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SWG has 100 million assets with 38m in Boka reserve. SWG lost 180m in market value in last 2 days alone.

crystal-crystal(crystal)

Now the boka reserve is under question (however, I'm quite positive that boka does have gold under the ground). The problem is, even if the reserve is largely intact, the people who sold the stock in last 2 days may still file a lawsuit.

If a similar lawsuit as CVQ were filed and won in the court, the SP would go to zero first.

(#3547@43)
Last Updated: 2007-7-20

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SWG今天Bre-X了 -colourwolf(色狼); 2007-7-19 (#3459@43)

晚了一步，在2快左右抢了点 -myice(myice); 2007-7-19 (#3462@43)

admire. nothing could stop you. :-) good luck -crystal-crystal(crystal); 2007-7-19 (#3464@43)

已经出了，运气运气 -myice(myice); 2007-7-19 (#3465@43)

70% of SWG's mineral properties are from Boka. So I won't be surprised if it drops below $2 again. It all depends on how much faith the Market has left for SWG. -crystal-crystal(crystal); 2007-7-19 (#3467@43)
那勃子接刀子啊! 要闪得快才行. -jim366(金); 2007-7-19 (#3469@43)

谁要是1.25进了就发了。我在1.00设了个小单子 -colourwolf(色狼); 2007-7-19 (#3478@43)
当然纪律是第一位的，1k来玩，长了两毛就出了，现在又回到2.8，少赚了几顿酒钱，小赌怡情吧 -myice(myice); 2007-7-19 (#3489@43)

我只有500股，卖了。以前进的1000在6.75跑了 -colourwolf(色狼); 2007-7-19 (#3479@43)

bloody bath -crystal-crystal(crystal); 2007-7-19 {186} (#3463@43)
Its chinese manager screwed SWG big time. Obviously SWG doesn't fully understand how chinese are doing mining business. It's all about tricks and good relationship with the government.

可能John Peterson下台就是因为这个 -colourwolf(色狼); 2007-7-19 (#3480@43)

A conspiracy theory -crystal-crystal(crystal); 2007-7-20 {225} (#3549@43)
I heard a rumor from my brother a couple of months ago. The local government was not happy with SWG, who would love to see SWG go. This would be a genius idea to place a mole, the manager John Zhang, in SWG, to fake the data.

bloody ---60% down .gosh -chu.ge(楚格, 海闊天空); 2007-7-19 {1650} (#3466@43)
本文发表在 rolia.net 枫下论坛Jul 19, 2007 -- Southwestern Resources Corp. (Toronto:SWG.TO - News) ("Southwestern" or "the Company") announces that its special committee of independent directors (the "Committee"), formed on July 4, 2007 because of the delay in the Boka pre-feasibility study and the resignation of its former Chief Executive Officer, John Paterson, initiated a dual track process to review all aspects of the Boka Project. This included having the Company's senior operating management attend at the project site in China to review its control procedures and results and having the same reviewed by independent mining consultants. The Committee also retained Sangra Moller LLP as independent special counsel to advise with respect to the foregoing matters.

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Based upon the results of such review to date, the Company has determined that there were deficiencies in its control procedures for its Boka Project and believes this resulted in errors in reported assay results, including those announced in 2007. Additionally, the review indicates that the integrity of certain drill core samples was compromised. As a result, the Company has dismissed John Zhang, its Yunnan based general manager for the Boka Project, and replaced him with a new appointee.

Accordingly, the Company hereby withdraws all its previously announced results for the Boka Project and advises that such results should not be relied upon.

The Company is continuing its detailed review of the Boka Project in an expedited manner, including additional field work and drilling new holes. The Company will make a further announcement when such results are available.更多精彩文章及讨论，请光临枫下论坛 rolia.net
I see a lawsuit coming for SWG. Check CVQ.TO today. 110 million class action against CVQ for its unjustified financial statement. Fair value for SWG? -crystal-crystal(crystal); 2007-7-20 {224} (#3543@43)
I believe that many SWG investors are pissed off by such a scandal. Anyone care to calculate a fair value for SWG after discounting such a lawsuit? The CEO was gone anyway. The new management might come out clean after his.

Could you tell me where you got the news about CVQ. To please? Thanks. -8sushe(安贫乐富); 2007-7-20 (#3544@43)

Globe and Mail -crystal-crystal(crystal); 2007-7-20 (#3546@43)

I think the lawsuits could cost them all the cash in bank. Then they have to raise money. This means more dilution. If this happens no one knows the bottom, maybe $2? -colourwolf(色狼); 2007-7-20 (#3545@43)

SWG has 100 million assets with 38m in Boka reserve. SWG lost 180m in market value in last 2 days alone. -crystal-crystal(crystal); 2007-7-20 {334} (#3547@43)
Now the boka reserve is under question (however, I'm quite positive that boka does have gold under the ground). The problem is, even if the reserve is largely intact, the people who sold the stock in last 2 days may still file a lawsuit.

If a similar lawsuit as CVQ were filed and won in the court, the SP would go to zero first.

This time I am right, just I didn't expect so fast. There is a class action filed today, against SWG for $220 million. It doesn't matter who wins, but sure enough SWG will kiss their $33m in bank good-bye soon -colourwolf(色狼); 2007-7-20 (#3551@43)

I just read the same news on Globe and Mail. The funnier story is about the CEO's brother. Incredible that he is both stupid and rich. Now lawyers will get good business. hehe. -crystal-crystal(crystal); 2007-7-21 (#3553@43)
Not sure if the lawsuit has more merit than others. However, this will be ugly and SWG has to pay big money to lawyers at least. If we can find some previous similar lawsuits, we may have some good ideas about it. -crystal-crystal(crystal); 2007-7-21 {49} (#3554@43)
I don't like to short stocks. So I wish SWG well
Unlike Bre-x, Boka should have good gold reserve. The site is located along the Jinsha (gold sand) river. Even in ancient time, farmers were mining gold along the river. Before SWG, some farmers in Boka made millions Yuan in half a year. -crystal-crystal(crystal); 2007-7-21 (#3555@43)

SWG has 100 million assets with 38m in Boka reserve. SWG lost 180m in market value in last 2 days alone.

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