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3/28/16

The two best bits from today's Minera IRL news release

There are two best bits, the best bits are two:

1) Those who followed this story last year are bound to remember how the usurpers in Team Hodges claimed that the delay to the filing of the financial reports was due to Diego Benavides hiding things, and corruption and refusing to co-operate and all types of vitriolic attacks against the person who was stopping them from asset-stripping the company and selling the Ollachea project to a ready-and-waiting third party (juicy commissions guaranteed). Here we are in March 2016 and the reason for the non-filing is now, "... uncertainty about the costs of eventual closure of the Corihuarmi mine in Peru, and related matters".

Ain't that cute? If you can't read between the lines on this one there's little hope for you, but just in case you need a second hint as to who has won out in the internal fight...

2) Check out this photo of the famous press conference held by Jaime NOT HODGES! Pinto and his cohorts, a presser we featured in this post on the day of the gig, November 18th.


With the exit of Eric Olson announced today, all five of the Minera IRL Ltd people who were at that presser on November 18th no longer work for Minera IRL, all have "been resigned" from the company. Now do you get the picture?

Here's today's press release, read and enjoy, we're darned close to getting all this mess sorted out now. Bye Bye Team Hodges, thanks for all the IKN posting opportunities.

LIMA, PERU--(Marketwired - March 28, 2016) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL) is pleased to announce the release of its delayed June 2015 interim financial statements, and the appointment of Mr. Francis O'Kelly as a non-executive director of the Company with immediate effect. The company also announces the resignation of its Chief Operating Officer, Mr. Eric Olson.
Financial Statements
As reported previously, completion of the June 2015 interim financial statements was delayed because of uncertainty about the costs of eventual closure of the Corihuarmi mine in Peru, and related matters. An international consulting engineering firm retained by the board to review these matters has completed its work and issued its report, and the findings have been reflected in the June 2015 interim financial statements. These statements will be released today and posted to the company's website at www.minera-irl.com and within the Company's SEDAR profile at www.sedar.com.
Directors and Officers
Mr. O'Kelly has an extensive background in Mining and Mining Finance. In his early career he worked in mines in Central and South America initially as a shift boss and ultimately as manager of a large gold mine. He then transferred to the banking sector and was appointed VP Mining at J P Morgan. He subsequently co-managed a mining investment house and ultimately worked on M&A mining projects for Standard Bank. He currently runs his own company dedicated to consulting to the mining sector. Mr. O'Kelly holds an honors degree in Mining Engineering awarded by the Royal School of Mines, Imperial College. He is a fellow of the Institute of Mining & Metallurgy, Chartered Engineer and Associate of the RSM.
In addition, the company reports that the Chief Operating Officer, Mr. Eric Olson, has tendered his resignation with effect from 31 March 2016. The board wishes to thank Mr. Olson for his valuable contribution during his time with the company. The board is in the process of considering candidates to fill this role and other senior roles in the company.