Zurück
OSC bans geologist Boily for altering assays
2013-04-01 13:28 ET - Street Wire
See Street Wire (C-*OSC) Ontario Securities Commission
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
The Ontario Securities Commission has secured a permanent ban and $800,000 in fines for Bernard Boily, a geologist who altered 140 assay results for Bear Lake Gold Ltd. in 2009. The sanctions are part of a settlement announced Thursday in which Mr. Boily has admitted that he overstated assays from the company's Larder Lake project by as much as 2,400 per cent. He has agreed to a permanent ban from serving as an officer or director of a public company, and has agreed that he will never again act as a qualified person.
The penalties come almost four years after Bear Lake investors first learned about problems at the company's flagship Larder Lake project. In a July 21, 2009, news release, the company said that it had become aware of inconsistencies in its previous results, and that the actual results could be substantially lower than reported. The stock, which was halted for the release, quickly dropped upon resuming trading. It fell to 24 cents from 71 cents in one day, with the company losing $42-million in market capitalization.
The remainder is available to Stockwatch subscribers. Click the yellow link above for a free trial subscription.
--------------------------------------------------
Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.
2013-04-01 13:28 ET - Street Wire
See Street Wire (C-*OSC) Ontario Securities Commission
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
The Ontario Securities Commission has secured a permanent ban and $800,000 in fines for Bernard Boily, a geologist who altered 140 assay results for Bear Lake Gold Ltd. in 2009. The sanctions are part of a settlement announced Thursday in which Mr. Boily has admitted that he overstated assays from the company's Larder Lake project by as much as 2,400 per cent. He has agreed to a permanent ban from serving as an officer or director of a public company, and has agreed that he will never again act as a qualified person.
The penalties come almost four years after Bear Lake investors first learned about problems at the company's flagship Larder Lake project. In a July 21, 2009, news release, the company said that it had become aware of inconsistencies in its previous results, and that the actual results could be substantially lower than reported. The stock, which was halted for the release, quickly dropped upon resuming trading. It fell to 24 cents from 71 cents in one day, with the company losing $42-million in market capitalization.
The remainder is available to Stockwatch subscribers. Click the yellow link above for a free trial subscription.
--------------------------------------------------
Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.
