Warning (2): mssql_query() [function.mssql-query]: Some character(s) could not be converted into client's character set. Unconverted bytes were changed to question marks ('?') (severity 4) [CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 181]
$sql = "SELECT TOP 90 [Brokerpress].[comment] AS [Brokerpress__0], CAST(Brokerpress.date AS datetime) AS [date] FROM [brokerpress] AS [Brokerpress] WHERE [Brokerpress].[epic] = 'MIRL' ORDER BY [Brokerpress].[date] DESC"
mssql_query - [internal], line ?? DboMssql::_execute() - CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 181 DboSource::execute() - CORE/cake/libs/model/datasources/dbo_source.php, line 190 DboSource::fetchAll() - CORE/cake/libs/model/datasources/dbo_source.php, line 338 DboSource::read() - CORE/cake/libs/model/datasources/dbo_source.php, line 655 DboMssql::read() - CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 643 Model::find() - CORE/cake/libs/model/model.php, line 2031 Controller::paginate() - CORE/cake/libs/controller/controller.php, line 1095 AppController::paginate() - APP/app_controller.php, line 272 AppController::fetch() - APP/app_controller.php, line 320 RssController::all_news() - APP/plugins/profiles/controllers/rss_controller.php, line 128 Object::dispatchMethod() - CORE/cake/libs/object.php, line 116 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 227 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 2]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1052",
"epic" => "MIRL",
"name" => "Minera IRL",
"is_sponsor" => "1",
"international_sponsorship" => ""
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "42895",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ",
"pubdate" => "2012-05-16 11:49:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html",
"description" => "<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html"
),
array(
"id" => "42885",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process",
"pubdate" => "2012-05-16 08:58:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-42885.html",
"description" => "<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html"
),
array(
"id" => "120516mirl4228d",
"title" => "RNS press release - Don Nicolas EIA Permitting",
"pubdate" => "2012-05-16 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/"
),
array(
"id" => "42760",
"title" => "News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1",
"pubdate" => "2012-05-14 15:01:00",
"seftitle" => "minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html",
"description" => "<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html"
),
array(
"id" => "42616",
"title" => "News - Minera IRL: First Chapi Chapi copper drilling programme completed",
"pubdate" => "2012-05-10 15:12:00",
"seftitle" => "minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html",
"description" => "<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html"
),
array(
"id" => "42592",
"title" => "News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly",
"pubdate" => "2012-05-10 08:55:00",
"seftitle" => "minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html",
"description" => "<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html"
),
array(
"id" => "120510mirl0318d",
"title" => "RNS press release - Financial Results for Q1",
"pubdate" => "2012-05-10 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/"
),
array(
"id" => "120412mirl2450b",
"title" => "RNS press release - Exercise of Options and Total Voting Rights",
"pubdate" => "2012-04-12 15:34:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/"
),
array(
"id" => "120404mirl7908a",
"title" => "RNS press release - Grant of Options",
"pubdate" => "2012-04-04 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/"
),
array(
"id" => "41076",
"title" => "News - Minera gets £1.1 million as directors exercise options",
"pubdate" => "2012-04-03 09:12:00",
"seftitle" => "minera-gets-11-million-as-directors-exercise-options-41076.html",
"description" => "<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html"
),
array(
"id" => "120403mirl6904a",
"title" => "RNS press release - Directors Dealing and Exercise of Options",
"pubdate" => "2012-04-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/"
),
array(
"id" => "40957",
"title" => "News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output",
"pubdate" => "2012-03-30 14:38:00",
"seftitle" => "minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html",
"description" => "<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html"
),
array(
"id" => "120330mirl4868a",
"title" => "RNS press release - Annual Results Part 1",
"pubdate" => "2012-03-30 13:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/"
),
array(
"id" => "120330mirl4832a",
"title" => "RNS press release - Annual Results Part 3",
"pubdate" => "2012-03-30 13:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/"
),
array(
"id" => "120326mirl9498z",
"title" => "RNS press release - Adviser Change of Name",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/"
),
array(
"id" => "39778",
"title" => "News - Minera IRL closes C$33.1 million share placing ",
"pubdate" => "2012-03-05 13:43:00",
"seftitle" => "minera-irl-closes-c331-million-share-placing--39778.html",
"description" => "<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html"
),
array(
"id" => "120305mirl6954y",
"title" => "RNS press release - Closing of C$33.1 Million Offering",
"pubdate" => "2012-03-05 12:59:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/"
),
array(
"id" => "120305mirl6436y",
"title" => "RNS press release - Exercise of Option by Agent, RBC Capital Markets",
"pubdate" => "2012-03-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/"
),
array(
"id" => "39380",
"title" => "News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer",
"pubdate" => "2012-02-24 08:18:00",
"seftitle" => "minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html",
"description" => "<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html"
),
array(
"id" => "120224mirl0556y",
"title" => "RNS press release - Agency Agreement",
"pubdate" => "2012-02-24 07:02:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 2 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 3]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1052",
