Junior gold company Red Pine vows to regain investor trust after accusing former CEO of tampering with gold assay data – by Niall McGee (Globe and Mail – May 16, 2024)


Junior gold company Red Pine Exploration Inc. RPX-X is vowing to work to regain the trust of investors after accusing its former chief executive officer of tampering with its gold assay data over the course of a decade.

Toronto-based Red Pine first raised questions about its assay figures on May 1, saying it found inconsistencies in some of its drilling results at its Wawa gold project in Ontario. The company’s stock immediately lost 60 per cent of its value.

Last Friday, the company alleged that Quentin Yarie manipulated hundreds of gold assay results going back to 2014 that overestimated the size of its resource by up to 12 per cent. Mr. Yarie stepped down as chief executive officer in February, and had been with Red Pine since 2015.

Mr. Yarie did not respond to a request for comment. On Wednesday, the company provided more information about the alleged tampering, revealing that Mr. Yarie manipulated 382 assay results between 2019 and earlier this year by increasing the grade of gold at select drill holes.

For the rest of this article: https://www.theglobeandmail.com/business/article-junior-gold-company-red-pine-vows-to-regain-investor-trust-after/