The Vancouver Stock Exchange has reviewed the activities of several junior companies and expressed concerns related to their disclosure and promotional activities.
Trading in Regeena Resources (RGA-V) was halted in early June after the exchange’s review raised a number of concerns. The exchange says the company failed to provide independent verification of its disclosure regarding reserve estimates. Other concerns were the lack of mining expertise on the board and undisclosed market activity by certain insiders. These matters may be referred to the British Columbia Securities Commission (BCSC).
About the same time, shares of Redell Mining (RDC-V) were suspended from trading after a review of its activities. In particular, the VSE was concerned about the company’s inability to provide independent verification of its disclosure regarding reserve figures for the Mount Freegold project in British Columbia. Another concern was various misrepresentations about the project made by the company to shareholders and the public. These matters may be referred to the BCSC.
Meanwhile, the Alberta Exchange halted trading in Naxos Resources (NXR-A) after testing some samples from the company’s California property. The assays showed little or no gold, thus casting doubt on the credibility of Naxos’ previously disclosed results obtained from unconventional assaying procedures.
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