The B.C. Securities Commission (BCSC) is urging investors to be wary of a Utah-based company that has claimed large reserves of gold on projects in the province as well Arizona.
Teton Collective LLC filed reports on the SEDAR+ disclosure system earlier this month, claiming that mineral reserves on its Canadian and American projects have very large “gross values” and “proven gold.”
However, the Jan. 15 reports contained no supporting evidence for valid mineral resources or mineral reserves, provided no basis for the dollar values assigned to the projects, and were not authored by a qualified person, according to the BCSC.
“Both reports are authored by Gerry ‘Abe’ Beagles, who does not appear to have the professional credentials … to produce a technical mineral resources report. Beagles also was the author of a deficient technical report filed by [another] Utah-based company … in April 2023,” the BCSC said in a Jan. 18 statement.
In addition, the company did not file the reports with any of Canada’s securities regulator, as required, and has no apparent connection to any jurisdiction in Canada beyond one project in B.C., according to the BCSC.
“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,” the regulator said.
“The BCSC urges B.C. investors, agents, or members of the public who have been approached about investing in Teton Collective to contact BCSC Inquiries.”
BIV has reached out to Teton Collective for comment.
