance and results of exploration and development programs and plans to be materially different than those expected or estimated future results, performance or achievements and that forward-looking statements are not guarantees of future performance, results or achievements.

Minera IRL assumes no obligation, except as may be required by law, to update or revise them to reflect new events or circumstances. Risks, uncertainties and contingencies and other factors that might cause actual performance to differ from forward-looking statements include, but are not limited to, any failure to obtain or complete project financing for the Ollachea Gold Project (including the Senior Debt Facility), availability of labour and equipment and financial resources, delays in development or in receiving reports on our development, changes in the price of precious metals and commodities, changes in the relative exchange rates of the US dollar against the Peruvian nuevo sol, interest rates, legislative, political, social or economic developments both within the countries in which the Company operates and in general, contests over title to property, the speculative nature of mineral exploration and development, operating or technical difficulties in connection with the Company's development or exploration programs, increasing costs as a result of inflation or scarcity of human resources and input materials or equipment. Known and unknown risks inherent in the mining business include potential uncertainties related to the title of mineral claims, the accuracy of mineral reserve and resource estimates, metallurgical recoveries, capital and operating costs and the future demand for minerals. For additional information, please consult the Company's most recently filed MD&A and Annual Information Form.








Contact Information



Minera IRL Limited
Diego Benavides Norlander
Chief Executive Officer
[phone]

Minera IRL Limited
Carlos Ruiz de Castilla
Chief Financial Officer
[phone]

Minera IRL S.A
Marco Arevalo
General Counsel
[phone]

[brian boru] 14/2/2017 10:32

inyourdreams

[investment dave] 14/2/2017 10:20

By the time lse is back on it will be worth 50p

[pottermagic2310] 14/2/2017 09:02

Here's the News report (translated)

target='window'>https://translate.google.co.uk/translate?hl=en&sl=es&u=

Hopefully this will give the share price a boost on the BVL & CSE this week
;-)

[investment dave] 14/2/2017 02:34

Brilliant news what about London though!

[bigjake1] 14/2/2017 01:55

looks like we are back in the game according to Otto on IKN!!!!

[investment dave] 13/2/2017 17:09

Who do you trade with ?

[pottermagic2310] 11/2/2017 19:26

Couldn't get them away last week as some are actual Certificates.
My Broker's doing their best to sort everything out.
Hope to take the opportunity on offer this coming week.
11p is quite alright from my perspective. Anything better is a Bonus. Getting the timing right and missing an opportunity completely will be very, very annoying.

[investment dave] 11/2/2017 14:29

Sol gold 3p hit 36p yesterday!

[hazl] 11/2/2017 14:22

I think gold is going to continue to be good through the next couple of months so reardless of your initial points above potter I think gold stocks should follow through.
If you have the means to sell yours then I don't blame you either.....it's horses for courses.

However,if it's in certificated form, when I traded similarly with TDH for some PGD some years ago they charged me a lot proportionately, I was surprised.
I wonder if share centre do them will have to find out.

I do wonder if we will be able to trade them through London though in time to make a profit.
Mine were over 10p when I bought could have been higher will have to look....

IMO

[andy] 11/2/2017 12:56

potter,

Correct, COFIDE financing to production is not yet in place.

[investment dave] 11/2/2017 12:47

Who are you trading with potter? I thought you were cashing in last week? The price has fallen from 22c to 17c! I'm waiting till London listing now

[pottermagic2310] 11/2/2017 12:07

What financing is in place for the development work this Project needs ?
We're still awaiting the final exploration results & analysis - they haven't been published yet, although I felt it was possible to extrapolate on the partial results published.
Only those latest exploration results will tell us what we need to know about actual Resources, the extent of Mine development needed, a reliable forecast for development Costs and ultimately if the Mine could be cost effective.
We will only see additional COFIDE funding released if all of that looks attractive.

So, I'd like to know what finance is NOW in place ?

This next 3 weeks is critical, it's make or break time for the grand Plan.
I've got everything crossed... even though I'm looking to cash in on the CSE this coming week at the current share price anyway !!!

[investment dave] 11/2/2017 10:10

Need these to list on London now for me before I'm interested. Had best intention to trade trough CSE but it's phone only and my current brokers are closing only over the phone at very best.

[kirk 6] 11/2/2017 09:02

Green everything falling into place now. Potentially huge upside here with finance now in place.