The point about their statements is exactly the main point-that they are misleading,,and what will get the company in trouble with the SEC engineering department at some point.And my main gripe that they do not make timely or material disclosure, and then make promotional disclosure the SEC will frown upon- and in the end does company no good anyway.
They may try to cover themselves with all sorts of disclaimers, but there is a clear pattern of unreasonable projections not being met, and then on top of that overly-promotional press releases throwing out values in the ground without sufficient analysis and disclosure,and untimely disclosure. Do they have a PEA ( preliminary economic assessment), pre-feasibility report ? Where is all the information required to be disclosed according to SEC Guide 7 ? If they have measured and indicated resources, then why do they not report mineralized material on their SEC filings with proper supporting information ?
The USA reporting system requires timely fair disclosure of material information and following SEC guidelines. This company touted the mill going into production in 2013, but as far as I can see took their sweet time indicating amount required to do so which clearly they cant raise.Obviously it is material to this company they need $3 million to re-activate the mill.
AI
