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3/10/17

Minera IRL news

  • It's a Friday night NR (not normally a good sign)
  • It has a nasty word in the title line, "revoke" (shudder and shake, bizworld)
  • But when you get into the NR itself, there's nothing that readers of IKN407 last weekend didn't know anyway, zero frets in fact. A nice quote at the end of it from CEO Benavides too, the whole "quietly confident can't say too much now folks" thing about it*.
Link here, whole thing below:
LIMA, PERU--(Marketwired - Mar 10, 2017) - Minera IRL Limited ("Minera IRL" or the "Company") (BVLAC:MIRL)(CSE:MIRL)(MIRL.CN) announces that Corporacion Financiera de Desarrollo of Peru ("COFIDE") has advised that it has revoked the mandate to exclusively structure the senior debt to a maximum of US$240 million for the development of the Ollachea gold project in Puno, Peru.
COFIDE has changed its strategy to focus on financing small and medium industry ("Mypes").
The Peruvian Government announced on March 9, 2017 an Economic Impulse Plan that will prioritize the credit for the Mypes through COFIDE, among other measures to boost the Peruvian economy.
The Company is assessing its options to finance the development of the Ollachea Project and has been developing an optimized plan to enhance shareholder value.
Diego Benavides, CEO and Director, of Minera IRL said, "We are confident of being able to obtain the necessary investment to develop Ollachea on shareholder-friendly terms. We anticipate being able to bring news of further developments to the market in the near future."

*With good reason, too.