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Gold/Mining/Energy : Argentina Area Play - Gold & Silver in the Deseado Massif

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From: TheSlowLane5/10/2011 7:57:48 AM
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Minera IRL hire RBC Capital Markets as its new broker

Lima, May 05 (ANDINA). Minera IRL credentials got a boost this morning as it hired Royal Bank of Canada as its new broker.
The junior gold company, which operates the Corihuami gold mine in Peru and is currently working on new mine development projects in Latin America, has appointed RBC Capital Markets as joint and global broker with immediate effect.

"We are very pleased to be able to appoint an investment bank of RBC's calibre as our joint and global broker as we believe it highlights the quality and potential of the Company's projects," chairman Courtney Chamberlain.

"RBC's significant presence in North America and also globally will enable the Company to present its investment case to a wide investor audience, which in the medium to long term will benefit the Company and its shareholders."

Indeed the company has been growing in stature as it attracts more attention from investors.

Last month Minera said it was well positioned to advance its two mine development projects – Don Nicholas and Ollachea - as well as unlocking more value from focused exploration.

The group’s gold production comes, un-hedged, from the Corihuarmi Mine in Peru which recently extended its mine life to run until 2015, reported.

While it could be considered to be comparatively modest in size Corihuami is important as the cash-flow it produces is used to fund Minera’s growth ambitions.

At Ollachea, a 1.7 million ounce project in Peru, Minera is working to complete a pre-feasibility study by mid-2011. The company has also been drilling a new discovery, Concurayoc, where a maiden resource estimate is also expected in mid-2011.

In Patagonia, Argentina, Minera IRL has focused on the Don Nicholas gold project where a feasibility study is expected to be completed by late 2011, which could trigger permitting and construction in 2012 to allow mining to start in 2013.
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