New Guinea Gold Corporation: Files Amended and Restated Financial Statements
14 Octubre 2011 - 4:21PM
Marketwired
New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) ("NGG"
or the "Company") announces that as a result of a review by the
British Columbia Securities Commission ("BCSC"), we are issuing the
following press release to clarify our disclosure. The Company has
now filed on SEDAR amended and restated unaudited interim financial
statements and management's discussion & analysis ("MD&A")
(collectively the "Amended Documents") for the periods ended
December 2010, March 31, and June 30, 2011.
The majority of the disclosure deficiencies related to the
information required to be disclosed as a result of the transition
from Canadian GAAP to International Financial Reporting Standards
("IFRS") and to comply with National Instrument ("NI") 43-101
Technical Reporting requirements. Specifically, the changes were
made to rectify certain errors in reporting and allocations.
December 2010 MD&A
This document has been amended to clarify the Company's position
and performance and to better meet the standards under which it
reports. In particular, it has been amended to ensure that the
content is compliant with the disclosure requirements of NI 43-101.
More detail has been provided in relation the Company's operations
and forward-looking statements.
March 2011 Financial Statements
This report has been amended in response to requests made by the
BCSC to provide a clearer representation of the Company's position
and performance for the reporting period and to clarify the
transition from Canadian GAAP to IFRS.
March 2011 MD&A
This document has been amended to clarify the Company's position
and performance and to better meet the standards under which it
reports. More detail has been provided in relation the company's
operations and forward-looking statements.
June 2011 Financial Statements
The following report has been amended in response to requests
made by the BCSC to provide a clearer representation of the
Company's position and performance for the reporting period and to
clarify the transition from Canadian GAAP to IFRS.
June 2011 MD&A
This report was amended in response to requests made by the BCSC
to provide a clearer representation of the Company's position and
performance for the reporting period and to clarify the transition
from Canadian GAAP to IFRS. More detail has been provided in
relation the Company's operations and forward-looking statements.
During the review a number of accounting errors were discovered and
these have been corrected in these revised and amended statements.
These adjustments pertain to the carrying value of Investments and
Inventories.
For further information on this release or on other NGG projects
such as the Sinivit Gold Mine, please contact
info@newguineagold.ca, or access our website -
www.newguineagold.ca.
ON BEHALF OF THE BOARD
Greg Heaney, ACTING CEO
Forward Looking Statements - Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of NGG,
including, but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices,
risks associated with the uncertainty of resource and reserve
estimates, currency fluctuations, dependence upon regulatory
approvals, the availability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: New Guinea Gold Corporation Greg Heaney Acting CEO
+61(7)5592.2274 +61(7)5592.2275
(FAX)info@newguineagold.cawww.newguineagold.ca
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