Business
Minera IRL Reports Q1 2022 Financial Results
LIMA, Peru, May 13, 2022 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) is pleased to announce that it has today
About this update from Minera Irl Limited
[{"type":"text","content":" LIMA, Peru, May 13, 2022 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) is pleased to announce that it has today filed on SEDAR its unaudited consolidated financial statements and corresponding management’s discussion and analysis (“MD&A”) for the period ended March 31, 2022. Financial Results for the Period Ended March 31, 2022 A summary of the Company´s financial results for the first quarter ended March 31, 2022, are as follows: Quarter ended 31 March 2022 2021 Revenue ($’000) 9,425 10,378 Gold sold (ounces) 5,067 5,875 Realized gold price ($ per ounce ) 1,860 1,766 Gross profit ($’000) 1,293 3,119 After-tax loss ($’000) (1,082) (1,181) Loss per share (cents) (0.5) (0.5) *Note – All of the results presented are prepared under IFRS and are in United States dollars. During Q1 2022, the Company reported sales revenue of $9.4 million compared with sales revenue of $10.4 during Q1 2021. This 9% decrease was due to the combined effect of a 5% increase in the average price of gold sold and a 14% decrease in the number of gold ounces sold. Total gold production from Minera’s Corihuarmi mine decreased by 14% from 5,487 ounces in Q1 2021 to 4,736 ounces in Q1 2022. Gold sales during the first quarter of 2022 were comprised of 5,067 ounces of gold (Q1 2021: 5,875 ounces of gold) at an average realized gold price of $1,860 per ounce (Q1 2021: $1,766 per ounce). The annual production target of 23,000 ounces of gold for 2022 remains unchanged. For full details on the financial results of the Company for the first quarter ended March 31, 2022, see Minera’s unaudited consolidated financial statements and MD&A that have been filed on its SEDAR profile at www.sedar.com and with the Lima Stock Exchange. About Minera IRL Limited Minera IRL Limited is the CSE and BVL listed holding company of Minera IRL S.A. and Compañía Minera Kuri Kullu S.A., two precious metal mining companies engaged in mining exploration, development, and operations in Peru, with a primary focus on gold. Minera is led by an agile and experienced senior management team with extensive mining industry experience, particularly in South America. Minera operates the Corihuarmi Gold Mine located 5,000 meters above sea level in Central Peru while assessing opportunities to advance its Ollachea Gold Project l...