start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

11/11/15

On due consideration

There are a whole bunch of accusations and serious charges of misrepresentation and cover-ups made in the Minera IRL SA (i.e. by Team Benavides) news releases today, all of which support their call to kick out the current board of directors (i.e. Team Hodges). 

In the end it gets to the point where you wonder how many lies you need to hear from Team Hodges before you realize the simple truth, that they're liars? Me personally, my BS meter is set on sensitive these days and I only need to catch a management team in one lie just once to walk away from them forever, but here you have a whole catalogue of BS to choose from.

But on due consideration, taking them all and weighing them against each other, the one that shouts loudest to me is this one from the Spanish language NR (translated into English by your author here):
It is FALSE that the information to publish the Financial Statements was not submitted. Minera IRL S.A. sent the documents on August 06, 2015 to the CFO, Brad Boland, who resigned his post on September 28, 2015, irrevocably and immediately, leaving the Company without the signature requested by the TSX for its publication. MIRL Board changed the facts. It informed on September 29 that there was a delay in the publication because the documents were not received, and on October 01 it informed on the CFO resignation, three days after the date it happened.
Now Team Benavides says it has documentation to back up that statement. If so, there's no more damning indictment of Team Hodges possible than to say they've lied directly into the faces of the TSX and AIM by saying, time and time again, that they couldn't file their financials due to that "compromise of control" in the subsidiaries. According to that statement above it's pure BS and if that's true, Hodges and his friends are going to be in a LOT of trouble in Canada and London, not just in Peru.

I look forward to hearing more about this particular point. Soon.