Minera IRL (IRL.to) (MIRL.L) Team Benavides now has its own website, it’s right here and on it you can read this NR, out early this Monday morning. Very interesting stuff about the Controller.
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Minera IRL
SA Reports a Declaration by the Community of Ollachea and on the Resignation of
Minera IRL Limited’s Financial Controller
SA Reports a Declaration by the Community of Ollachea and on the Resignation of
Minera IRL Limited’s Financial Controller
Lima,
16th November 2015: Minera IRL SA is responsible to report to shareholders the
following developments:
16th November 2015: Minera IRL SA is responsible to report to shareholders the
following developments:
·
An announcement was sent by the Ollachea Community
reporting that the Ollachea Gold Project is at serious risk of being paralyzed
indefinitely; and
An announcement was sent by the Ollachea Community
reporting that the Ollachea Gold Project is at serious risk of being paralyzed
indefinitely; and
·
The resignation of the Financial Controller, Carlos
Ruiz de Castilla, who was based in Canada and working for Minera IRL Ltd
reporting to the current Board. He
resigned for ethical reasons, disputing the veracity of press releases issued
by the parent Company Minera IRL Ltd
The resignation of the Financial Controller, Carlos
Ruiz de Castilla, who was based in Canada and working for Minera IRL Ltd
reporting to the current Board. He
resigned for ethical reasons, disputing the veracity of press releases issued
by the parent Company Minera IRL Ltd
Announcement
from the Ollachea Community
from the Ollachea Community
The Community of Ollachea, located where Minera
IRL wishes to develop its gold project, delivered a declaration to Minera Kuri
Kullu SA (subsidiary of Minera IRL SA), asking that it be made public. The release expresses their indignation at
the statements and lack of respect by the actual Board of Minera IRL Ltd,
represented by Non Executive President Jaime Pinto.
IRL wishes to develop its gold project, delivered a declaration to Minera Kuri
Kullu SA (subsidiary of Minera IRL SA), asking that it be made public. The release expresses their indignation at
the statements and lack of respect by the actual Board of Minera IRL Ltd,
represented by Non Executive President Jaime Pinto.
Their declaration states that the Community will
take the decision to paralyze the project indefinitely if Mr Jaime Pinto
persists in his false statements and in his intent to divide the Community. They explain that Mr Pinto, exactly as his
predecessor Daryl Hodges, has disturbed the Community peace and shown no
respect by distributing leaflets without reference to the elected authorities
of the Community.
take the decision to paralyze the project indefinitely if Mr Jaime Pinto
persists in his false statements and in his intent to divide the Community. They explain that Mr Pinto, exactly as his
predecessor Daryl Hodges, has disturbed the Community peace and shown no
respect by distributing leaflets without reference to the elected authorities
of the Community.
The leaflet signed by Mr Pinto and distributed
in the Community states the opinion that the Community’s decisions have been
manipulated and is questioning the validity of letters sent by the Community
Board. The Community declaration states
“It is a grave accusation and insult against the dignity of the Community and
we feel absolutely offended by the statements distributed in this document.”
in the Community states the opinion that the Community’s decisions have been
manipulated and is questioning the validity of letters sent by the Community
Board. The Community declaration states
“It is a grave accusation and insult against the dignity of the Community and
we feel absolutely offended by the statements distributed in this document.”
The Board of Minera IRL Limited circulated the
unauthorized leaflets on 11th November, and then on 13th
November announced that it was holding meetings with certain community
members. In the face of this, the
Community announcement demands that Mr Pinto “abstain from speaking about our
Community and making false and misleading statements publically.”
unauthorized leaflets on 11th November, and then on 13th
November announced that it was holding meetings with certain community
members. In the face of this, the
Community announcement demands that Mr Pinto “abstain from speaking about our
Community and making false and misleading statements publically.”
The Community also stated that they wish to maintain the good relations
that they have had for more than eight years with Minera Kuri Kullu SA and that
their Honorary Community Member Diego Benavides be respected. They also ratified their agreement with the
development of a finance package for US$240 million with COFIDE (Peruvian
development bank) in order to build the Ollachea
that they have had for more than eight years with Minera Kuri Kullu SA and that
their Honorary Community Member Diego Benavides be respected. They also ratified their agreement with the
development of a finance package for US$240 million with COFIDE (Peruvian
development bank) in order to build the Ollachea
Gold Project. The Community
stated its support for the appointment of the new Board at the EGM on the 26th
November.
stated its support for the appointment of the new Board at the EGM on the 26th
November.
Resignation
of the Financial Controller for Minera IRL Limited, Canada
of the Financial Controller for Minera IRL Limited, Canada
The Financial Controller of Minera IRL Limited
in Canadá, Carlos Ruiz de Castilla, presented his resignation on the 11th
November, after 2.5 years working with the Company. The main reason stated was for ethical reasons and specifically
that he did not wish to be associated with false and misleading information as
presented in press releases by the parent Company, Minera IRL Limited.
in Canadá, Carlos Ruiz de Castilla, presented his resignation on the 11th
November, after 2.5 years working with the Company. The main reason stated was for ethical reasons and specifically
that he did not wish to be associated with false and misleading information as
presented in press releases by the parent Company, Minera IRL Limited.
Mr Ruiz also mentioned undue pressure by the
Board of Minera IRL Limited “I was accused of unduly resisting payments just
because I tried (unsuccessfully) to obtain proper evidence before authorizing a
wire transfer.” Mr Ruiz saw the need to
seek professional advice, receiving the recommendation not to bend to pressures
and if it continued to resign from the position.
Board of Minera IRL Limited “I was accused of unduly resisting payments just
because I tried (unsuccessfully) to obtain proper evidence before authorizing a
wire transfer.” Mr Ruiz saw the need to
seek professional advice, receiving the recommendation not to bend to pressures
and if it continued to resign from the position.
The Controller affirmed that hostilities between
the parent Company and its subsidiaries in Peru had escalated to “all out war”
with unsubstantiated accusations being used by the current Board. Mr Ruiz wrote “I have discussed with two
members of the Board my concerns on several issues, most of which had been made
public through press releases. As a
result, I am suffering from a conflict of conscience, which I find distressing
and which has taken a toll on my health.”
the parent Company and its subsidiaries in Peru had escalated to “all out war”
with unsubstantiated accusations being used by the current Board. Mr Ruiz wrote “I have discussed with two
members of the Board my concerns on several issues, most of which had been made
public through press releases. As a
result, I am suffering from a conflict of conscience, which I find distressing
and which has taken a toll on my health.”
Mr. Ruiz was responsible for internal financial and economic controls
for the Company, and had assumed the responsibilities of CFO, Brad Boland, to
whom he had previously reported, after Mr Boland had irrevocably resigned the
previous 28th September.
for the Company, and had assumed the responsibilities of CFO, Brad Boland, to
whom he had previously reported, after Mr Boland had irrevocably resigned the
previous 28th September.
For further information
please go to : www.minerairlshareholders.com
please go to : www.minerairlshareholders.com