"epic" => "MIRL",
"name" => "Minera IRL",
"is_sponsor" => "1",
"international_sponsorship" => ""
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "42895",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ",
"pubdate" => "2012-05-16 11:49:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html",
"description" => "<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html"
),
array(
"id" => "42885",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process",
"pubdate" => "2012-05-16 08:58:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-42885.html",
"description" => "<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html"
),
array(
"id" => "120516mirl4228d",
"title" => "RNS press release - Don Nicolas EIA Permitting",
"pubdate" => "2012-05-16 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/"
),
array(
"id" => "42760",
"title" => "News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1",
"pubdate" => "2012-05-14 15:01:00",
"seftitle" => "minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html",
"description" => "<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html"
),
array(
"id" => "42616",
"title" => "News - Minera IRL: First Chapi Chapi copper drilling programme completed",
"pubdate" => "2012-05-10 15:12:00",
"seftitle" => "minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html",
"description" => "<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html"
),
array(
"id" => "42592",
"title" => "News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly",
"pubdate" => "2012-05-10 08:55:00",
"seftitle" => "minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html",
"description" => "<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html"
),
array(
"id" => "120510mirl0318d",
"title" => "RNS press release - Financial Results for Q1",
"pubdate" => "2012-05-10 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/"
),
array(
"id" => "120412mirl2450b",
"title" => "RNS press release - Exercise of Options and Total Voting Rights",
"pubdate" => "2012-04-12 15:34:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/"
),
array(
"id" => "120404mirl7908a",
"title" => "RNS press release - Grant of Options",
"pubdate" => "2012-04-04 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/"
),
array(
"id" => "41076",
"title" => "News - Minera gets £1.1 million as directors exercise options",
"pubdate" => "2012-04-03 09:12:00",
"seftitle" => "minera-gets-11-million-as-directors-exercise-options-41076.html",
"description" => "<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html"
),
array(
"id" => "120403mirl6904a",
"title" => "RNS press release - Directors Dealing and Exercise of Options",
"pubdate" => "2012-04-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/"
),
array(
"id" => "40957",
"title" => "News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output",
"pubdate" => "2012-03-30 14:38:00",
"seftitle" => "minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html",
"description" => "<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html"
),
array(
"id" => "120330mirl4868a",
"title" => "RNS press release - Annual Results Part 1",
"pubdate" => "2012-03-30 13:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/"
),
array(
"id" => "120330mirl4832a",
"title" => "RNS press release - Annual Results Part 3",
"pubdate" => "2012-03-30 13:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/"
),
array(
"id" => "120326mirl9498z",
"title" => "RNS press release - Adviser Change of Name",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/"
),
array(
"id" => "39778",
"title" => "News - Minera IRL closes C$33.1 million share placing ",
"pubdate" => "2012-03-05 13:43:00",
"seftitle" => "minera-irl-closes-c331-million-share-placing--39778.html",
"description" => "<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html"
),
array(
"id" => "120305mirl6954y",
"title" => "RNS press release - Closing of C$33.1 Million Offering",
"pubdate" => "2012-03-05 12:59:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/"
),
array(
"id" => "120305mirl6436y",
"title" => "RNS press release - Exercise of Option by Agent, RBC Capital Markets",
"pubdate" => "2012-03-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/"
),
array(
"id" => "39380",
"title" => "News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer",
"pubdate" => "2012-02-24 08:18:00",
"seftitle" => "minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html",
"description" => "<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html"
),
array(
"id" => "120224mirl0556y",
"title" => "RNS press release - Agency Agreement",
"pubdate" => "2012-02-24 07:02:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 3 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 4]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1052",
"epic" => "MIRL",
"name" => "Minera IRL",
"is_sponsor" => "1",
"international_sponsorship" => ""
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "42895",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ",
"pubdate" => "2012-05-16 11:49:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html",
"description" => "<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html"
),
array(
"id" => "42885",
"title" => "News - Minera IRL kicks off Don Nicolas permitting process",
"pubdate" => "2012-05-16 08:58:00",
"seftitle" => "minera-irl-kicks-off-don-nicolas-permitting-process-42885.html",
"description" => "<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html"
),
array(
"id" => "120516mirl4228d",
"title" => "RNS press release - Don Nicolas EIA Permitting",
"pubdate" => "2012-05-16 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/"
),
array(
"id" => "42760",
"title" => "News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1",
"pubdate" => "2012-05-14 15:01:00",
"seftitle" => "minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html",
"description" => "<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html"
),
array(
"id" => "42616",
"title" => "News - Minera IRL: First Chapi Chapi copper drilling programme completed",
"pubdate" => "2012-05-10 15:12:00",
"seftitle" => "minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html",
"description" => "<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html"
),
array(
"id" => "42592",
