Helio Resource Corp.(TSXV:HRC) announced that in light of a recent review by the British Columbia Securities Commission, it has to clarify some previously disclosed public information.
As quoted in the press release:
- Preliminary Economic Assessment (“PEA”) – certain information available from the Company’s website (corporate presentation, project overview) required additional disclosure. All such requirements have now been corrected on the Company’s website. The PEA results which were announced on September 13, 2012 include a Base Case and Upside Case evaluation. The Company reiterates that the Upside Case requires geotechnical drilling to confirm the viability of a 55 degree pitwall, allowing extraction of ~800,000 ounces.
- Wherever on the website the Company mentions the Upside Case for the SMP PEA the same cautionary disclosure, i.e. pitwall viability, is now used.
- The Company has removed reference to potential resource size for the SMP Gold Project.