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10/22/15

Minera IRL(MIRL.L) (IRL.to): Insight on the perversity

To give readers of this humble corner of cyberspace an idea of just how crazy, perverse and self-serving the current board of directors is, consider just some of the happenings in and around the company yesterday.

As a matter of fact, the company's non-executive chair, Jaime Pinto, spent all yesterday morning phoning round the export businesses in Peru, trying to find the gold that his company was selling. His objective was to block the export and stop the sale. This is because he wants his company to have the insolvency problems that were mentioned in the NR yesterday.

If you wanted  a better example of a board of directors deliberately trying to drive its company into the ground it would be difficult to imagine. Which is why, of course, the EGM has been called by the group of concerned shareholders and why this current band needs to be kicked out. That EGM will be November 26th, by the way.