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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$19.12M which is a rise of roughly 37% over the last three years. As of 02/21/2015 they have ~C$21M debt and ~C$0.01M 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 02/21/2015
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $13.95M $19.12M 02/21/2015 $5.17M
Total Assets: $124.46M $123.20M 02/21/2015 $-1.26M
Total Liabilities: $26.33M $26.06M 02/21/2015 $-0.27M
Current Assets: $10.37M $10.27M 02/21/2015 $-0.10M
Current Liabilities: $26.33M $26.06M 02/21/2015 $-0.27M
Total Debt: $21.54M $21.32M 02/21/2015 $-0.22M
Cash: $3.99M $0.01M 02/20/2016 $-3.98M
Enterprise Value: $31.50M $40.44M 04/13/1971 $8.93M
Cash Flow: $-0.67M $1.33M never $2.00M
Cash Flow Multiple: 0.00 14.33 never 14.33
Net Debt to
Cash Flow Ratio:
n/a 15.98 never 15.98
Finance within 1 year: 02/21/2015 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 02/21/2015 0.00%
Misc 02/21/2015
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 231,000,000 231,000,000 02/21/2015 0
Shares (FD): 269,000,000 269,000,000 02/21/2015 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 02/21/2015 n/a
Production (Gold Eq Oz.): (guess) 
20,000
(guess) 
20,000
02/21/2015 0
Production (Silver Eq Oz.): (guess) 
1,479,766
(guess) 
1,561,579
02/21/2015 81,812
Initial CapEx (Outstanding): $175.00M
1254.48% of Mkt.Cap
$175.00M
915.26% of Mkt.Cap
02/21/2015 $0.00M
Funding Option: n/a n/a 02/21/2015 n/a
Documentation: none PRODUCER 02/20/2016 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 02/21/2015
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 02/21/2015 0.00M
Measured & Indicated: 1.30M 1.30M 02/21/2015 0.00M
Inferred: 1.10M 1.10M 02/21/2015 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 02/21/2015 0.00M
Measured & Indicated: 1.07M 1.07M 02/21/2015 0.00M
Inferred: 0.47M 0.47M 02/21/2015 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.
02/21/2015 0oz.
Cash Cost: $850 $850 02/21/2015 $0.00
Extra Operating Cost: $400 $400 02/21/2015 $0.00
Average Grade: 3.00 g/t 3.00 g/t 02/21/2015 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 02/20/2016 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 02/21/2015 0.00M
Annual Production: 100,000oz. 100,000oz. 02/21/2015 0oz.
Cash Cost: $700 $700 02/21/2015 $0
Extra Operating Cost: $400 $400 02/21/2015 $0
SILVER 02/21/2015
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 02/21/2015 0.00M
Measured & Indicated: n/a n/a 02/21/2015 0.00M
Inferred: n/a n/a 02/21/2015 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 02/21/2015 0.00M
Measured & Indicated: n/a n/a 02/21/2015 0.00M
Inferred: n/a n/a 02/21/2015 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 02/21/2015 $0.00
Extra Operating Cost: n/a n/a 02/21/2015 $0.00
Average Grade: n/a n/a 02/21/2015 n/a
Recovery Rate: n/a n/a 02/21/2015 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 02/21/2015 0.00M
Annual Production: n/a n/a 02/21/2015 n/a
Cash Cost: n/a n/a 02/21/2015 n/a
Extra Operating Cost: n/a n/a 02/21/2015 n/a

Property

Last Analysis Data  (02/21/2015)
Stage Location Name Owned Type Au Ag Cu Notes
Production Lima, Peru Corihuarmi 100% n/a show
Production stops in 2015 or 2016.

Only 20,000 oz in 2014.
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

They want to begin construction in 2014.
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 2015 or 2016.

Only 20,000 oz in 2014.
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

They want to begin construction in 2014.
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
02/21/2015
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 4.50M
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 3.82M
Maximum Profit (Gold): $-31.21M $62.37M n/a $93.59M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-31.21M $62.37M n/a $93.59M
Max Profit / Current MCap: n/a 3.262 n/a 5.500
Max Profit Per Share (Gold): $-0.12 $0.23 n/a $0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-0.12 $0.23 n/a $0.35
Total Free Profit Per Share: $0.00 $0.14 n/a $0.14
FD Mkt. Cap / Gold Eq.: $14.92 $20.45 n/a $5.53
FD Mkt. Cap / Silver Eq.: $0.20 $0.26 n/a $0.06
FD Mkt. Cap / Per Metal
as % Spot Price:
1.24% 1.52% n/a 0.28%
Measured &
Indicated
02/21/2015
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 5.32M
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 4.38M
Maximum Profit (Gold): $-35.75M $71.45M n/a $107.20M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-35.75M $71.45M n/a $107.20M
Max Profit / Current MCap: n/a 3.737 n/a 6.300
Max Profit Per Share (Gold): $-0.13 $0.27 n/a $0.40
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-0.13 $0.27 n/a $0.40
Total Free Profit Per Share: $0.00 $0.18 n/a $0.18
FD Mkt. Cap / Gold Eq.: $13.03 $17.85 n/a $4.83
FD Mkt. Cap / Silver Eq.: $0.18 $0.23 n/a $0.05
FD Mkt. Cap / Per Metal
as % Spot Price:
1.08% 1.33% n/a 0.24%

Reserves &
Resources
02/21/2015
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 9.82M
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 6.29M
Maximum Profit (Gold): $-51.36M $102.63M n/a $153.99M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-51.36M $102.63M n/a $153.99M
Max Profit / Current MCap: n/a 5.368 n/a 9.049
Max Profit Per Share (Gold): $-0.19 $0.38 n/a $0.57
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-0.19 $0.38 n/a $0.57
Total Free Profit Per Share: $0.00 $0.29 n/a $0.29
FD Mkt. Cap / Gold Eq.: $9.07 $12.43 n/a $3.36
FD Mkt. Cap / Silver Eq.: $0.12 $0.16 n/a $0.04
FD Mkt. Cap / Per Metal
as % Spot Price:
0.75% 0.92% n/a 0.17%

Future Valuation (Cash Flow & Totals)

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