The fact that Guido misstated the reserve calculations was unfortunate, but the SEC acted due to a trigger scenario like this:
Guido walked in with a bagged loaf of bread and calculations as to it's exact weight. The SEC took out the loaf, shook out all the crumbs and said to Guido, looks like you counted a couple crumbs twice.
Says Guido in his defence whoops I really screwed up, but what about the fact that in my report it states that we've only brought you a small loaf, there's still plenty of bread down in Bolivia, give me a break!
Actually he said in his report, The lowest of the assays obtained was always used instead of the average.
-- On all ore block modeling Paravicini used between 30% and 40% of
the indicated cubic meterage as indicated by topographical
data to ensure conservative calculations.
If MINE can get financing and soon, this whole matter will be a silly little blip. If they can't and have to sell out, well that could mean big money faster than if they did have money, certainly not hundreds of dollars per share, but still big profits. IMHO
Cheers, Jon
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