Robin Young16 Jun 2018 03:03
If he knew in May, or even beforehand that the PFS was to be delayed yet again, he has a fiduciary duty to officially inform shareholders, without delay.
Investment decisions are made, based on what the company tell you.
Dropping it out in some obscure interview is not the way.
By not doing the above, he falls into this category,
False or misleading statements.
"No information statement shall contain any statement which, at the time and in the light of the circumstances under which it is made, is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading or necessary to correct any statement in any earlier communication with respect to the same meeting or subject matter which has become false or misleading."
RY can be forgiven for many things, due to the nature of the business, but not for failing to inform shareholders of key changes to previously stated goals.
"or which omits to state any material fact necessary in order to make the statements therein not false or misleading"
The above is where he failed, he knew last year, the info they had on Iken/Kubuk, could potentially impact the PFS, this imo is why he said "living document"
He has given no explanation for abandoning this process and it's leaving him open to strong (justifiable) criticism.