GREY:RIVVF - Post by User
Post by
thisldu3on May 07, 2012 10:46am
259 Views
Post# 19879406
I think we need some answers
I think we need some answers
FP says Extorre, others have regulators on their case
2012-05-07 07:24 ET - In the News
See In the News (C-XG) Extorre Gold Mines Ltd
The Financial Post reports in its Saturday edition that securities regulators have been sending a harsh message to junior miners that there will be consequences if they do not follow precise disclosure rules related to their projects. The Post's Peter Koven writes that miners have lost out on financings after getting in the crosshairs of securities commissions, a development that only adds more risk to an already risky business. The crackdown is a reminder that caution is always warranted when looking at how companies interpret drilling results, economic assessments and other information. Provincial regulators have recently gone after a long list of juniors for alleged lapses. Some of the most talked-about names include Extorre Gold Mines, Rio Novo Gold, Karnalyte Resources, Orbite Aluminae and Clifton Star Resources. The Post says none of them have categorically denied making mistakes. The British Columbia Securities Commission, among others, decided a year ago that it needed to get more aggressive in fixing disclosure issues. Investors need to recognize that juniors can make spectacular discoveries, but still find ways to derail their projects that have nothing to do with geology.