Atacama Resources International Inc (ACRL)

[Tiresias]

I agree but disagree. The lands were promoted in the Executive Summary, a document prepared to solicit participation in the Class B Preferred Share Offering, therefore even though no assay existed for those finds, the highly speculative results put forward by Atacama Resources in an obvious attempt to bolster the share price (Mr. Grant himself declared, even though it was contrary to regulations, those shares were worth at least $1.00 per share and investors could not lose), therefore could be the basis of the complaint. Once those highly promoted lands were no longer going to be part of the strategy going forward, the public should then have been informed. It was a material event releasing the highly speculative assay results which resulted in higher volume and a higher share price. A reasonable investor is not expected to be an expert and places their trust in the opinions and disclosure declared by the company. We can go from a misrepresentation of fact to an omission of fact very quickly. Had a reasonable investor known the requirements for making such a claim that is different but reasonable and expert are two different things. Reasonable investors often are taken advantage of, and at times, as seen in the greatest Canadian mining swindle of all time, Bre-X resulted in stiffer disclosure requirements for Canadian miners and those issuing shares of mining companies in Canada that now have the most rigorous mining disclosure requirements in the world. Some experts also were taken advantage of worldwide relying on the assay results from Bre-X. Off to celebrate Portugal choking against Serbia yesterday. The Spanish love it when their arch rivals choke.