RE: Answers for StockArchAngelThanks for the prompt reply. See inline comments:
1) Harp did not knowingly release false numbers.
Didn't think so, but the error is glaring, almost incomprehensible.
2) Bob Moriarty is not a director, officer or employee of the company, he has no official capacity with the company and should never see results before they are released to the public. Bob has a very good gold bug following but he is not a geologist or a mining engineer, he is however very knowledgeable and has a lot of practical experience in the field.
As a major shareholder, cheerleader, and, I'm assuming arms-length "advisor," he should have been informed IF he asked to see the NR & numbers prior to release. A simple NDA would have sufficed from a legal standpoint and probably prevented this whole mess.
3) The company did a bad job communicating the restated results, but the new numbers are correct and verified by the lab. The company is not blaming the lab at all, there was a communication breakdown between the lab and the company but the mistake/fault is DLKM’s.
I've already agreed that the new numbers are correct, and I'm glad DLKM is accepting full blame. You're right, the last NR was pathetically worded.
4) The error was confirmed on Thursday release went out on Monday, that's an acceptable delay given that it needed to be passed by legal.
Release came out Tuesday evening - should have come out on Friday. No excuses work here.
5) The stock is off 10%, the original release had a cautionary statement regarding the average grade, no reason to be worried about lawsuits. You would like to think that Investors wouldn't buy stock solely based on 6 soil samples.
Investors assume assays, no matter the sample size, done in a credible lab, are correct, and present a microcosm of the potential. When you reduce that by 90% because of error, miscommunication, or whatever, you can be sure they're going to be ticked off. It should NEVER happen, no matter the excuse.
6) Bob Moriarty's opinions and support are important to the company, Harp will step down when a CEO candidate is found that can take the company to the next level. Until that time Harp is the heart and soul of this company and he is not going anywhere.
He sure sounded upset, if we are to believe the posted emails. Has he been in touch with Harp? I'm hoping they can settle this situation - the relationship can't be good at this point. No question Harp has done a lot and deserves to see this
7) Closing date on the property is June 30, 2008.
Looking forward to it, as well as an NR confirming the $6 million are in the bank.