BC securities regulator warns of Nevada company’s unfounded gold reserve claims

The BC Securities Commission (BCSC) is asking B.C. investors to be cautious about a Nevada-based company that claims to have a large reserve of gold.

Last month, Yellow Jacket Placer Project Partners & Associates filed a technical report on SEDAR – Canada’s official site for filing most public securities documents and information – claiming that its mineral reserve had a very large “proven value.”

“However, investors should not rely on the report, which does not comply with national requirements,” said the BCSC in a press release.

“It does not contain supporting evidence for valid mineral resources, there is no basis for the dollar values assigned to the project and it is not authored by a qualified person.”

The company did not file the technical report with any Canadian securities regulator as required, according to the BCSC, and has no apparent connection to any jurisdiction in Canada.

The provincial securities regulator has asked B.C. investors to contact BCSC Inquiries Group if they have been approached about investing in Yellow Jacket Placer Project Partners, and to exercise “extreme caution” with any company that releases a technical report that does not follow national requirements.

BIV has reached out to Yellow Jacket Placer Project Partners & Associates for comment.

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