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Thursday, 05/11/2023 8:51:04 PM

Thursday, May 11, 2023 8:51:04 PM

Post# of 3949
Phony "NI 43-101 Reports" are still a thing.

The British Columbia Securities Commission recently issued a warning about a phony NI 43-101 Technical Report issued by a Nevada company. And this company is a frequent flier on bogus reports. Yes, it is the exact same claims used by legendary fraud Texas Wyoming Drilling (now Bantec - BANT) to run their pump and dump about 10 years ago. Both the property and the company have since been recycled for use in new frauds.

Investor Alert: Nevada company makes unfounded claims of gold reserves

https://www.bcsc.bc.ca/about/media-room/news-releases/2023/36-investor-alert-nevada-company-makes-unfounded-claims-of-gold-reserves

Vancouver – The B.C. Securities Commission (BCSC) is warning investors about a Nevada-based company that has filed a technical report claiming a large reserve of gold.

In the report, Yellow Jacket Placer Project Partners & Associates, LLC said the mineral reserve had a very large “proven value.” However, investors should not rely on the report, which does not comply with national requirements. 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.

Yellow Jacket Placer Project Partners filed the report on SEDAR, Canada’s official site for most public securities documents and information filed by issuers, on April 21, 2023. 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.

The BCSC recommends that B.C. investors exercise extreme caution when dealing with any company that purports to release a technical report that does 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 that the disclosure is based on a technical report or other information prepared by or under the supervision of a qualified person.

The BCSC urges B.C. investors, agents, or members of the public who have been approached about investing in Yellow Jacket Placer Project Partners to contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 (toll free), via email at inquiries@bcsc.bc.ca, or by using the online complaint form.

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