"title" => "News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly",
"pubdate" => "2012-05-10 08:55:00",
"seftitle" => "minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html",
"description" => "<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html"
),
array(
"id" => "120510mirl0318d",
"title" => "RNS press release - Financial Results for Q1",
"pubdate" => "2012-05-10 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/"
),
array(
"id" => "120412mirl2450b",
"title" => "RNS press release - Exercise of Options and Total Voting Rights",
"pubdate" => "2012-04-12 15:34:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/"
),
array(
"id" => "120404mirl7908a",
"title" => "RNS press release - Grant of Options",
"pubdate" => "2012-04-04 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/"
),
array(
"id" => "41076",
"title" => "News - Minera gets £1.1 million as directors exercise options",
"pubdate" => "2012-04-03 09:12:00",
"seftitle" => "minera-gets-11-million-as-directors-exercise-options-41076.html",
"description" => "<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html"
),
array(
"id" => "120403mirl6904a",
"title" => "RNS press release - Directors Dealing and Exercise of Options",
"pubdate" => "2012-04-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/"
),
array(
"id" => "40957",
"title" => "News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output",
"pubdate" => "2012-03-30 14:38:00",
"seftitle" => "minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html",
"description" => "<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html"
),
array(
"id" => "120330mirl4868a",
"title" => "RNS press release - Annual Results Part 1",
"pubdate" => "2012-03-30 13:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/"
),
array(
"id" => "120330mirl4832a",
"title" => "RNS press release - Annual Results Part 3",
"pubdate" => "2012-03-30 13:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/"
),
array(
"id" => "120326mirl9498z",
"title" => "RNS press release - Adviser Change of Name",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/"
),
array(
"id" => "39778",
"title" => "News - Minera IRL closes C$33.1 million share placing ",
"pubdate" => "2012-03-05 13:43:00",
"seftitle" => "minera-irl-closes-c331-million-share-placing--39778.html",
"description" => "<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html"
),
array(
"id" => "120305mirl6954y",
"title" => "RNS press release - Closing of C$33.1 Million Offering",
"pubdate" => "2012-03-05 12:59:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/"
),
array(
"id" => "120305mirl6436y",
"title" => "RNS press release - Exercise of Option by Agent, RBC Capital Markets",
"pubdate" => "2012-03-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/"
),
array(
"id" => "39380",
"title" => "News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer",
"pubdate" => "2012-02-24 08:18:00",
"seftitle" => "minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html",
"description" => "<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html"
),
array(
"id" => "120224mirl0556y",
"title" => "RNS press release - Agency Agreement",
"pubdate" => "2012-02-24 07:02:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Minera IRL</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Minera IRL RSS feed
</description>
<language>en</language>
<pubDate>Wed, 23 May 2012 14:54:34 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:MIRL/Minera-IRL/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</link>
<description><![CDATA[<p><strong>---Adds broker comment --</strong>-</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.</p>
<p>The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.</p>
<p>"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p>Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina. </p>
<p>"This negative sentiment has been primarily caused by the expropriation of the majority of <a href="http://www.proactiveinvestors.co.uk/companies/overview/9606/Repsol" class="companyPopupTrigger" rel="9606">Repsol</a>’s holding in YPF, the local oil company. </p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 11:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42895/minera-irl-kicks-off-don-nicolas-permitting-process-update--42895.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL kicks off Don Nicolas permitting process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</link>
<description><![CDATA[<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL)</strong> said its Don Nicolas gold-silver project in Argentina has reached another major milestone as the permitting process has now started.</p>
<p>The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.</p>
<p>According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.</p>
<p>“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.</p>
<p>“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.</p>
<p>“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”</p>
<p>Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year. </p>
<p>It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.</p>
<p>The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.</p>
<p> </p> ]]></description>
<pubDate>Wed, 16 May 2012 08:58:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42885/minera-irl-kicks-off-don-nicolas-permitting-process-42885.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Don Nicolas EIA Permitting ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120516mirl4228d/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: FoxDavies maintains 'buy' rating on company after solid Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</link>
<description><![CDATA[<p>
<p>Broker FoxDavies has maintained its 'buy' rating on <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) saying the firm made a "solid" start to 2012.</p>
<p>Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million. </p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. </p>
<p>FoxDavies analyst Peter Rose said in a note: "Another solid quarter from <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."</p>
<p>"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> at the lower end of producers in terms of costs.</p>
<p>"<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."</p>
