A panel of the British Columbia Securities Commission found that Multi-Metal Development Ltd. and its president and CEO, Shaun Methven Dykes, made false or misleading statements in a technical report the company filed in 2019 about its principal asset, a molybdenum-copper deposit in Idaho. The report included the electronic signature of a professional engineer presented as a qualified person and listed him as an author, but the panel concluded he neither signed nor consented to the use of his name. The panel also found the report improperly attributed forward-looking statements about the feasibility of producing tungsten to the qualified person, and that Multi-Metal lacked a reasonable basis to make those statements without his certification. The panel concluded the conduct contravened the British Columbia Securities Act prohibition on false or misleading statements in filed documents and other mineral project disclosure requirements, and found Dykes, as the directing mind who authorized or permitted the misconduct, contravened the same provisions; a 2023 cease trade order against the TSX Venture Exchange-listed company remains in effect. The Executive Director and the respondent have been directed to make submissions on sanctions.

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