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Topics News & Markets

Minera IRL to raise $30 million to advance gold projects in Peru, Argentina

By The Canadian Press | February 17, 2012

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TORONTO - Minera IRL Limited, a TSX-listed company focused on gold mining in Latin America, plans to raise up to $30 million in an issue of shares.

The money, in Canadian dollars, will be raised from investors in the United States and Britain and will be used to develop projects in Peru and Argentina.

Minera said Friday it has filed a preliminary prospectus to regulators on the planned share issue.

Shares of the company were halted on the TSX pending news.

RBC Capital Markets, a division of the Royal Bank of Canada, is leading the underwriting group on the proposed placement.

Minera operates the Corihuarmi gold mine and the emerging Ollachea project in Peru as well as the Don Nicolas project in Argentina.

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