Witholding results? From the look of the quote below the BCSC seems to have the same concerns that some retail investors have had, and that is that results were not released on a timely basis. With all the money in the bank, did managment become too arrogant? Would they be so difiant with the BCSC if CAN were low on funds. It certainly is easier to be arrogant with others money when don't have to spend your own. Smith had cashed a big bonus chq, he and the others should come out and pledge to pay for their own defence, that would give investors more confidence that they did not intentionally mean to act improperly, as it pertains to BCSC rules. What happens if the BCSC digs its heals in because of managements attitude towards the matter? What if they broaden the investigation and chech the trading patterns around all of the NR's. Who suffers? shareholders. Meg has said that there will be 400 holes in the 43-101 which is three weeks away. That leaves a lot of holes to release in a short time frame, more than they have released in this short of time frame in the past. Are we to believe that magically 50+ holes will appear all of a sudden, or are those being held as well?. I would think that it would take a couple of weeks to incorporate those holes into the 43-101 Where are they? Its nice to see the BCSC take action on these types of activities, but there are a lot of companies who don't seem to not draw their attention, I wonder why? ALL IMHO
The executive director maintains that between November 22 and November 29, 2010, Canaco became aware of assay results from eight new drill holes at its Magambazi claim. In the opinion of Smith, Smallwood, Parsons, and Lock, the drill results were "spectacular", "just beautiful", "fantastic news" and "big results".
Canaco delayed and staggered the disclosure of the results by issuing three separate news releases on December 6, 9 and 22, and the company's share price rose in reaction to each release. Canaco did not file a material change report with respect to the assay results.