The BC Securities Commission (BCSC) is warning investors about a Utah-based company that has filed two deficient technical reports claiming large reserves of gold on projects in BC and Arizona.
Teton Collective, LLC’s reports said the mineral reserves have very large “gross values” and “proven gold.” But the reports do not comply with national requirements in various ways:
- They do not contain supporting evidence for valid mineral resources or mineral reserves;
- Provide no basis for the dollar values assigned to the projects;
- And are not authored by a qualified person.
Both reports are authored by Gerry “Abe” Beagles, who does not appear to have the professional credentials required by Canadian securities rules to produce a technical mineral resources report. Beagles also was the author of a deficient technical report filed by a Utah-based company, Yellow Jacket Placer Project Partners & Associates, LLC, in April 2023, which was the subject of another BCSC investor alert.
Teton Collective filed the reports on SEDAR+, Canada’s official site for most public securities documents and information filed by issuers, on January 15, 2024. However, the company did not file the report with any Canadian securities regulator, as required, and has no apparent connection to any jurisdiction in Canada beyond one project in BC.
Investors should not rely on these reports, and should exercise extreme caution when dealing with any company that purports to release technical reports that do not follow the requirements of National Instrument 43-101 and its Form 43-101F1. The rule and the form establish standards for disclosure of scientific and technical information regarding mineral projects, and require the disclosure be based on a technical report or other information prepared by – or under the supervision of – a qualified person.
The BCSC urges BC investors, agents, or members of the public who have been approached about investing in Teton Collective to contact BCSC Contact Centre at 604-899-6854 or 1-800-373-6393 (toll free), via email at [email protected], or by using the online complaint form.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Contact Centre at 604-899-6854 or 1-800-373-6393, or through email at [email protected]. You can also file a complaint or submit a tip using the BCSC’s online complaint form.
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