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Gold/Mining/Energy : Minera IRL

MIRL.CN 0.0150

0.0%

Mar 28 9:52 AM EDT

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To: wrkoutmn50 who wrote (1330)	12/5/2023 6:58:38 PM
From: wrkoutmn50	Read Replies (1) of 1343

How did we go from this seeking alpha article 2 years ago to where we are now? ConclusionI believe Minera is a strong buy for several reasons. Based on 2021 cash flow, Minera appears undervalued by a factor of 17. Minera’s operations have consistently delivered over $500 million in gold since 2008 and now projections are increasing sharply due to increased grades indicated by recent drilling in the Corihuarmi open pit operations. Projected production for Ollachea also increased dramatically by the PEA by Mining Plus. I believe it is significant to understand that Rio Tinto is the major shareholder of Minera. Minera’s ongoing production and cash flow greatly reduces potential risk of inadequate capital and I believe management is well seasoned and experienced in all aspects of their operations, as well as politically aligned with their immediate and interested community. Financing the new processing facility for the high-grade Ollachea mine is not expected be challenging because the Corihuarmi operations should be more than adequate to finance the new 1,500 ton per day facility and Minera has certainly proven their capabilities and their claims as a seasoned and successful gold miner. Minera may not be known by many investors today, but with production this large and consistent, and now with the new prospects of dramatically increasing production, word is sure to get out. Rio Tinto and other large and savvy miners are likely to be watching Minera and could be ready to move quickly to acquire an asset that in my view is currently undervalued and that could greatly increase in value in the near future as Ollachea readies to substantially ramp up gold production.

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