Junior gold company Red Pine vows to regain investor trust after accusing former CEO of tampering with gold assay datais vowing to work to regain the trust of investors after accusing its former chief executive officer of tampering with its gold assay data over the course of a decade.
Paul Martin, the chairman of Red Pine, said in a conference call on Wednesday that he and his team were “devastated” to learn of the tampering scheme, and acknowledged it has caused the company “significant reputational harm.” The alleged manipulation was carried out “in a sophisticated, selective and isolated manner,” Mr. Martin said in the call on Wednesday.
The B.C. Securities Commission banned Mr. Paterson for life from acting as a company officer or director.