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Category: Junior: Small Producer
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Minera IRL Ltd
www: www.minera-irl.com     email: minera@irl.com.pe

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Notes
Forum
Your Data

Symbol Data

Symbol Currency
CNSX:MIRL CAD
OTCMKTS:MRLLF USD

Description

Minera IRL Ltd are a gold focused junior, small producer with one producing mine in Peru, one mine in development in Peru and exploration properties. Currently they produce roughly 20koz. of gold per year. They have approximately 2.4Moz. of gold in the reserves and resources category of which 1.3Moz. are in the measured and indicated category. They have a market capitalisation of ~C$9.99M which is a fall of roughly 39% over the last five months. As of 05/27/2018 they have ~C$61M debt and ~C$1.79M cash. They have 231M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 05/27/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $16.34M $9.99M 05/27/2018 $-6.35M
Total Assets: $130.90M $130.90M 05/27/2018 $0.00M
Total Liabilities: $74.80M $74.80M 05/27/2018 $0.00M
Current Assets: $11.69M $11.69M 05/27/2018 $0.00M
Current Liabilities: $69.35M $69.35M 05/27/2018 $0.00M
Total Debt: $60.78M $60.78M 05/27/2018 $0.00M
Cash: $1.79M $1.79M 05/27/2018 $0.00M
Enterprise Value: $75.32M $68.97M 03/09/1972 $-6.35M
Cash Flow: $0.72M $-0.33M never $-1.04M
Cash Flow Multiple: 22.84 0.00 never -22.84
Net Debt to
Cash Flow Ratio:
82.45 n/a never 0.00
Finance within 1 year: 05/27/2018 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 05/27/2018 0.00%
Misc 05/27/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 231,000,000 231,000,000 05/27/2018 0
Shares (FD): 233,000,000 233,000,000 05/27/2018 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 05/27/2018 n/a
Production (Gold Eq Oz.): (guess) 
20,000
(guess) 
20,000
05/27/2018 0
Production (Silver Eq Oz.): (guess) 
1,579,005
(guess) 
1,680,137
05/27/2018 101,132
Initial CapEx (Outstanding): $175.00M
1071.03% of Mkt.Cap
$175.00M
1752.59% of Mkt.Cap
05/27/2018 $0.00M
Funding Option: n/a n/a 05/27/2018 n/a
Documentation: none PRODUCER 05/27/2018 n/a
Value Adjustment: -25% -25% never 0%

Resource Data

GOLD 05/27/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.10M 1.10M 05/27/2018 0.00M
Measured & Indicated: 1.30M 1.30M 05/27/2018 0.00M
Inferred: 1.10M 1.10M 05/27/2018 0.00M
Reserves & Resources: 2.40M 2.40M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.94M 0.94M 05/27/2018 0.00M
Measured & Indicated: 1.07M 1.07M 05/27/2018 0.00M
Inferred: 0.47M 0.47M 05/27/2018 0.00M
Reserves & Resources: 1.54M 1.54M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
20,000oz.
(guess) 
20,000oz.
05/27/2018 0oz.
Cash Cost: $850 $850 05/27/2018 $0.00
Extra Operating Cost: $400 $400 05/27/2018 $0.00
Average Grade: 3.00 g/t 3.00 g/t 05/27/2018 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 05/27/2018 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 05/27/2018 0.00M
Annual Production: 100,000oz. 100,000oz. 05/27/2018 0oz.
Cash Cost: $750 $750 05/27/2018 $0
Extra Operating Cost: $400 $400 05/27/2018 $0
SILVER 05/27/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 05/27/2018 0.00M
Measured & Indicated: n/a n/a 05/27/2018 0.00M
Inferred: n/a n/a 05/27/2018 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 05/27/2018 0.00M
Measured & Indicated: n/a n/a 05/27/2018 0.00M
Inferred: n/a n/a 05/27/2018 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/27/2018 $0.00
Extra Operating Cost: n/a n/a 05/27/2018 $0.00
Average Grade: n/a n/a 05/27/2018 n/a
Recovery Rate: n/a n/a 05/27/2018 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 05/27/2018 0.00M
Annual Production: n/a n/a 05/27/2018 n/a
Cash Cost: n/a n/a 05/27/2018 n/a
Extra Operating Cost: n/a n/a 05/27/2018 n/a

Property

Last Analysis Data  (05/27/2018)
Stage Location Name Owned Type Au Ag Cu Notes
Production Lima, Peru Corihuarmi 100% n/a show
Production stops in 2020

20,000 oz annual production

High cash costs.
Development Peru Ollachea 100% Underground show
1 million oz deposit at 3.5 gpt with low cash costs.

