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 marketFavourable 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 exchangeRecently,
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
ActivitiesDiego 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”.