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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.95+0.8%Jan 9 4:00 PM EST
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To: Casey who wrote (454)7/11/1997 9:38:00 AM
From: mikesloan   of 116846
 
From another thread

To: Jim Somerville
From: jerry janko
Jul 10 1997 9:54AM EST
Reply #122 of 126

From: newsout@canada-stockwatch.com
Date: Thu, 10 Jul 1997 06:33:29 -0700
Subject: Stockwatch: Redell Mining Corp - In the News
To: ajanko@erinet.com

Van Sun says two ex-directors charged with fraud

Redell Mining Corp RDC
Shares issued 13,257,323 May 10/96 close $2.75
Thu 10 Jul 97 In the News
The Vancouver Sun reports in its Thursday edition that two former directors
of a mining company listed on the Vancouver Stock Exchange have been
charged with fraud concerning the amount of gold in a Yukon mining claim.
Reporter Neal Hall says that Glen Elmo White of Vernon and David Walford
Thomas of Surrey are each charged under the Securities Act with one count
of fraud and 20 counts of misrepresentation concerning the amount of gold
in Redell Mining's mineral claim in the vicinity of Mount Freegold. Mr
White is the former v-p of Redell and Mr Thomas was the president. The
alleged misrepresentations inflated gold reserves by up to 900 per-cent in
various news releases and promotional materials issued between September
1994 and April 1996. During this time, the company raised about $3 million
in financing through private placements. The stock price shot up from less
than $1 and peaked at $6.62 in February 1996. Trading was halted in May
1996 after an investigation began.
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