Business
Diamond Fields International Ltd. - Default Status Report Pursuant to CSA Staff Notice 57-301
Diamond Fields International Ltd. - Default Status Report Pursuant to CSA Staff Notice 57-301.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\n\nSYMBOL: DFI\n\nCAPE TOWN, South Africa, Oct. 12 /CNW/ - Diamond Fields International\nLtd. (DFI:TSX) (\"DFI\" or the \"Company\") is filing this Default Status Report\npursuant to CSA Staff Notice 57-301 Failure to File Financial Statements on\nTime - Management Cease Trade Orders (\"57-301\") in respect of the Company's\ninability to file its annual audited financial statements for the year ended\nJune 30, 2006 (the \"Annual Financial Statements\") by the deadline of\nSeptember 28, 2006 as required by National Instrument 51-102 Continuous\nDisclosure Obligations. Further to the Company's application under 57-301, on\nSeptember 29, 2006 and October 3, 2006, the British Columbia Securities\nCommission and the Ontario Securities Commission, respectively, issued cease\ntrade orders restricting trading in the Company's securities by specified\ninsiders of the Company only, which orders will remain in effect until the\nCompany files the Annual Financial Statements and related annual filings. This\nDefault Status Report is being filed to update the Company's Notice of Default\ndated September 29, 2006 (the \"Notice of Default\"), as required by 57-301.\nAs a result of the factors noted in the Notice of Default, the Company\nhas been unable to complete the Annual Financial Statements and related annual\nfilings by the previously anticipated target date of October 12, 2006, and now\nexpects to file the Annual Financial Statements by October 20, 2006. In\naddition, as a result of the delays in completing the Annual Financial\nStatements, the Company anticipates a delay in filing its interim financial\nstatements for the three-months ended September 30, 2006 (the \"Interim\nFinancial Statements\") which are due by November 14, 2006.\nThere have been no other material changes to the information contained in\nthe Notice of Default nor is there any material information concerning the\naffairs of the Company that has not been generally disclosed. The Company\ncontinues to use its best efforts and all available resources to complete the\nAnnual Financial Statements as soon as possible, and thereafter will use its\nbest efforts to complete the Interim Financial Statements by the November 14,\n2006 deadline or as soon as possible thereafter.\n\nDIAMOND FIELDS INTERNATIONAL LTD.\n\n\"Roger J. Daniel\"\n\nRoger J. Daniel, President and C...