Nov 09th 2012 - Edison Investment Research today published a report on Minera Irl (MIRL.L, LSE:MIRL, LON:MIRL) entitled "Corihuarmi Beats Expectations". In summary, the report says:
On 5 November, Minera IRL released its Q312 results, stating gold production from its Corihuarmi mine of 7,660oz and cash costs of US$552/oz. Corihuarmi continues to exceed expectations and is generating cash flow for the company as it develops its Ollachea and Don Nicolas projects. As expected, the ore grade continues to be lower than previous quarters, although this was offset slightly in Q312 by higher tonnage of ore mined and stacked. As of 30 September 2012, the company had US$10.4m in cash.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »