News Release
TSX Venture Exchange-listed mining company fails to meet mining disclosure standards
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Date:
2003-11-19 -
Number:
2003/78
Vancouver – The B.C. Securities Commission has ordered a mining company to pay $20,000 for failing to meet national mining disclosure standards.
Alhambra Resources Ltd., a mining firm listed on the TSX Venture Exchange, issued a mine production announcement and a forecast of gold production regarding its Uzboy Project in Kazakhstan that was not in accordance with the mining disclosure standards.
After retracting the non-compliant information, Alhambra’s chief executive officer and a director repeated the information in an interview with a website operation which broadcasts interviews with company officials over the Internet.
In settling with Alhambra, the BCSC took into account that the company “has made every effort to ensure their disclosure is in full compliance with all relevant securities rules and that it is based on independent engineering reports.”
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the settlement can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Andrew Poon, Media Relations, 604-899-6880.