I have a question for all of you. As you are aware Rod told Al Korelin via video in late 2010 that drill results were to be released "soon" We have never seen those results. Then they spoke of their plan to initiate "PHASE I & II" drilling to further explore / enhance the pit at Song Jiagou. Again, we have never heard from them again. It is impossible then that they do not have assay results that they have been sitting on through the last couple of times that options / warrants have been issued.
Below is an email response from the company that clearly indicates Majestic has in its possession, assay results which i believe should bhe considered material and immediately released to the shareholders.
From: Varun Chandran - Majestic Gold [mailto:[email protected]]
Sent: June-09-11 7:19 PM
Subject: RE: Question
The assay results were part of a slight extension phase in order to test the boundaries of the pit. It was conducted on the North face of the pit and consisted of a few holes mainly. Apart from the video with Al Korelin & a few other discussions, we have not officially ( publicly that is) released any PR’s on this information. The delay in releasing this information was due to primarily the entire operation’s effort on initiating & finalizing a detailed mine plan as well as getting the ore stockpiled & mill in full operational order. Thus, you should not feel so frustrated with something that is minor with regards to the big picture. The big picture is Phase I drilling which has just started and has presently 1 drill as it stands.
Ok you say, we already know this. However the BCSC has recently set a precedent that says this IS NOT okay. In April 2012, the BCSC rendered a decision on Canaco basically stating that a company must immediately issue assay results as material information and that a company cannot hold onto assay results while granting themselves future options.
The last time I can find that MJS released drill tresults (per their own NR section on their website was September 2008.
I think Rod needs to be made aware we are no longer prepared to sit silently by while they benefit from this knowledge. A google search appears to reveal his corporate email address is [email protected]
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