The miner — which holds the Joule, Aero and Aqua projects in the region’s La Grande Greenstone Belt — will join the likes of Allkem, Winsome Resources and Patriot Battery Metals in being among publicly traded landholders in the region if investors pony up for the company’s IPO.
Executive director Andrew Dornan, who has previously worked at Pilbara Minerals and Tianqi Lithium, said the company focused on the Quebec region following a global search for terranes with “large-scale commercial spodumene discoveries”.
“This region has already delivered some of the most significant new globally hard-rock lithium discoveries of scale in recent times,” he said.
“Our key properties are located within close proximity to several major recent discoveries and exhibit all the key geological characteristics required to host major spodumene deposits.”
According to James Bay’s prospectus, dated July 19, between 25 million and 30m shares will be issued at an offer price of 20¢ each with money raised to be put towards exploration activities and funding working capital.
Wagtail Capital and Conrad Capital Group are joint lead managers to the offer, which is slated to close on August 18.
