Does anyone have any more info on this upcoming IPO?
Extract Small caps.com.au website:
There is no doubt that the James Bay region of Canada is one of the hottest destinations for companies looking to join the lithium “boom” and now a new Australian explorer is set to test the riches of its namesake area.James Bay Minerals is targeting the raising of $6 million dollar through an initial public offering (IPO) to explore an already significant portfolio of assets in the Quebec district in Canada.The company is offering up to 30,000,000 shares at an issue price of $0.20 per share to raise its $6 million target.There is no doubt that the James Bay region of Canada is one of the hottest destinations for companies looking to join the lithium “boom” and now a new Australian explorer is set to test the riches of its namesake area.
James Bay Minerals is targeting the raising of $6 million dollar through an initial public offering (IPO) to explore an already significant portfolio of assets in the Quebec district in Canada.
The company is offering up to 30,000,000 shares at an issue price of $0.20 per share to raise its $6 million target.
La Grande offers many potential targets
The company’s La Grande project consists of 357 claims making up approximately 18,088 hectares in northwest Quebec.
The property is situated within the larger La Grande River Greenstone Belt (LGGB), where collectively, the La Grande and Opinaca sub-provinces host a significant number of the known spodumene pegmatite occurrences in Quebec.
Currently La Grande consists of three distinct prospects:
- Joule prospect, comprising 205 claims (covering an area of approximately 10,498 hectares) located 50km southeast of Radisson;
- Aero prospect, comprising 89 claims (covering an area of approximately 4,366 hectares) located 150km east of Radisson; and
- Aqua prospect, comprising 63 claims (covering an area of approximately 3,225 hectares) located 190km east of Radisson.
Troilus a significant target in a proven area
Notably, the Troilus project in the Southern James Bay region is located just 5km from Sayona Mining’s Moblan deposit, reported to be the largest spodumene deposit in Quebec.
Sayona has unveiled a mineral resource estimate for Moblan of 12.03 million tonnes at 1.4% lithium oxide.
Troilus consists of 80 continuous claims covering approximately 4,350 hectares in the Lac Assinica section of James Bay.
The project sits in the western portion of the Upper Archean Frotet- Evans metavolcanic belt, Québec’s second-largest Archean greenstone belt, comprising the central part of the Opinaca Sub province.
To date the geology of the Troilus Project is relatively unexplored, however, the primary type of mineralisation suggested by data and mineralisation from adjacent properties is lithium-bearing spodumene which occurs in granite pegmatite and aplite dykes.
Along with Sayona’s Moblan project, Troilus has plenty of location value due to its proximity to Vision Lithium’s (TSX.V: VLI) Sirmac project and Winsome Resources’ Sirmac-Clappier projects approximately 25km to the west of the Troilus project.
With a large portfolio located in a high-profile destination and an experienced team, James Bay Minerals is ideally placed to take advantage of a lithium market that is forecast to grow significantly in coming years.
Once the IPO is completed, James Bay Minerals is looking to list with an ASX code of ‘JBY’.
