IPT, MIRL
Impact Silver aka IPT announced that they have completed the purchase of the producing Plomosas Zn/Pb/Ag mine in CHihuahua, Mexico, in a move designed to transform them for a steady state operation working their holdings in the nearby Royal Mines of Xacualpan into a growth story. From what I have been able to gather, Plomosas has been plodding along, making money only because the ore is high grade. (The former owner, CLZ.AX, reported a JORC mineral resources1 of 215kt @ 13.5% Zn, 6.3% Pb, and 34.0 g/t Ag (indicated), and 772kt @ 13.1% Zn, 3.0% Pb, and 19.0 g/t Ag (inferred), at a 3% zinc cut-off as of December 2021.)
IPT's idea, as they are cashed up, is to upgrade the mine and mill with a mind to increase production. As well, the property has barely been explored, so they intend to immediately get to work both extending known mineralization and testing the many prospects on the property. Notably, some of these prospects features Au/Cu mineralization.
My main concern remains how badly the 12% net profit interest ("NPI") royalty CLZ got as part of the deal will impact the profitability of the operation.
Message 34247528
Minera IRL aka MIRL has announced that they have applied for a Management Cease Trade Order because they were unable to file their financials on times, The reason given is that the auditors want more information. One can't help but wonder if it's because the auditors have uncovered the unsavoury practices used by this duplicitous management team.
Message 34247563 |
