Constantine Metal Resources (CMR) president Garfield MacVeigh’s Nov. 18 letter wraps a kernel of truth in significant untruths and ignores extensive, related material information. The result is another company disclosure that is not “full, true and plain” as required by Canadian securities laws.
MacVeigh wrote, “We have always made it abundantly clear to our stakeholders that while there is paved road access to and from the Palmer project, a portion of the access is by gravel road.” This is nonsensical; the road is either paved or it isn’t…it isn’t. Also, for the past several years numerous statements from CMR have stated the Palmer project is “fully accessible by paved road” or written in a way to imply there is full paved road access.
MacVeigh claims the 2019 Preliminary Economic Assessment of Palmer is “abundantly clear” about road access. This ignores the literally dozens of false or misleading statements in other sources.
CMR trades on the TSX Venture Exchange, which recently ordered CMR to revise its statements to accurately state road conditions. The securities regulators clearly found that CMR’s disclosures were not abundantly clear.
CMR has been caught for its inaccurate and misleading statements. Its response to the CVN is more of the same…missing information and clever writing to obfuscate the facts.
The repeated use of similar, misleading language avoids admitting the company does not have an economical and reliable way to develop its project. We just can’t trust CMR.
Chris Zimmer
Rivers Without Borders
Alaska Campaign Director
Juneau