IKN

And thereby hangs a tale

Minera IRL (MIRL.cse): Time to trigger the Ethics Hotline

Fellow Concerned Shareholders of Minera IRL (MIRL.cse), over the last three weeks we have allowed respectable time for the board of directors of Minera IRL to conduct its internal audit of the company, in light of overwhelming evidence of corporate malpractice at the hands of MIRL CEO Diego Benavides. However, time is now running short and the suspicions are now strong that the internal inquiry was just another cover-up exercise. It is now late October and, with AGM materials set to be published soon, the lack of word from the board regarding results of its inquiry force us to conclude that the audit was just another strategy to delay and obfuscate, presumably trying to get the MIRL AGM agenda published without any controversial items included.

This is unacceptable. Obviously, CEO Benavides (who is also a director) wants everything to disappear, but we also know the MIRL board is populated by personal friends of Diego Benavides and his live-in. The other members of the MIRL board have both motive and ability to cover up wrongdoings at the company and, as it’s increasingly obvious that the board is taking the route of obfuscation, we the CS are now obliged to force these people to face reality and explain what’s been happening to the money inside the company. Fortunately, we have the MIRL ethics hotline whistleblower facility to help us and here’s what to do:

  • Go to the MIRL ethics page. The link is here.
  • Click on or copy the e-mail address (or telephone number) of the company ethics hotline, integrityhotline AT dsacorp.ca
  • Contact the whistleblower hotline. Identify yourself as a shareholder. Make your ethics-based whistleblower statement.

The ethics hotline, run by a third party, has an established role in the MIRL corporate bylaws. When a shareholder makes an official complaint, the company MUST acknowledge the communication and then MUST investigate and reply with its findings to the shareholder. It is a powerful tool that we, the shareholders of MIRL, can use against the management and board of directors of the company and will certainly stop them from 1) ignoring us any further and 2) putting together the AGM agenda that suits them, rather than us.

IKN encourages ALL INDIVIDUAL SHAREHOLDERS TO MAKE SUBMISSIONS TO THE MIRL ETHICS HOTLINE. The arrival of a flurry of official complaints must be addressed and the only way to make these disreputable figures comply is by the law. Your submissions can be long or short, but make sure you clearly state that you are a shareholder of the company when doing so, after that they have to act. We can make them tell us the truth, so let’s do it.

4 Comments

    Done.

    They cannot ignore the AGM-vote: this is the chance to be heard.

    Reply

    DSA is just a third party administrator of the hotline, allowing for the promised anonymity, not an independent ethics investigator – Whistleblower complaints go to the Audit Committee Chair to investigate

    Reply

    There is no point voting against the current directors without someone proposing an alternative dissident slate of directors. I hope someone is working on an alternative board proposal

    Reply
    Tester of the Test Mars (waiting for Musk) 29/10/21 8:02 pm

    Just testing on a older blog.
    To see how this work.
    T

    Reply

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