RE: RE: RE: RE: How sad is really, really sad? "So If the BSC reviewed the report then why has it been retracted again?
Looks like management has screwed up somehow again, and all since SDykes left."
The now-vanished website seemingly contained many, many errors in regards to the purported properties shown as being owned by MSQ.
I don't know if the latest news release even correctly addresses what the BCSc was concerned about, but the matters addressed in the 2009-5-14 news release could not have been the November 18, 2009, and June 13, 2011, supposed compliance issues mentioned in the April 23, 2012, news release.
Until the website is back up and until the BCSc updates their website to show that 04-11-2012 1k default is cleared, I'd recommend sitting back and seeing what the next company news release says.
Suggesting that the technical reports may be at fault when it may actially have been the website touting of total ownership of long-sold properties which the BCSc is complaining about could just be more innuendo and bafflegab. Afyer having seen the directors' circulars and other bizarre news releases relating to the dissident slate over the last six months, I wouldn't think that some of the current management could even do a good job of filing their nails.
2012-04-24 00:15 ET - News Release
Mr. Brian McClay reports
MOSQUITO CONSOLIDATED GOLD MINES LIMITED: CLARIFICATION AND RETRACTION OF TECHNICAL DISCLOSURES
Mosquito Consolidated Gold Mines Ltd., as a result of a review by the British Columbia Securities Commission, is issuing the following news release to clarify and retract certain disclosures made pertaining to exploration results, conceptual exploration targets, and economic analyses of mineral resources and reserves at the company's various mineral properties.
The BCSC identified National Instrument 43-101 compliance issues on the company's website and investor materials with respect to the company's properties. It also identified NI 43-101 compliance issues with the company's technical reports on the company's Cumo property dated Nov. 18, 2009, and updated June 13, 2011. With respect to the Cumo reports, the company plans to file restated reports to correct consent and certificate issues pertaining to the reports' independence and author's responsibilities, and to clarify the status of economic analyses. The corporate presentation and corporate fact sheet on the company's website disclosed indicated and inferred mineral resources but failed to include the grade of each category.
Mosquito retracts Cumo economic analysis
2009-05-14 12:24 ET - News Release
Mr. Bill Jefferies reports
As a result of a review by the British Columbia Securities Commission, Mosquito Consolidated Gold Mines Ltd. is issuing the following news release to clarify its disclosures on its website.
The company retracts its prior disclosure of the results of a preliminary economic analysis for the Cumo project, including production rate, mine life, capital and operating costs, internal rate of return (IRR), net present value (NPV) and after tax profit, and any implication that its resources have been qualified as mineral reserves. The company disclosed such information on its website and in investor materials. The company's disclosure did not provide the cautionary language required by National Instrument 43-101 for a preliminary assessment, and consequently the analysis appeared to confer economic viability and qualify a mineral reserve. The company clarifies that the in-house analysis completed so far was never considered material by the company, it was not suitable for public disclosure, and it should not have been relied on. An independent preliminary assessment is now under way. The company will issue a news release to disclose results of its economic analysis when the analysis reaches a stage where it becomes material to the company.