Minera Share Discussion Threads

[annette42] 28/12/2020 13:34

Im sorry andy but minera is talking sh1t as per usual..... No deal happened minera irl still owe cofide $70 million dollars so the arbitration win and the 2 years it took were a total waste of time...... They now have to finance a project in debt no one will touch it COFIDE WON Minera irl and Diego lost NOTHING has changed andy HUGE DEBT still and NO arbitration money.... The only thing that has happened in the last 2 years is Diego the scumbag thief raking in his HUGE salary........ Minera irl never won a damn thing please wake up ans smell the roses 2021 will be a terrible year for minera irl cheers

[andy] 27/12/2020 11:36

Minera


If the gold price moves over $2,000 Oz, which is certainly a possibility looking at the US dollar weakness, then Ollachea should be a whole lot easier to finance.

[minera] 27/12/2020 05:21

Merry Xmas Andy and all others on here even
Pottermagic..㈶1;
2021 will be a great year for Minera IRL
Positive vibes peoples..!let’s all move on from the past and look forward to future.

[andy] 24/12/2020 10:50

MERRY XMAS to all here.

Let's hope 2021 will be golden for us all...

[annette42] 23/12/2020 21:12

Down again 😂😂😂😂8514;😂ԅ14;😂 a 10c drop nearly 50% since the so called deal 😂😂😂😂8514;😂ԅ14;😂what a sh1t stock come on scumbag are u panicking yet diego u piece of sh1t 😂😂😂😂8514;😂ԅ14;merry xmas 😂😂😂😂8514;😂

[schnozzle] 19/12/2020 11:18

You are such a repetitive BORE!! Do you have any other words in your pathetically tiny vocabulary?

[annette42] 19/12/2020 10:22

Hey scumbag diego hows the financing coming on u lowlife still racking in your huge salary i see what u gonna do prolong this now for another year or so but still take your huge wages 😂😂😂😂8514;😂ԅ14;😂😂;hows the community spending money on them too 😂😂😂😂8514;😂ԅ14;hows the share price on a year low i see u thief liar scumbag

[andy] 16/12/2020 21:02

Minera IRL Announces Results of Annual General Meeting
AGM Results
CSE: MIRL
www.minera-irl.com
Mr. Gerardo Perez Delgado reports:

LIMA, Peru, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”; or the “Company”;) (BVL:MIRL) (CSE:MIRL) is pleased to announce the results of its Annual General Meeting of Shareholders held Monday, December 14, 2020, in Vancouver, British Columbia, at which shareholders voted overwhelmingly in favor of all items put forward by the Board of Directors and Management.

At the meeting, the Company’s shareholders elected the two incumbent directors – Michael Iannacone and Santiago Valverde - appointed PKF Littlejohn LLP as the Company’s auditor and authorized the Board of Directors to set the auditors’ remuneration, approving each resolution by the vote of more than 95% of those present in person or by proxy.

Diego Benavides, the Company’s Chief Executive Officer, said “we are grateful for the clear message of support from our shareholders as we transition back to advancing our project at Ollachea. We are looking forward to next steps and the opportunity to demonstrate our gratitude for the support”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Minera IRL Limited

Gerardo Pérez [phone]
President

Diego Benavides [phone]
CEO and Director

[karzy] 15/12/2020 04:37

AGM today!

[andy] 14/12/2020 19:37

To be fair, the price of gold has fallen, it's Canadian tax loss selling season, and many of the gold juniors have fallen within the last month.


Let's see what happens in January when they start buying again...

[karzy] 05/12/2020 20:37

Don't think we'll see much guidance on MIRL from Turner this next week or two. He's in a full scale war with Stockhouse members on the Novo res site. All sorts of sordid accustions flying about and solicitors involved as well. Diego will be happy guns are pointed in another direction.

[karzy] 02/12/2020 23:50

Make that C$39k not 27

[karzy] 02/12/2020 23:37

More director buys (x2). C$27k purchases yesterday.

[andy] 02/12/2020 11:06

MIRL - 197.0 0.15 · 0.16 9.5 0.16 +0.005 +3.2% 413.1 66


197,000 bid at 15 cents, someone's putting up a defence to taking it lower...

[karzy] 30/11/2020 17:03

Turner's put an "unwelcome hold" on MIRL in the latest IKN weekly,

It's a wait and see then, so nothing's really changed.

[andy] 30/11/2020 15:39

annette42,


The price is 14.5 cents, not 9c

[annette42] 30/11/2020 15:33

Why great news!!!!!! Idiot come on 9c i told you andy u didnt listen 🙄🙄😂😂

[vish65] 27/11/2020 17:22

Great news 👍

[karzy] 27/11/2020 17:01

From their latest newsletter.

DO YOU PLAN TO RE-LIST ON LONDON’S AIM MARKET?
/
We have not forgotten AIM or our loyal U.K. based shareholders. Our plan two years back was to secure financing for Ollachea
then re-list, but unfortunately, this did not happen. We cannot give you a definitive time frame yet, but it is something we are
working towards and will try to effect in 2021, now that the COFIDE negotiations are behind us

[...]

