Focus Graphite Inc.(TSXV:FMS) issued a press release to clarify its recent disclosure on the Lac Knife project after being reviewed by the Ontario Securities Commission. The Company is currently reviewing its documents in preparation of the release of a new PEA in the coming months.
As quoted in the press release:
The disclosure referred to in the OSC comment letter is found on the Company’s website (namely in the section containing information on the Project), and in various other documents such as an investor / broker update, presentations and speeches and the corporate presentation of the Company, all of which are available on the Company’s website. Such documents contained, among other, information on the Project’s capital cost, mine life, estimates on yearly production, production costs per ton and revenue potential. Most of this information was taken from historical reports prepared by previous owners of the Project before the introduction of NI 43-101 and should not be relied upon.