Canadian-focused lithium explorer James Bay Minerals has listed on the ASX under the ticker ‘JBY’.
The newly listed explorer owns 224km2 of exploration tenements in the world-class lithium region of James Bay, Quebec, Canada.
“The James Bay team are incredibly excited by the company’s extensive high-quality portfolio of properties, which are located in close proximity to major recent discoveries and exhibit all the key geological ingredients required to host major spodumene discoveries,” James Bay Minerals executive director Andrew Dornan said.
Dornan is a former senior commercial manager at Pilbara Minerals and Rio Tinto. Similarly, James Bay Minerals’ leadership team come from high profile backgrounds, holding executive positions in companies such as Pilbara Minerals, Nemaska Lithium, and Primero Group.
Neighbours include Patriot Battery Metals’ Corvette discovery, which recently reported a maiden resource estimate of 109.2 million tonnes (Mt) at 1/42 per cent lithium oxide; and Sayona Mining’s Moblan deposit, with its 51.4Mt at 1.31 per cent lithium oxide resource.
Investors shared the explorer’s excitement, helping the company complete an initial public offering (IPO) of $6 million.
“We are absolutely delighted by the strong response from investors to the IPO,” Dornan said.
“This strong interest from investors reflects the exceptional outlook for the lithium market and the outstanding credentials of the James Bay region as a lithium exploration hotspot.”
The Perth-based lithium explorer said that it has plans to commence exploration immediately following its ASX listing, with field exploration programs scheduled to begin this month alongside expanding its in-country exploration and administration teams.
Initial drill programs are expected to commence in early 2024, pending results from the 2023 field program.
“We are very much looking forward to unlocking the potential of our portfolio with focused, systematic and aggressive exploration programs that are planned to commence in the coming weeks.”
Allkem is also active in James Bay with the company discovering one of the world’s largest spodumene lithium resources in the world.
And in August, Cygnus Meta;s became the fourth ASX-listed to score big in the region, announcing a hard rock lithium resource of 10.1MT at 1.09 per cent lithium oxide.