PDAC-UPDATE 1-Minera IRL to seek Toronto stock listing

* Sees listing in Toronto within a month

* Plans to raise equity capital of $30 million

* Eyes up to 200,00O oz per year gold output by 2014 (All figures in U.S. dollars)

By Pav Jordan

TORONTO, March 11 (Reuters) - Minera IRL Ltd (MIRL.L) (IRL.LM), a gold miner listed in Peru and London, plans a co-listing in Toronto within the month as it seeks to boost liquidity with an eye on aggressive growth over coming years.

Minera IRL Executive Chairman Courtney Chamberlain told Reuters in an interview in Toronto that the company could seek to raise equity capital of about $30 million shortly after that, although that will depend on market sentiment at the time.

The cash is needed to help bring its two main projects to full feasibility.

Minera IRL currently has one gold mine in production, Corihuarmi. The mine in southern Peru produces about 50,000 ounces of gold per year and accounts for most of Minera IRL's cash needs, but production is seen winding down there toward 2013.

That is when Chamberlain expects to have the Ollachea project up and running in Peru and the Don Nicolas mine producing in Argentina.

"Our most important project is Ollachea," Chamberlain said. "We've been drilling it since October 2008 with two rigs continuously, and it looks very good. It looks like we can do around 120,000 ounces a year at $400 an ounce."

Chamberlain, who divides his time among Lima, London and Toronto, said the company aims to be producing as much as 200,000 ounces of gold per year as of 2014.

At Don Nicolas, to be in production by late 2012, Minera IRL will see output of around 60,000 ounces a year, also at $400 cash cost.

Minera IRL has about $13 million in the bank, but is spending money faster than it can make it and it is hoping a Toronto listing will draw the attention of the world's largest mining investment base.

The company has an $8 million exploration budget this year as well, further driving costs.

Chamberlain said the company was not interested in raising debt capital.

The company has hired Cormark Securities as its lead investment banker.

Against the backdrop of sustained prices above $1,000 an ounce, and with some pundits saying it could go to five times that, the global gold market is in a frenzy to churn out the metal.

Chamberlain was in Toronto for the annual Prospectors and Developers Association mining conference, which this year drew 22,000 miners, explorers, bankers, government delegates and other players. (Reporting by Pav Jordan)