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   Gold/Mining/EnergyMinera IRL


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From: LouisCyr11/27/2021 1:43:09 PM
4 Recommendations   of 1277
 
And here is my reply to Gerardo today…
First a 10 year chart of the mirl stock price from Big Charts….then
Here’s the evidence that things have not been going well at mirl for many years. We have heard all the excuses. You are telling us all is OK! You are asking us to remain patient for how many more years?
Concerned Shareholder

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From: mark_ikn11/27/2021 4:53:16 PM
5 Recommendations   of 1277
 
"The findings of the forensic investigations of whistle blower accusations by Baker Tilly (Peru) ... disclosed there was no credible evidence of wrong doing or criminal misconduct by Mr. Diego Benavides or other members of the management team. Accordingly his authority to manage the affairs of the Company in Peru has been fully reinstated."

That statement is from this NR...

finance.yahoo.com

...and carries formal official weight. The name "Baker Tilly" carries international standing, as well. It's only when one notices that the NR is dated 7 June 2016 that one begins to wonder just why, out of all the third parties in all the world, Minera IRL is so keen on choosing them every time Minera IRL CEO Diego Benavides comes under formal investigation. Surely it should have chosen another third party in order to maintain as transparent profile as possible. Perhaps the board would care to comment on its selection process for the third party independent audit firm and while doing so, disclose any personal relationship that any of the board may have with any member of Baker Tilly (Peru), be they family or friend level.

In other news, I have received multiple mails from fellow shareholders today, many of them pointing out glaring holes in the mailer sent out to shareholders of Minera IRL today. However one of those mails, from somebody who has no reason at all to help me, has caught my eye. He replied to Chair Perez and his mail and in only one of several points related to fiduciary duty of officers and board, asked for details about the hiring process that saw the arrival of Steven Ngatai as Vice President of Projects, Susan Gabbie as Chief Communications Officer, and Pedro Valdez as Vice President Investor Relations. He writes:

"...how many candidates did the company consider for the positions eventually filled by Gabbie, Ngatai and Valdez? Were the positions advertised? Was a headhunter engaged? I simply don't find it credible that the best possible candidates happened to be people who were already friends with Mr. Diego Benavides."

That is a very good question and now that the board considers the case closed, the board, the MIRL C-suite and its IR and communications departments have no lien on answering shareholder inquiries.

Yours sincerely, "a blogger"

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From: mark_ikn11/27/2021 6:58:05 PM
2 Recommendations   of 1277
 
Ask questions!

It is the company's duty to provide meaningful answers to any question you might pose them. Do not settle for mere platitudes, ask them what's on your mind and get answers from them.

And do not take my word for anything per se, I'm just one voice of many. If you have doubts or worries about Minera IRL, ask them of the people who work there. The company's internal inquiry is now closed and they cannot hide behind it any longer, you the shareholder are the owner of the company and have every right to ask questions and receive answers, even more so during the AGM voting period and the lead-up to the AGM. We the CS list have the mail addresses and phone numbers of IR manager Pedro Valdez, of Communications Manager Susan Gabbie, of CEO Diego Benavides and can supply them if required by any shareholder.

These people are acting as if they own the company. Enough! It's time for them to realize they are behest to us and not the other way around.

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From: mark_ikn11/27/2021 8:01:59 PM
2 Recommendations   of 1277
 
Here's a Spanish expression for your information, education and edification:

"Por la boca muere el pez"

Concerned shareholders are invited to read this link, from IFRS, regarding Related Party Transactions:

ifrs.org

Concerned Shareholders are now invited to read the quarterly and annual financial statements of Minera IRL. Please note the lack of declared RPTs. Finally, CS members are invited to re-read the letter sent out by Gerardo Perez today. Once you've done those things, you may have some questions for the board of directors because it's one thing to hire somebody, quite another not to declare their earnings on a quarterly or annual basis under RPD/RPT rules. You may even have some points of order you'd like to make to Rio Tinto, or the auditor Davidson.

Yours sincerely, "a blogger"

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From: jiggaAu11/27/2021 11:14:30 PM
   of 1277
 
Hello All,

I also received the message from the Chairman regarding the results of the investigation and i think it is reasonable to share my view here.

I was never concerned about any wrongdoings as i knew everything as far back as Courtney,Diego, Barrie,Trish and Arnold they were the people behind the foundation of Minera since day one.

It is my opinion that the boards decision to retain a third party to conduct a forensic investigation was correct and adds the necessary layer of transparency into the situation.
As shareholders who are concerned about the share value and interested in getting a return on our investment, we should positively welcome the outcome of the investigation, the time invested to reach a conclusion and how the perception of the market towards MIRL may improve.
I think the noise should stop now as it is time to encourage management to fulfill their promises as this will be in our own interest. the CEO is now bound to move forward with Financing discussions and expedite results for us all.
Ollachea has got the social license and the company has one of the best track records on social responsibility in Peru, something that the new government is certainly looking for.

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To: jiggaAu who wrote (1044)11/27/2021 11:42:56 PM
From: mark_ikn
3 Recommendations   of 1277
 
Unfortunately, today's mailer from MIRL also exposes grave accounting and financial discrepancies. In effect, the company has been breaking financial rules for years and only admitted it today, they are in a lot of trouble, and they know it. Even the most ardent supporter of the company now needs to step back and understand the seriousness of these reporting errors.

This is not personal, even though you might want it to be (considering your previous posts about my person). These are the rules of public financial disclosure, I don't make them, they are written by real authorities who then make sure they are adhered to (or else). MIRL has been systematically breaking them for years on end and will now have to answer not only to its shareholders, but to the relevant financial authorities.

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From: Gazoonie11/28/2021 12:35:53 AM
1 Recommendation   of 1277
 
Hello hive mind... have not recieved proxies mailed to me so am trying to figure out the online method through the CSE /Computershare. The proxy forms provided are blank of course, I presume I fill one out per account then mail to computershare? Is there an email I can send them to? Cannot find one on the CSE page...anyone done this? Also I presume i leave the "appointment of proxy-holder box blank?
Sorry for the dumb questions but have never felt the need to vote my shares before...wish I didn't this time..fml

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To: jiggaAu who wrote (1044)11/28/2021 12:26:36 PM
From: wrkoutmn50
   of 1277
 
Get lost clown!

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To: mark_ikn who wrote (1027)11/29/2021 10:33:38 PM
From: Kiwi Pom
   of 1277
 
A question.

The response from the company mentions this

"Both the report of the Special Committee and the Baker Tilly report will be forwarded to our independent statutory auditors, PKF Littlejohn LLP, for their review and consideration."

Which is the better direction to raise complaint - Littlejohn or UK-based Davidson.

I would have imagined only one set of auditors - but perhaps I am showing my ignorance.

Any views appreciated.

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To: Kiwi Pom who wrote (1048)11/29/2021 11:19:33 PM
From: mark_ikn
1 Recommendation   of 1277
 
PKF Littlejohn is the right place to file complaints, they sign off the annuals.

Davidson was my (repeated) mistake.

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