[andy] 24/11/2020 08:44

fezley,


A nice RNS, finally! So, debt, and an equity raise to come then!


I wonder if they'll look to relist on AIM before that happens? That would increase their options for a raise although city institutions can participate anyway I guess.


I would like to see them list on the TSX now, not sure too many institutions will invest in an CSE listed company.

[fezley18] 23/11/2020 14:17

LIMA, Peru, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”; or the “Company”;) (BVL:MIRL) (CSE:MIRL) expands upon the path forward following its recent settlement agreement with Corporacion Financiera de Desarrollo (COFIDE).

While the agreement with COFIDE, which was signed at midnight on November 10, 2020, is simple, it took extraordinary effort to complete. Dealing with government bodies is never quick or easy, but dealing with them during COVID-19 and the political roller coaster that has been the Peruvian Government for the past five years has added difficulty and delay to an already unpredictable negotiation. Since COFIDE made the Bridge Loan, Peru has had five new Presidents and these changes at the top have had a profound trickle-down effect on COFIDE’s Board of Directors, management and priorities.

Without the settlement agreement, Ollachea could not be financed. It was pledged as security for the Bridge Loan and COFIDE put the Bridge Loan into default status in 2017. The arbitration award did not fix this - when the arbitration panel determined that COFIDE’s decision to abandon its mandate to finance Ollachea was wrongful, it expressly declined to make a finding affecting the Bridge Loan because the Bridge Loan could only be adjudicated by the courts of New York State. In addition, COFIDE promptly asked the Peruvian courts to ‘annul’ the arbitration award, which application is only now being dismissed pursuant to the settlement agreement. So even with the arbitration award in hand, the Bridge Loan remained in default and the request for annulment remained pending, and financing Ollachea was hostage to the potential for years of expensive litigation in New York and Peru. This roadblock has finally been removed and, for the first time in years, Minera IRL can turn its collective energy back to the task of advancing Ollachea.

Advancing Ollachea

The initial effort to advance Ollachea is focusing on two fronts – updating the technical reports, construction plans and budgets and raising money. For the benefit of our newer shareholders, here is a recap of the evolution of the project:

The Definitive Feasibility Study for Ollachea, based on 86 thousand meters of drilling, was completed in November 2012.
In 2013, the Company completed a 1,234-meter tunnel to serve as the primary access for the mine and as a platform for further exploration.
The Environmental Impact Study (EIA) was approved and the Construction Authorization was obtained in 2013 and 2014.
In 2014, Mining Plus, an international mining consulting firm with extensive experience in the proposed underground mining method, updated the mine design. As a result:

-- Total gold production increased to 930,000 ounces (from 921,000 ounces).

-- Average annual production of 100,000 ounces over the first two years (up from 70,500 ounces).

-- Average annual production unchanged at 100,000 ounces per year over an initial nine year mine life.

-- Initial capital cost of $164.7 million (down from $177.5 million).

-- Average total cash cost of $587 per ounce (slight adjustment from $583 per ounce).

-- An after-tax NPV, at a 7% discount rate and gold price of $1,300 per ounce, of $181 million (up 17% from $155 million).

-- IRR of 28.2% (up from 22.1%).

-- Pay-back period decreased to 3.1 years (from 3.7 years).
In 2016, a new 5,421 meter exploration underground program at the eastern end of Minapampa showed that gold mineralization continues 500 meters to the east and remains open to the east and at depth. These 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 (these 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).
In 2019, the EIA was renewed indefinitely.
Despite the considerable financial constraints caused by the dispute with COFIDE, the Company has continued to push forward with the technical work, investigating various options for project execution and a practical and optimized project start up.

The Company estimates that it will cost approximately USD $800,000 to complete the technical work, including ongoing support for project financing. This will lead into the detailed engineering, execution planning and contractor selection, as well as putting experienced staff on the ground to start the mine. The recent resolution of the COFIDE dispute allows the Company to re-direct cash flow away from legal expense and back to project start up and execution planning and the Company believes that it can fund this work out of ongoing revenue from Corihuarmi.

Financing

During the second half of 2019 and the first few months of 2020, the Company was actively contacting potential financing parties (banks, debt funds and other lenders) in an attempt to resolve both financing and the COFIDE situation in a single sweep. Unfortunately, these markets were closed until the situation with COFIDE was resolved. However, with the COFIDE settlement in the rear-view mirror, the Company has re-opened its stalled dialogue with these parties and it is already seeing progress - two of the fourteen companies that have signed non-disclosure agreements have already begun a due diligence review.

Going forward, in addition to renewing discussions with financing parties from last year, the Company has opened discussions with a North American capital markets specialist firm with a view to executing on a combined public equity and debt transaction.

Diego Benavides, the Company’s Chief Executive Officer, said “we have a proven record of accomplishment with Corihuarmi and I have every confidence that we can do it again with Ollachea. We are committed to getting this mine right the first time, using the best international experience available in underground mining for project oversight combined with the practicality and affordability of Peruvian based professionals and the continued support of the Ollachea community”.

[andy] 23/11/2020 09:33

IKN says we MIGHT get news later this week.