Focus Graphite Inc. (TSXV:FMS) announced clarifications on its recent technical disclosure regarding its Lac Knife project. Focus also announced that the Ontario Securities Commission has issued a Management Cease Trade Order.The Company is currently in default after failing to file its Technical report.
As quoted in the press release:
For the Company, this will involve the filing of a technical report prepared in accordance with National instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″) to support its previous disclosure of the outcomes of a study that includes an economic analysis of the potential viability of mineral resources on the Project. On October 2, 2012, the Company issued a news release to provide an update on the timing of the release of its NI 43-101 compliant Preliminary Economic Assessment (“PEA”) and supporting technical report (the “Technical Report”) for its Project. As announced, Roscoe Postle and Associates (“RPA”) is completing the PEA and Technical Report on the Project.