<p>The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.</p>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 15:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42760/minera-irl-foxdavies-maintains-buy-rating-on-company-after-solid-q1-42760.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL: First Chapi Chapi copper drilling programme completed ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</link>
<description><![CDATA[<p> </p>
<p>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:MIRL) and <a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/Alturas+Minerals" class="companyPopupTrigger" rel="6559">Alturas Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/6559/alturas-minerals--6559.html" class="companyPopupTrigger" rel="6559">CVE:ALT</a>) in southern Peru.</p>
<p>Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.</p>
<p>It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.</p>
<p>Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.</p>
<p>It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.</p>
<p>"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.</p>
<p>“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."</p>
<p>Under the agreement between the companies <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a>’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> will then retain a 20 per cent stake in the Huaquirca venture.</p>
<p>Earlier today, in London, <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42616/minera-irl-first-chapi-chapi-copper-drilling-programme-completed-42616.html</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL tops Q1 expectations as Corihuarmi mine performs strongly ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</link>
<description><![CDATA[<p> </p>
<p><strong><a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, TSE:IRL) </strong>said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.</p>
<p>Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.</p>
<p>Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.</p>
<p>Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.</p>
<p>Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.</p>
<p>The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.</p>
<p>"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.</p>
<p>Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.</p>
<p>Permitting for Don Nicolas is about to start.</p>
<p>At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.</p>
<p>“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.</p>
<p>“<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”</p>
<p> </p> ]]></description>
<pubDate>Thu, 10 May 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42592/minera-irl-tops-q1-expectations-as-corihuarmi-mine-performs-strongly-42592.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Financial Results for Q1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510mirl0318d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Options and Total Voting Rights ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 15:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412mirl2450b/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Grant of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 04 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120404mirl7908a/</guid>
</item>
<item>
<title><![CDATA[News - Minera gets £1.1 million as directors exercise options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</link>
<description><![CDATA[<p>South America-focused gold miner <a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has received a cash boost after a number of directors exercised options over more than 2 million shares.</p>
<p>The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.</p>
<p>The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.</p>
<p>The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.</p>
<p>Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 09:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41076/minera-gets-11-million-as-directors-exercise-options-41076.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Directors Dealing and Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403mirl6904a/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL reports strong full-year as Corihuarmi achieves record gold output ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</link>
<description><![CDATA[<p>Corihuarmi in Peru has continued to perform well throughout 2011, helping to lift sales revenue 29 percent from the previous year to US$53 million. Minera is in a strong position to continue its exploration and development plans.</p>
<p> </p>]]></description>
<pubDate>Fri, 30 Mar 2012 14:38:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40957/minera-irl-reports-strong-full-year-as-corihuarmi-achieves-record-gold-output-40957.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 1 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4868a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Annual Results Part 3 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 13:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330mirl4832a/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Adviser Change of Name ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326mirl9498z/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL closes C$33.1 million share placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</link>
