*** IMPORTANT - PLEASE READ ***
On July 27, 2021, Minera IRL announced three new executive appointments. Apparently this was done to address the concerns of Haywood (who had been retained as a financial advisor) in order to attract the funding required to advance the Ollachea project. Instead of allaying governance-related concerns, these appointments have ratcheted up the concerns of shareholders to a new level given the alleged lack of qualifications of the appointed personnel.
In response to these concerns, Mark Turner, who runs the Inca Kola News blog site has begun organizing a group of concerned shareholders and is in the process of finalizing a strategy to address the above and other concerns with the ultimate goal of displacing the current management in an effort to extricate at least some value for shareholders. If you are a shareholder and are not on the distribution list for the Concerned Shareholders group, you are able to join by sending an email to Mark at: renrutkram@yahoo.co.uk.
Overview
Minera IRL is a junior gold producer with projects in Peru. Corihuarmi is an operating mine in Peru that is currently producing gold per year, and helping to fund the company's exploration and development efforts. Ollachea, an advanced project, is an orogenic gold deposit located in Peru. Drilling to date has shown over 2.5MM oz Au (MI&I). There is potential to expand the deposit considerably. The company has driven a 1.2 Km tunnel to access the deposit, enabling deeper drilling that has not been possible due to terrain.
Advanced Projects
- Corihuarmi: Peru, producing gold, US$383 cash cost, 2017
- Ollachea: Peru | 2.5MM oz Au (MI&I) plus Concurayoc's 0.9MM oz Au Inferred | BFS complete | 4Q18 planned production start.
Resources
Minera IRL web site
Corporate Presentation
Ollachea: Puno Region - Site - Mine Plan - Schedule (old) - Magnetics - Economics - Costs
Charts: Daily - Weekly
Videos: Mineros do Ollachea Part 1 - Part 2 - Part 3 - Slide Show - Area Artisanal miners
Images: Ollachea 3-D
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