A piece of classic cinema:
Dedicated to anyone who would dare to make fun of the Dark Count.
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A piece of classic cinema:
- For a company apparently controlled by a Peruvian lawyer, they have a very poor understanding of Peruvian law. Either that or they're deliberately trying to hoodwink the world into believing things about Peru law procedure that are simply not true.
- Did you notice that nobody has the guts to sign off on that NR? Yup, not one "executive" on Team Hodges puts their name to today's message (you just get contact mails for the CFO and COO). That's very significant.
I assume Diego Benavides is a member of THE Benavides family. The people at IRL must be living in some sort of alternate universe to think they can win a fight with him (them).
*due to make their first appearance in court on October 6th
Update: Source A now tells me the announcement might come on Tuesday rather than Monday. All the rest is solid. TY again, A.
...that even Continental Gold (CNL.to) managed to rally back up to $2. For a few minutes anyway.
Humanity's capacity to prefer hope over cruel reality never ceases to impress me.
"I said it two weeks ago, said it last week, saying it again today. I'm more bullish on gold stocks than I've been for a very long time."
“Respect the game, respect others – that’s what I always learned in sports. Whatever background or whatever you are, it doesn’t matter. Treat everybody the same, that’s how it should be.”
IKN salutes Yogi Berra. The world is a better place thanks to his stay. Rest in peace, sir.
Read it yourself, no extra IKN commentary necessary on this one:
"It's my contention that things have to get worse in the copper space before they get any better and that probably means a few headline-making corporate casualties before the market turns around. One of the prime candidates for bankruptcy protection is the highly leveraged CS.to so you may think this weekend's 76c price is wildly cheap. I think the cheap is going to get a lot cheaper."
No wonder he wants to gag free speech, what with it interfering with his criminal activities and shining the light on the truth of the matter. Anyway, here's the NR:
LIMA, PERU--(Marketwired - Sep 21, 2015) - Minera IRL Limited ("Minera IRL" or the "Company") (IRL.TO)(MIRL.L)(MIRL.L) announces that the Company has advanced the independent investigation as described in the 24 August 2015 Press Release and, as a result, has started the process of dismissing Mr. Diego Benavides, the former interim CEO of the Company, from his role as President and General Manager of the Company's two Peruvian operating subsidiaries, Minera IRL S.A. and Compañía Minera Kuri Kullu S.A. Further, on the advice of Peruvian counsel, criminal proceedings against Mr. Benavides have commenced. Under Peruvian corporate law, the process of removing Mr. Benavides from his controlling position with the Peruvian subsidiaries may take several months; however, in the interim, to the extent possible, the Company is taking steps to safeguard its assets in Peru.
Following this temporary compromise of control within the Peruvian subsidiaries the Company requested a precautionary suspension from trading on AIM. The suspension will remain in place until such time the Board is satisfied that appropriate control has been re-established. The Company will provide updates on the management of the two Peruvian subsidiaries as they become available.
The lower gold price in 2015 has adversely affected the profitability of the Company's low-grade Corihuarmi mine, which has been in operation since 2008, but is nearing the end of its mine life and has imposed further stress on the Company's financial situation, particularly its working capital position. The board is currently evaluating alternative scenarios for the mine in advance of discussions with its lenders. The Company expects to make a further announcement in the near future.
About Minera IRL Limited
UPDATE: Or in the words of one unsolicited Canada-dwelling mailer this evening:
What this says to me is, "don't ever invest any money with anyone even vaguely associated with these people ever again, because they will hold your money hostage while they sack the company and try to jail its respected local manager."
UPDATE: Keep coming over guys, all welcomed.
But Kirkland Lake Gold righted itself and is now thriving amid a much weaker gold price. And it isn’t alone. Other small and medium-sized Canadian gold producers in the region, such as Detour Gold Corp., Lake Shore Gold Corp., Claude Resources Inc. and Richmont Mines Inc., have staged impressive turnarounds after being left for dead by many investors two years ago