Capex $178 million

Aftertax IRR 22% at $1300 gold.

100,000 oz production

Need financing to begin construction.
Exploration Santa Cruz, Argentina Escondido 100% n/a n/a
Exploration Santa Cruz, Argentina Michelle 100% n/a n/a
Exploration Santa Cruz, Argentina Pan de Azucar 100% n/a n/a
Exploration Argentina Patagonia Regional 100% n/a n/a
Exploration Chile Frontera 100% n/a n/a
Exploration Peru Bethania 0% n/a n/a
Exploration Peru Huaquirca 0% n/a n/a
Exploration Peru Quilavira 0% n/a n/a
Current Data
Stage Location Name Owned Type Au Ag Cu Notes
Production Lima, Peru Corihuarmi 100% n/a show
Production stops in 2020

20,000 oz annual production

High cash costs.
Development Peru Ollachea 100% Underground show
1 million oz deposit at 3.5 gpt with low cash costs.

Capex $178 million

Aftertax IRR 22% at $1300 gold.

100,000 oz production

Need financing to begin construction.
Exploration Santa Cruz, Argentina Escondido 100% n/a n/a
Exploration Santa Cruz, Argentina Michelle 100% n/a n/a
Exploration Santa Cruz, Argentina Pan de Azucar 100% n/a n/a
Exploration Argentina Patagonia Regional 100% n/a n/a
Exploration Chile Frontera 100% n/a n/a
Exploration Peru Bethania 0% n/a n/a
Exploration Peru Huaquirca 0% n/a n/a
Exploration Peru Quilavira 0% n/a n/a

Profitability (by resource)

Proven &
Probable
05/27/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.10M 1.10M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 5.56M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.94M 0.94M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 4.73M
Maximum Profit (Gold): $25.08M $-19.23M n/a $-44.31M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $25.08M $-19.23M n/a $-44.31M
Max Profit / Current MCap: 1.535 n/a n/a -3.461
Max Profit Per Share (Gold): $0.11 $-0.08 n/a $-0.19
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.11 $-0.08 n/a $-0.19
Total Free Profit Per Share: $0.02 $0.00 n/a $-0.02
FD Mkt. Cap / Gold Eq.: $17.48 $10.68 n/a $-6.80
FD Mkt. Cap / Silver Eq.: $0.22 $0.13 n/a $-0.09
FD Mkt. Cap / Per Metal
as % Spot Price:
1.34% 0.87% n/a -0.47%
Measured &
Indicated
05/27/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.30M 1.30M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 6.57M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.07M 1.07M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 5.42M
Maximum Profit (Gold): $28.73M $-22.02M n/a $-50.75M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $28.73M $-22.02M n/a $-50.75M
Max Profit / Current MCap: 1.758 n/a n/a -3.964
Max Profit Per Share (Gold): $0.12 $-0.09 n/a $-0.22
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.12 $-0.09 n/a $-0.22
Total Free Profit Per Share: $0.03 $0.00 n/a $-0.03
FD Mkt. Cap / Gold Eq.: $15.26 $9.32 n/a $-5.93
FD Mkt. Cap / Silver Eq.: $0.19 $0.11 n/a $-0.08
FD Mkt. Cap / Per Metal
as % Spot Price:
1.17% 0.76% n/a -0.41%

Reserves &
Resources
05/27/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.40M 2.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 12.14M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.54M 1.54M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 7.78M
Maximum Profit (Gold): $41.27M $-31.64M n/a $-72.91M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $41.27M $-31.64M n/a $-72.91M
Max Profit / Current MCap: 2.526 n/a n/a -5.694
Max Profit Per Share (Gold): $0.18 $-0.14 n/a $-0.31
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.18 $-0.14 n/a $-0.31
Total Free Profit Per Share: $0.09 $0.00 n/a $-0.09
FD Mkt. Cap / Gold Eq.: $10.62 $6.49 n/a $-4.13
FD Mkt. Cap / Silver Eq.: $0.13 $0.08 n/a $-0.06
FD Mkt. Cap / Per Metal
as % Spot Price:
0.82% 0.53% n/a -0.29%

Future Valuation (Cash Flow & Totals)

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