On Monday, it confirmed that those issues are “unrelated to the integrity of its quality assurance/quality control (QA/QC) measures” with respect to the drill core samples collected from Wawa and transported to Activation Laboratories in Ancaster, Ontario.
The company added that it is confident the assay results provided by Actlabs “were correct” and accordingly, can be relied on.
Its stock rebounded in the morning hours of trading, up 26.7% to C$0.095 a share by 10:30 a.m. ET, taking its market capitalization to C$17 million. The shares had dropped from C$0.20 apiece to a 52-week low of C$0.075 since last Wednesday.
The noted issue, according to Red Pine’s management, was specific to certain inconsistencies between some of the certified assay results received from Actlabs and the corresponding assay results reported by the company in applicable press releases, other disclosure documents and the project assay…
