Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (45325)	7/20/2007 5:35:39 PM
From: E. Charters	Read Replies (1) \| Respond to of 78419

Financial Post.. Boka, a bit more detailed. I see that they pillory Zhang a bit more, Paterson's role become a bit smellier, and the actual nature of the problem is in higher relief in this tome from the Post. It was that one group of samples that is known to be bad, the Feb 21's group, and others are merely suspect, but I might add, highly so if they are connected with Zhang in his 3 year tenure. The nature of the tampering may be in fact just fiddling with digits, but the fact that certain bags were in disarray points to an iceberg "somewhere over there in the darkness and the mist" ... we must sail closer and see if we can crash into it.. That the company did not have oversight of Zhang, and that he is not an approved CDN geologist, is a bad show. This is NOT chain of custody. This is NOT secure. It is flummoxery of the 12th degree and no amount of willy wally waffling and slurred techno garble can relieve the company of responsibility. They misstepped into the deep doo-doo from the get-go. Someone, clearly, on a project this size should have had a constant watch on integrity of the samples and the people. They did not have that clear and constant watch. I think there is gold at Boka. I think JZ hisself may have fiddled with assay sheets perhaps. And samples too? "decimals shifted to the right" is a suspicion or broker talk? Is it true? The Chinese have been known to shoot people for fraud. If Zhang is found guilty this is on area where I would not complain about excessive punishment. *********************************************** "What they have discovered is there is a series of assay results that came from drilling that look as if the decimal points were actually moved to the right when they were disclosed to the public," said Wendell Zerb, an analyst at Canaccord Adams. The executives tried to interview the general manager of the project, a Chinese citizen named John Zhang who has worked for Southwestern for more than three years. But so far, he has not co-operated. "He's not forthcoming," said Mr. Black. Southwestern's stock was halted in advance of the announcement. As soon as trading resumed, investors went into a selling frenzy. The shares ended the day at $2.90, down more than 54%. The stock was down almost 30% this year before yesterday's announcement. "Historically, the Southwestern group is known in the industry as being absolutely top-notch individuals. So to me this is quite a surprise," Mr. Zerb said. He added that unlike Bre-X's Busang project, which was a new discovery, the Boka project has been picked over by thousands of local miners, and gold has been documented. Southwestern is reviewing all of its samples from Boka to determine whether any results were manipulated other than the ones released on Feb. 21. The highlight of those results was a reported intersection of 15 grams per ton of gold over 30.4 metres. ***********************