February 24, 2024

Washington D.C. – A vital ecological area shared by British Columbia (B.C.) and Southeast Alaska faces escalating pressure from Canadian gold mining exploration companies propelled by the obscure, Ponzi scheme-like “Prospect Generator Model (PGM).” The latest investigation titled Bad Prospects, by the Environmental Investigation Agency (EIA) uncovers a web-like network of more than 450 Canadian companies currently linked through the PGM, focused on claims staking and mining exploration across a transboundary watershed region known to the mining industry as the “Golden Triangle.” These “prospect generators” are mining not gold as much as “mining” retail investors and uniquely Canadian tax benefits.

The EIA estimates that 20% of all B.C. mining claims in the province are located in this transboundary watershed region. Over 80% of these B.C. claims are within five kilometers of a river or stream, about 18% of claims are on top of glaciers, and over 100 B.C. mining projects are in some phase of exploration, proposal or operation in this region. These mining companies rely on a continuous stream of funds from smaller investors to pay handsome executive salaries, dig hundreds of kilometers of holes, build infrastructure such as roads, bridges, and camps along fragile ecosystems like retreating glaciers and wild salmon habitat, and establish joint ventures and option agreements with other companies. Mining-friendly laws like the colonial B.C. Mineral Tenure…

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