Minera IRL To Begin Trading On Canadian Securities Exchange
LIMA, PERU--(Marketwired - Feb. 2, 2017) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL) (CSE:MIRL) (CSE:MIRL.CN), the Latin American gold mining Company, is pleased to announce that it will begin to trade on the Canadian Securities Exchange ("CSE") from February 03 of 2017.
The Ontario and British Columbia Securities Commissions in January lifted cease trade orders after the Company complied with all requirements. Also in January, Minera IRL relisted on the Peruvian stock market, the Bolsa de Valores de Lima, as part of its efforts to maximize value for shareholders.
"We are very pleased to return to trading in Canada, to provide ease of trading for our Canadian shareholders. Our intention is to resume trading in London soon," said Diego Benavides, Chief Executive Officer and member of the board of directors.
The Company is in discussion with a London based financial adviser, whom we expect to appoint to explore the options for re-listing the Company in London and then advising and assisting with the listing process. We will update shareholders on this appointment, once we have agreed to terms. The Company is currently in the process of engaging a capital markets advisor firm in Canada. Kallpa Securities acts as the capital market advisor in Peru for the Latin America region.
Shareholders in Canada and the UK seeking additional information about trading their shares on the CSE are advised to consult directly with their broker.
At the Corihuarmi mine, gold production in the fourth quarter was 6,149 ounces compared to 6,036 ounces produced in the same period of the prior year. Corihuarmi has been in production for eight years and produced 273,740 ounces of gold, versus the feasibility study projection of 112,000 ounces over a four year mine life. Final results of the exploration drilling program are expected near the end of February.
Final results of the 5,200 meter drill program in the Minapampa Far East zone at the Ollachea project are expected to be released in the first quarter.
The pre-engineering studies for the Ollachea project are underway following the efforts to optimize the cost of the CAPEX. The report is expected in the first quarter of 2017.
During 2017 the Company plans to continue to reduce costs, increase efficiencies, and solidify its corporate financing.