Post by
ekim on Dec 16, 2014 12:18pm
Case in point - KDI
I've harped on more then one occasion how PGD's mgmt have to be extremely careful in releasing news and complying with NI 43-101.
KDI just got on the naughty list this year.
"As a result of a review by the staff of the Ontario Securities Commission, Kennady Diamonds is retracting and clarifying disclosure in a recent corporate presentation. The presentation presented projections of tonnage and grade potential of the Kelvin-Faraday kimberlite corridor, which is a target for further exploration and not a mineral resource. These projections should have been provided within a range for tonnage and grade, as well as cautionary language. In addition, the Kelvin-Faraday projections were compared with the mineral resource estimates for more advanced projects. The Kelvin-Faraday tonnage and grade projections are now provided on a stand-alone basis and will not be compared with more advanced projects."
Oops.
EKIM
Comment by
mill44 on Dec 16, 2014 12:33pm
You can also see that they are retracting and clarifying it but are not correcting it. What's said is said, they can come out later and say "oops, we said too much, sorry, but that does not make it false." KDI is a strange one anyways. It does not seem to be a retail stock. I would not try to trade it.