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3/30/16

Minera IRL (IRL.to) report in today's Peru bizpress (good news for shareholders)

Today, Peru's main bizmedia paper 'Gestión' ran a report on the ongoing Minera IRL saga, a photo of the dead wood version right here:



This is how the main part of that above translates:

Minera IRL will look for more gold in Ollachea and its return to the stock market

Favourable winds and blowing for Minera IRL. Sector sources told Gestión that the relationship between the financial entity Cofide and the community of Ollachea (Puno) are still in good conditions after the situation generated in 2015 by the directorate of Minera IRL and the ex-presidents Daryl Hodges and Jaime Pinto, both of whom having been voted out (of the company) with more than 93% of shareholder votes against them. It is also understood that, in compliance with the mandate subscribed with Cofide, Minera IRL S.A. expects to begin an additional drilling program in Ollachea in May in order to increase its gold resources.

Return to the stock exchange
Recently, the Minera IRL Ltd parent company stopped trading on the London AIM exchange, which will allow the company a significant cost saving as the exchange is an expensive one in which to list. Regarding this, the company last week sent a notification to the Lima Market Superintendency in which it reiterated its solicitation for an extra 30 days in order to evaluate its return to the Lima Stock Exchange (BVL).

According to information supplied to Gestión, Minera IRL expects to maintain its BVL listing and to re-list in Toronto in April, the reason behind the aforementioned solicitation. 

The note
Activities
Diego Benavides continues as President of Minera IRL S.A. and Kuri Kullu Mining Company S.A. 
Also, Cofide is still interested in completing the mandate for the U$240m debt financing package. We were told, "The company is looking to create value for its shareholders".