I recently caught up with Pete Rusefrom Mont Royal Resources (MRZ.asx) to discussrecent corporate events that have taken place in the Upper Eastmain region of James Bay, Quebec, plus the nice little cash boost the company has received and the upcoming summer exploration plans for the mightyMount Royals.
Mont Royalis currentlytrading at 6.1cto give them amarket cap of $5.1m odd, as of (last quarterly) theyheld over $1.88m in the Bank.
The James Bay tradehas been a little quiet of late but that should all change soon with plenty of drilling kicking off soon, expect James Bay fireworks from at least a few.
He shared that MRZ's projects havereceived a significant boost fromWinsome Resources’(WR1.asx)recent option to acquire theRenard Mine and Infrastructure, located ~30km north of MRZ’s Bohier and surrounding Northern Lights Projects, connected by an exisiting all-weather road.
That last part about an existing all weather road is quite important,if you know you know or listen to the podcast below.
Winsomehas indicated it will use the option period (initially 6 months) to confirm the feasibility of repurposing this2.2Mtpa facility as a central lithium processing facility,with positive strategic implications for the region.
Mont Royal andme tooconsiders the potentialrepurposing of the Renard processing plant for lithiumproduction to be a major strategic benefit to all lithium companies (exploration and development) operating in the Upper Eastmain district.
They will screaming for feed from somewhere.......
This has the potential to establish a near-term, central processing hub for lithium deposits throughout the region.
MRZ has also received the first tranche (~C$842k) of its previously foreshadowed tax rebate from the Quebec Government of which C$548,559 is subject to finalisation by the tax authorities.
The second tranche is expected to arrive in the coming monthsonce the necessary audits are completed.
They are good the Canadian government with mining,looks like Albo's taking a leaf from their book.
The funds strengthen its cash position and with strict cost controls remaining in place, shouldensure that MRZ has significant cash to progress the next stage of its long-term growth strategy in the North American lithium sector.
Planning and logistical preparations have continued toadvance for its 2024 exploration field season at the Bohier Project.
The upcoming Spring/Summer Field Season has been specifically designed tofollow up a number of advanced lithium exploration targets identified by its field work programs in 2023.
These include areas which delivered promising high-grade results from trenching and channel sampling programs, returning assays including6.05m @ 1.78% Li2O, 7m @ 1.71% Li2Oand1m @ 1.97% Li2O. | 
