James Bay Minerals Limited (ASX: JBY) has commenced trading shares on the ASX at 9:00am (WST) 12 September 2023.
The news follows the completion of a highly successful A$6M IPO, which closed 16 August 2023, following an enthusiastic response from new institutional and retail investors.
James Bay executive director, Andrew Dornan, commented: “We are absolutely delighted by the strong response from investors to the IPO, which saw us achieve our A$6M maximum subscription well ahead of schedule. 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.
James Bay Minerals is a Perth-based lithium explorer, which has secured an extensive and highly strategic ground position in the heart of the La Grande Greenstone Belt, which the company has stated has risen to prominence in recent years, following several significant lithium-pegmatite discoveries as well as accelerating exploration, development, and corporate activity.
James Bay’s portfolio of properties was identified and secured by the company’s experienced team. The properties displayed the key geological characteristics required to host massive LCT (lithium-caesium-tantalum) pegmatites.
The company has plans in place to commence exploration immediately following its ASX listing, with field exploration programmes scheduled to begin in September in parallel with expanding the company’s in-country exploration and administration teams.
Initial drill programs are planned to commence in early 2024, pending results from James Bay Minerals’ 2023 field programme. The company will continue to inform shareholders as works progress.
“As fellow shareholders, 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,”
“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. “We are starting our life as a Canadian-focused lithium explorer against the backdrop of unprecedented activity within the global lithium sector. Recent major news emanating from the James Bay district vindicates our strategy to focus on the James Bay area as the next major global frontier for hard rock lithium discoveries of scale.”
To read more about this announcement, please visit www.jamesbayminerals.com.au
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