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Two million shares sold early in the day. Probably Frank selling shares to pay for his trip to China to negotiate with the Bank of China for the rail funding. Dropped the share price 50%.
When the north was very buisy with exploration the time for results fromm drilling could be months but with little or no drillng going on the asay turn around results should be only a couple of weeks. Something up or the old saying of {no news is bad news) may be goimg on.
TORONTO, CANADA--(Marketwired - Dec. 23, 2016) - At the request of IIROC, KWG Resources Inc. (CSE:KWG) (FRANKFURT:KW6) ("KWG"), would like to clarify disclosure in news release #250, issued December 22nd, 2016. The company would like to retract the following statement. 'This Press Release contains disclosure required and approved by the Investment Industry Regulatory Organization of Canada which dictated that we remove an extrapolation of 30% chromite in 343.4 million tonnes into pounds of recoverable ferrochrome, or their in-situ value. However, we were required to add: "Please note, this reporting by the Globe and Mail, which we believe to be erroneous, does not meet the requirements for the reporting of mineral resources or mineral reserves as required by publicly reporting companies in Canada like KWG and Noront."'
M. J. (Moe) Lavigne, P.Geo., KWG's Vice-President of Exploration & Development, is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
Shares issued and outstanding: 966,320,281