Between late yesterday and early this morning, the first trades of Minera IRL have gone through since its long hiatus was brought to an end by the re-listing of shares on the Peru stock exchange (BVL). So far a modest 1.2m shares have changed hands so it’s a bit early to draw firm conclusions, but the current price of the stock is U$0.165. That’s the equivalent of CAD$0.21 approx, which compares to the stock’s last traded price of CAD$0.07 in Canada before the Daryl Hodges scamsters tried to steal the company from its shareholders.
This 200% price rise is also the reason why the last board of rip-off merchants, led by the Eagle Mining trio of Weyrauch, Bee and Schafer and abetted by Bavin and O’Kelly, were so slow about getting the stock re-listed but so so keen on getting the chance to distribute over 115m new shares to the people of their choice.
But fortunately, instead of being ripped off shareholders decided to kick out the board of scamsters and now under the guidance of Diego Benavides they’re getting the upside they deserve.
UPDATE: Minera IRL finished the day in Lima at U$0.148 but the fun thing was the volume, over 2.5m shares traded. Also interesting was the way stockbroker Seminario SAB was phoning round every small holder of IRL they could find, trying to convince them to sell into this opening flush. That’s because Napoleon Valdez was using Seminario SAB to buy hand over fist and get his hands on as many shares as he could.