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The James Bay portion of Quebec's Plan Nord ambition to develop central and northern Quebec, also known by the Cree name "Eeyou Istchee", has the potential to evolve into a major mining center. So far the only operating mines are Eleonore, a gold deposit discovered in 2004 by Andre Gaumond's Virginia Gold Mines and put into production by Goldcorp, and Renard, the diamond deposit discovered by Ashton and developed by Stornoway. In recent years there has been a wave of exploration assessing the lithium potential of the region's pegmatite bodies, but exploration for precious and base metals has been hindered by the resource junior bear market that began in 2011 and is now dragging on in its eighth year. So the unleashing of the James Bay region's potential envisioned by Plan Nord has not really had a chance, despite generous support from the government in the form of flow-thru benefits and expenditure refunds. That will soon change if the early promise of a high grade copper discovery by Midland during the summer of 2018 is confirmed as a world class discovery, possibly in the form of a new deposit style whose quirks explain why it eluded earlier discovery. The circumstances of this story fit the key inputs for a Great Canadian Area Play of which Hemlo, Casa Berardi, Eskay Creek, Ekati, and Voisey's Bay are classic past examples while McFauld's Lake in 2007-2008 is the last, albeit failed, outbreak of a Great Canadian Area Play. This resource center features companies which have a primary or meaningful focus on the James Bay region as defined by the southern tip of James Bay and the northern limit where Eeyou Istchee becomes Nunavik.
The KRO James Bay Plan Nord Index is a KRO member only product which tracks how companies with a focus on the James Bay region or an important project located in it are performing as a group and how each index member company is performing relative to the index. It was created April 24, 2019 with a December 31, 2018 initialization date and backdated to January 2, 2018. Although the impetus is the hope that Midland's Mythril copper discovery proves big enough to spawn a Great Canadian Area Play that puts the entire James Bay region in the limelight, the purpose is to spotlight one of Canada's remaining exploration frontiers for all metals and minerals that has government support for developing access and infrastructure.
Companies with a James Bay project - Market Activity for July 31, 2020
