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9/17/19

Minera IRL (MIRL.cse): The BS fud never stops with this story


No sooner than the news hits about Minera IRL's resounding victory in its arbitration with Cofide that the people paid by the liars and thieves at the centre of this story start BSsing the market about how the verdict will be overturned and annulled, or something. They're basing their claims on a NR emitted by Cofide today that, among other things, says they disagree with the ruling and are "evaluating legal action" against it. For your information, I've pasted a copy of the PR below.

Thing is, there really isn't any legal action that Cofide can take and what we saw today was a classic "cover your ass" statement to help quell the questions being thrown at ministers by journalists at Perumin. They were ambushed by reporters at the gate Monday, claimed to know nothing and requested a note from Cofide, which spun the result to within an inch of its life as it tries to get ministers off the hook. Thing is...

1) As Minera IRL correctly stated in its September 16th NR, the final award (over U$34m) is non-appealable. That's it folks, they signed on to this courtroom and now they own it.
2) The "annulment" mentioned in the NR and now being jumped upon by the idiot liars and losers is purely regarding judicial procedure, it has no relevance to the case or its evidence. It's to weed out judicial wrongdoings and every case of this type has such a period in Peru. But it's a wild improbability this one gets thrown out, as the people sitting on this arbitration panel were not a bunch of bumfluff lawyers from some sleepy provincial town. They were Horacio Grigera, Oswaldo Hundskopf and Alfredo Bullard, these people are in the hierarchy of legal power in Lima Peru and have the highest reputations, it would be a near-scandal to see Cofide move to get this thrown out on procedural grounds, they'd be burned at the stake just for trying. 

So please, give it up listening to the people who have been wrong and wrong again about this stock over the years, its gets boring having to fight their lies and BS, just mark them down as the liars and idiots that they are and move on from taking their advice. Cofide will quietly pay, IRL will get the debt financing it requires and IRL is now going to build Ollachea, there's really nothing to stop it from happening any longer. Disclosure: Long and holding every single one of my shares.