<description><![CDATA[<p>South American gold miner <a href="http://proactiveinvestors.co.uk/companies/overview/1052/Minera+IRL" class="companyPopupTrigger" rel="1052">Minera IRL</a> (<a href="/companies/overview/1052/minera-irl-1052.html" class="companyPopupTrigger" rel="1052">LON:MIRL</a>, CVE:IRL) has closed its previously announced placing and raised C$33.1 million.<br /><br />The firm's chairman Courtney Chamberlain said the offering had been well supported by existing and new shareholders and allowed the firm to "consolidate and build upon the progress it has made toward becoming a mid-tier gold producer by 2015".<br /><br />As reported last month, the London and Toronto-listed group was to sell 26 million shares at C$1.13 a share.<br /><br />Today, the company said that, including shares issued as a result of the exercise of an over-allotment, a total of 29.26 million shares were issued, raising gross proceeds of C$33.1 million.<br /><br />Minera plans to use the proceeds, together with existing cash, to advance the Ollachea and Don Nicholas projects. The cash will also help fund exploration work across the rest of the portfolio.<br /><br />Chamberlain added in today's statement: "In 2011 we added significant new gold resources, completed a successful pre-feasibility study on our flagship Ollachea gold project and, most recently, completed a successful feasibility study on our Don Nicolas project in Patagonia, Argentina. <br /><br />"During 2012 we expect to complete the full feasibility study at Ollachea, permit and commit Don Nicolas to development and continue with our exploration programs in Peru and Argentina," he said.<br /><br />As at 1.40 pm, Minera shares were up 0.34 per cent, to trade at 72.75 pence.</p> ]]></description>
<pubDate>Mon, 05 Mar 2012 13:43:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39778/minera-irl-closes-c331-million-share-placing--39778.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Closing of C$33.1 Million Offering ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 12:59:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6954y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Exercise of Option by Agent, RBC Capital Markets ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 05 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120305mirl6436y/</guid>
</item>
<item>
<title><![CDATA[News - Minera IRL hopes £19 million cash call is a "significant step" to becoming mid-tier producer ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</link>
<description><![CDATA[<p>Minera IRL is raising £19.2 million, cash it hopes will help it break through as mid-tier gold producer.</p>]]></description>
<pubDate>Fri, 24 Feb 2012 08:18:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39380/minera-irl-hopes-19-million-cash-call-is-a-significant-step-to-becoming-mid-tier-producer-39380.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Agency Agreement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 24 Feb 2012 07:02:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120224mirl0556y/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337781274
SessionHelper::$sessionTime = 1337805274
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:MIRL/Minera-IRL/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 4 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Minera IRL (LON:MIRL, CVE:IRL) said its Don Nicolas gold-silver project in Argentina has reached another major milestone - as the permitting process has now begun.
The company told investors today that the environmental impact assessment (EIA) had now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.
According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.
"The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman Courtney Chamberlain.
"The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.
"We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”
Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year.
It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.
The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.
Broker finncap said the announcement demonstrated the firm's commitment to the development of the Don Nicolas project, despite the current negative sentiment towards Argentina.
"This negative sentiment has been primarily caused by the expropriation of the majority of Repsol’s holding in YPF, the local oil company.
"Minera IRL’s take on this is that it was a specific one-off and should not be taken as applying to the extractive industries as a whole," analyst Martin Potts said in a note.
]]>
The company told investors today that the environmental impact assessment (EIA) has now been completed and presented to the secretary of mining of the Santa Cruz province of Argentina, marking the start of the permitting process.
According to the company, permitting, which is expected to take six months, should proceed expeditiously given the “outstanding” support from the authorities in Santa Cruz.
“The completion of the EIA and commencement of permitting marks another significant milestone in the development of the Don Nicolas Project in Patagonia,” said executive chairman of Minera Courtney Chamberlain.
“The future Don Nicolas Mine promises to be an attractive investment with considerable upside potential in a number of areas.
“We remain confident that we will have our first gold pour from Don Nicolas in late 2013.”
Don Nicolas will be a 350,000 tonne per year open pit mining operation producing 52,400 ounces of gold and 56,000 ounces of silver each year.
It will cost around US$55 million to build and operating costs are estimated at US$528 an ounce, giving a margin of more than US$1,000 an ounce at current gold prices.
The mine is currently estimated to have a relatively short 3.6 year mine life but the company expects future exploration to extend this significantly.
]]>
Broker FoxDavies has maintained its 'buy' rating on Minera IRL (LON:MIRL, TSE:IRL) saying the firm made a "solid" start to 2012.
Last Thursday, the company said its Q1 results had topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.
Profit after tax jumped 35 per cent to US$1.7 million in the first three months compared to 2011 while revenues improved 1.3 per cent to US$11.1 million.
Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011.
FoxDavies analyst Peter Rose said in a note: "Another solid quarter from Minera IRL. Gold production was slightly ahead of our expectations despite lower grades and higher strip ratios. Revenues were also slightly up on our expectations mainly due to the high gold price (US$1699) achieved in the quarter."
"We are expecting the grades at Corihuarmi to fall in the next three quarters which is likely to increase operating costs, however at just over US$500 cash costs per ounce, this still places Minera IRL at the lower end of producers in terms of costs.
"Minera IRL is now fully cashed up after the raising of C$33.1 mln in a fundraising in March, which will allow the company to complete the necessary studies for feasibility at Don Nicolas and Ollachea."
