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Minera IRL to raise C$32m to fund Peru development

28th January 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – TSX-, Aim- and Lima Stock Exchange-listed Latin American gold-mining company Minera IRL was looking to raise some C$32-million through the sale of ordinary shares in the company.

The proceeds from the offering would largely be directed towards funding the early development costs of its Ollachea project, in Peru, which, following the completion of a successful definitive feasibility study late last year, was in the permitting stage.

The offering would be marketed in the UK, the US and in certain jurisdictions in South America on a private placement basis.

It would be conducted on a marketed basis through a syndicate of investment dealers led by RBC Capital Markets.

Further, Minera would grant the agents an over-allotment option to purchase additional ordinary shares equal to 15% of the number of ordinary shares sold.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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