Welcome to our dedicated page for Quebec Precious news (Ticker: CJCFF), a resource for investors and traders seeking the latest updates and insights on Quebec Precious stock.
About Quebec Precious Metals Corporation
Quebec Precious Metals Corporation (QPM) (OTCQB: CJCFF) is a mineral exploration company strategically positioned in the highly prospective Eeyou Istchee James Bay territory of Quebec, Canada. The company is focused on discovering and advancing high-value gold, lithium, and rare earth element (REE) deposits, catering to the growing global demand for critical and strategic minerals. QPM's operations are centered on sustainable exploration practices, collaboration with local communities, and leveraging its extensive land holdings near established mining infrastructure.
Core Business and Strategic Focus
QPM's primary focus is the exploration and development of its flagship Sakami Gold Project, a 23-kilometer-long gold-bearing structural corridor. The project encompasses two well-defined deposits, La Pointe and La Pointe Extension, which have shown significant gold mineralization through extensive drilling campaigns. Additionally, the company is advancing its Ninaaskuwin Lithium Prospect on the Elmer East project, where recent drilling has confirmed the presence of spodumene-bearing pegmatites with substantial vertical continuity. QPM also holds a 68% interest in the Kipawa Rare Earths Project, a historically significant deposit with proven reserves of heavy rare earth elements.
Market Position and Industry Collaboration
Operating in a region known for its rich mineral endowment, QPM benefits from its proximity to Newmont Corporation's Éléonore gold mine and other emerging mining projects. The company actively collaborates with industry partners, including Harfang Exploration, to enhance exploration efficiency and share technical expertise. This collaborative approach has resulted in the identification of high-priority drill targets for both gold and lithium, showcasing QPM's commitment to maximizing resource potential.
Key Differentiators
- Diversified Portfolio: QPM's assets span multiple high-demand commodities, including gold, lithium, and rare earth elements, providing resilience against market fluctuations.
- Strategic Location: The company's projects are located in Quebec, a mining-friendly jurisdiction with robust infrastructure and government support for critical mineral exploration.
- Technical Expertise: QPM employs advanced exploration techniques, including geometallurgical studies and structural mapping, to optimize resource identification and development.
- Community Engagement: QPM is committed to sustainable practices and actively supports local initiatives, such as the Reconstruction Initiative Forest Fires Fund, reinforcing its social license to operate.
Future Outlook
With a strong portfolio of exploration assets and a focus on critical minerals, QPM is well-positioned to capitalize on the increasing demand for sustainable and strategic resources. The company's recent merger with Fury Gold Mines Limited is expected to enhance its operational scale, diversify its asset base, and accelerate the advancement of key projects, including Sakami and Ninaaskuwin.
Quebec Precious Metals (TSXV:CJC, OTCQB:CJCFF) held its annual shareholders' meeting on July 16, 2024, where all resolutions were overwhelmingly approved. Shareholders elected Geneviève Ayotte, Normand Champigny, Wanda Cutler, and James Shannon as directors, and appointed KPMG LLP as auditors.
The company also announced the issuance of 1,145,000 deferred stock units (DSUs) under its DSU Plan, with 1,070,000 granted to directors and officers, and 75,000 to an employee. Additionally, QPM granted 30,000 stock options to a consultant at an exercise price of $0.10 per share, valid for two years with immediate vesting.
Quebec Precious Metals (QPM) announced on June 27, 2024, its congratulations to Ophir Metals Corp. for discovering spodumene pegmatites (lithium) near their Elmer East Project in James Bay, Quebec. Ophir's discovery lies 3.7 km northwest of QPM's Ninaaskuwumin spodumene pegmatite, where assays from nine samples revealed lithium values ranging from 1.10% to 3.92% Li2O. These findings suggest significant potential for spodumene pegmatite resources in the region. QPM plans to sample and drill its own Ninaaskuwumin spodumene pegmatite later this summer and early fall. An updated corporate presentation is available on the QPM website.
Quebec Precious Metals (CJCFF) has received financial support up to $333,306 from Quebec's Ministry of Natural Resources and Forests (MRNF) for its Elmer Est project in Northern Quebec. The support is part of the Mineral Exploration Support Program for Critical and Strategic Minerals, aimed at enhancing mineral exploration projects in Quebec. This funding will enable QPM to conduct geometallurgical studies to design an optimal treatment process and develop lithium resources discovered at the Ninaaskumuwin site. Surface assays from the site have shown lithium oxide (Li2O) values of up to 3.92%, with potential mineralization extending along a 3.8 km trend.
Quebec Precious Metals (QPM) has completed the final tranche of its non-brokered private placement, raising $261,560. This tranche included $160,000 from 3,200,000 Hard Units at $0.05 per unit and $101,560 from 1,154,091 flow-through units at $0.088 per unit. Each unit also includes a warrant to purchase one common share at $0.10 for 36 months. The total amount raised including the first tranche is $446,560.
Proceeds from flow-through units will be used for Canadian exploration expenses, qualifying as 'flow-through critical mineral mining expenditure' under Canadian tax laws. Funds from the placement will support general corporate purposes and exploration in Quebec. Insiders participated, subscribing to 200,000 Hard Units and 240,000 FT Units.
The company also corrected details from a previous release, confirming a finders' fee of $5,600 and 112,000 warrants issued previously. QPM signed shares for services agreements with three directors, compensating them with shares to conserve cash. These transactions are exempt from formal valuation and minority shareholder approval requirements.
Quebec Precious Metals (CJCFF) announced the first closing of a non-brokered private placement, raising $185,000 through 3,700,000 Hard Units at $0.05 each. Each unit includes one common share and one warrant, allowing the purchase of a share at $0.10 within 36 months. The proceeds will fund lithium and gold exploration in James Bay and social acceptability initiatives at the Kipawa rare earths project. Additionally, a separate placement of 3,000,000 Flow-Through Units at $0.088 each is planned to fund Canadian exploration expenses. Final approval from the TSX Venture Exchange is pending.
Quebec Precious Metals (QPM) will issue 457,942 common shares to settle debts totaling $38,925.08 owed to three directors for services rendered in Q4 FY2024 and Q1 FY2025. The shares will be issued at $0.085 each, with a four-month hold period. The Debt Settlement is considered a related party transaction but is exempt from certain MI 61-101 requirements. Additionally, QPM will issue 223,530 deferred stock units (DSUs) to the CEO as part of a plan to pay 20% of his compensation in DSUs. These units will vest one year from the grant date and can be paid in shares or cash when the CEO leaves the company.
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