The broker decreased its target price for the stock to 130 pence a share - from 133 pence previously.
]]>The first round of drilling has now come to an end at the Chapi Chapi project, an exploration venture between Mineral IRL (LON:MIRL, TSE:MIRL) and Alturas Minerals (CVE:ALT) in southern Peru.
Alturas is currently earning an 80 per cent stake in the project. And the Canadian firm today said that almost 5,500 metres of drilling had now been completed.
It says that ‘strong metal values’ encountered through the programme has highlighted a need for follow up drilling.
Alturas told investors that the drill results from Chapi Chapi so far have confirmed a large copper-gold-molybdenum system. And follow up drilling will help define possible extensions as well as test other drill targets in the area.
It said that grades range from 0.57 to 1.31 per cent copper equivalent in one area, while in another the grades were between 0.52 and 0.95 per cent copper. Other areas of mineralsation were also encountered.
"Alturas has outlined a large, potentially economic, copper-gold-molybdenum mineralized system: a second phase drilling program of 10,000 meters is planned for the second half of 2012 and it will start as soon as the environmental permit is obtained,” said Alturas chief executive Miguel Cardozo.
“The second phase program will aim to more precisely define the extent and quality of the widespread copper-gold-molybdenum mineralization."
Under the agreement between the companies Minera IRL’s Chapi Chapi project is being combined with Alturas adjoining Utupara property, to form the Huaquirca venture. And Alturas will earn an 80 per cent stake in the venture once it has completed 15,000 metres of additional drilling as well as a scoping study.
Minera IRL will then retain a 20 per cent stake in the Huaquirca venture.
Earlier today, in London, Minera IRL released its first quarter results which were boosted by strong production and sales figures from the Corihuarmi gold mine in Peru, in the central Andes.
Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.
Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.
Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.
Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.
]]>
Minera IRL (LON:MIRL, TSE:IRL) said its first quarter financial results topped expectations as its producing Corihuarmi gold mine in Peru performed strongly.
Profits after tax jumped 35 percent to US$1.7 million in the first three months of the year from the same period of 2011 as revenues improved 1.3 percent to US$11.1 million. Pre-tax profit came in at US$3.1 million, up from US$2.5 million.
Gold sales declined 22 percent from a year earlier to 6,515 ounces, but this was offset by a 22 percent increase in average realised sales prices to US$1,699 per ounce.
Minera added that its cash balance was strong at the end of the period with US$30.3 million in the bank following a C$33.1 million share placing.
Output from the company’s Corihuarmi mine was ahead of expectations at 6,747 ounces compared with 7,592 ounces in the first quarter of 2011. Operating costs increased to US$502 per ounce from US$401 last year.
The company told investors that grades at Corihuarmi will continue to decline as it approaches the end of its life in 2015/16, which will result in further reductions in production.
"However, due to a focus on controlling site operating costs and maximizing throughput, the mine continues to perform well and is generating strong cash flows,” said chairman of Minera Courtney Chamberlain.
Other operational highlights of the period included the completion of a positive feasibility study on the Don Nicolas project in Patagonia, which was estimated to have a net present value of US$40 million based on a gold price of US$1,250 per ounce.
Permitting for Don Nicolas is about to start.
At the Ollachea project, the ongoing feasibility study is on track to be completed in the second half of the year.
“The financial results for the March 2012 quarter exceeded management's expectations on the back of a solid performance from our Corihuarmi Gold Mine in Peru,” said Chamberlain.
“Minera IRL is committed to bringing Don Nicolas into production by late 2013, as well as advancing the exploration campaign in Patagonia, yet we will continue to carefully monitor the investment environment in Argentina in the best interests of all of its stakeholders.”
]]>
The bulk of the options were exercised at 45 pence, with 500,000 at 64 pence raising about £1.1 million for the miner with operations in Peru and Argentina. Most of the shares acquired under the options were subsequently sold.
The cash will add to an already strong funding position at Minera. At the end of 2011, the company had about £7 million in cash which it subsequently boosted with a placing to raise a further £19 million.
The money will be used to develop its Ollachea project in Peru and exploration, permitting and detailed engineering at the Don Nicolas mine in Argentina and the wider exploration of its acreage in Patagonia.
Minera also has the producing Corihuarmi gold mine in Peru. In 2011, Minera sold 33,718 ounces at an average price of US$1,570/oz, while pre-tax profit soared to US$16.1 million from US$6.5 million.
]]>
]]>