IKN

Here’s what SP Angel, a smarter than the average bear Brokerage in London, had to say about Team Hodges’s latest mudsling this morning:

• The mudslinging continues:
• The board of Minera IRL Limited have issued what in our opinion is yet another misleading statement attacking Diego Benavides.
• The company report that they have filed a criminal investigation into
  the activities of the President of the subsidiary company Minera IRL SA
  in connection with the $70m bridge loan provided by COFIDE.
• The investigation relates to a payment made to the structuring agent
  “Sherpa” and paid through a US bank as previously reported by the
  company.  The structuring fee was around $2.1m plus a 0.9% nsr and 11.6m
  shares.  It is our professional opinion that this
  is a fair fee for a structuring agent and the payment through a US bank
  indicates to us that the payment was part of a transparent and fair
  business transaction.
• Moreover, the company, Minera IRL Limited, under Daryl Hodges has stated
  that the financial statements of the company and related companies are
  in accordance and full compliance with transparency and good governance
  rules.  This was also confirmed by the lender
  COFIDE.
• The statement by Minera IRL Limited bears the name of Eric Olson, the
  company coo, though Olson is not a director.  We believe through
  conversation with company employees that Mr Jamie Pinto, the
  non-executive chairman, is the real inventor of these press releases
  and we wonder why his name or the names of any of the other directors
  are not attached.    
• It may be interesting to note that certain allegations were made against
  Jamie Pinto, a lawyer in Peru, by a Peruvian congressional committee
   in connection with a multi-million dollar corruption and use of insider
  information.
• See this link:
  http://incakolanews.blogspot.co.uk/2015/09/the-talented-mister-pinto-from-ikn-333.html