Minera IRL Limited T.IRL

rather see them hold on for better market conditions

[dynarod]

they have cash circa 6 mill + money from the bolivian props - i would rather see these guys hold off until market conditions improve.  The stress point is they need to roll 30mill by july 15.  if gold can rally which may or may not happen then they would be out of the wood shed.  Capex is low for a good grade mine so lets just hope they do not give this company away like CGJ just did to Aurico.  Thats was brutal they gave 60% of the company which = about 3 milllion open pit oz away for 27 mill.

[dynarod]

typo sorry meant peru producing asset not bolivia thinking about ORV instead

[dynarod]

death spiral potentially, its the 30 million debt that needs to be rolled in june 15 that is holding this back.  They need to close finanacing for the complete CAPEX otherwise it will become a serious issue and the market right now is a lenders market so the terms are not great at all.  Bad timing i say.  Be great if they could pay down the 30 mill and just wait it out until the

[EdgarL]

Macquarrie is the lender and they've shown they'll keep supporting Minera IRL.  It wouldn't make sense to lose your money with so much gold in the ground in Ollachea, already permitted with full support of the community.  It'll happen.  Soon I think.  Remember how much the market was in the crapper this time a year ago.  Then once the new year came, it rose

[dynarod]

If i was macquarie i would delay the finance until they have no cash.  not saying that would happen but its buyers market these types of games do happen. GLTA definitely cheap thats for sure

[baystock1]

Financing won't happen at $1200 POG.  The financing needed is $165 million out of which they have an agreement from macquarie for $100 million in debut financing. This leaves $65 million to be raised thru equity financing.  IRL market cap is now $10 million, so this aint going to happen any time soon. Only option is to rollover the $30 million debt that is due this june and wait for

[EdgarL]

The financing discussions are with other parties and are for amounts higher than this.  The plan is to get financing which may or may not include the $30 million debt and then sometime after (no hurry for this) financing is done and share price is much higher, there will be some equities issued.  

[Gabriellla]

they'll be able to roll it- but at a price to shareholders.