TORONTO (miningweekly.com) � TSX-V-listed BE Resources (BER) on Monday said that the assay results it reported last week from its Warm Springs project in New Mexico contained �mathematical errors�, with some drill holes containing one-tenth of the rare earths grades it previously said they had.
While the firm did not detail what the mathematical mistakes were, it appeared that for some drill hole's numbers, the comma had been put in the wrong place.
For example, in Friday�s news release, BER said drill hole three had an intersection of 19.58% total rare earths, which would have been a spectacularly high grade as far as rare earth deposits go.
In Monday�s corrected version, this was changed to 1.95%.
For a separate intersection, from drill hole three, the total rare earths figure was changed to 0.91% from 9.1%, while yet another drill hole three intersection was cut to 0.78% total rare earths from 7.8%.
Drill hole two, meanwhile, saw its contained rare earths slashed from 10.34% to 1.56%.
BER had touted Warm Springs as a beryllium project with rare earths potential.
BER�s share price escaped inevitable punishment on Monday, as it remained under a trading halt throughout the day.
Given the fact that it rose over sevenfold on Friday�s incorrect news, investors will likely give the stock a beating once trading resumes.
Shares in the company closed at C$0.75 apiece on Friday, nearly ten times higher than the previous day�s close of C$0.085, under heavy trading volumes.:)
Didn't we recently got trenching TREO of 19 something %? Man,possible 10 baggers,if we don't get the decimal point wrong,lol!
BFE Price at posting:
11.3¢ Sentiment: LT Buy Disclosure: Held
