No wonder he wants to gag free speech, what with it interfering with his criminal activities and shining the light on the truth of the matter. Anyway, here's the NR:
LIMA, PERU--(Marketwired - Sep 21, 2015) - Minera IRL Limited ("Minera IRL" or the "Company") (IRL.TO)(MIRL.L)(MIRL.L) announces that the Company has advanced the independent investigation as described in the 24 August 2015 Press Release and, as a result, has started the process of dismissing Mr. Diego Benavides, the former interim CEO of the Company, from his role as President and General Manager of the Company's two Peruvian operating subsidiaries, Minera IRL S.A. and Compañía Minera Kuri Kullu S.A. Further, on the advice of Peruvian counsel, criminal proceedings against Mr. Benavides have commenced. Under Peruvian corporate law, the process of removing Mr. Benavides from his controlling position with the Peruvian subsidiaries may take several months; however, in the interim, to the extent possible, the Company is taking steps to safeguard its assets in Peru.
Following this temporary compromise of control within the Peruvian subsidiaries the Company requested a precautionary suspension from trading on AIM. The suspension will remain in place until such time the Board is satisfied that appropriate control has been re-established. The Company will provide updates on the management of the two Peruvian subsidiaries as they become available.
The lower gold price in 2015 has adversely affected the profitability of the Company's low-grade Corihuarmi mine, which has been in operation since 2008, but is nearing the end of its mine life and has imposed further stress on the Company's financial situation, particularly its working capital position. The board is currently evaluating alternative scenarios for the mine in advance of discussions with its lenders. The Company expects to make a further announcement in the near future.
About Minera IRL Limited
UPDATE: Or in the words of one unsolicited Canada-dwelling mailer this evening:
What this says to me is, "don't ever invest any money with anyone even vaguely associated with these people ever again, because they will hold your money hostage while they sack the company and try to jail its respected local manager."