GREY:RDEMF - Post by User
Comment by
wiseyoungmanon Jul 05, 2017 3:29pm
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Post# 26436605
RE:Risky Business
RE:Risky BusinessOne more thing on this great post by KnottyOyster,
Its funny how audit firms get class action lawsuits all the time for accounting irregularities however mining engineer firms almost never face such. Why? If this FS was flawed due to gross imcompetence in not understanding geology, and the FS was in accordance with 43-101 standards filed on SEDAR. These standards are national securities laws in Canada and it was filed publically on SEDAR. Investors based their decision on this document. This screw up is not based on financial numbers in the audited financial statements. I recall one instance, which I cannot recall, where a engineering firm was sued. If in fact there was gross negligence, all investors who invested during a specified period and suffered losses should be able to take part. Again, I am not an expert, but if there was gross negligence?? The Company has not pulled the FS as being unreliable so that document is still out there? I am just posing this out to the board.
This screw up should never have happened. The mine was rushed by management because they were running out of money. Management was also too aggressive in buying properties via RD Exploration company.
GLTA