TORONTO, ONTARIO--(Marketwired - July 10, 2014) - KWG Resources Inc. (TSX VENTURE:KWG)(FRANKFURT:KW6) retracts from its press release issued this morning, the following advice: Well-known mining analyst Jay Turner recommends the shares of KWG as a speculative buy with a target price of $0.20.
The earlier release advised that Toronto stockbroker Pope & Company announced this morning that it has initiated research coverage on KWG. A Market Surveillance Officer of the Investment Industry Regulatory Organization of Canada ("IIROC") required that the noted recommendation contained in the initial report be retracted as this is considered not to be balanced disclosure on the part of the Company.
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG has also acquired interests in provisional patents including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Shares issued and outstanding: 777,512,273