Toronto stock exchange listed Canada based iron and vanadium mineral exploration Company. The Company’s project- Mont Sorcier is based just outside of Chibougamau, Quebec. Quebec is identified as one of the best jurisdictions in the world for mining.

Project Mont Sorcier Large-scale, iron ore and vanadium project with high grade product potential. Project covers an area of approximately 1,919 hectares (4,797.5 acres).

In 2020 company declared the results of PEA on the project site. The total cumulative, after tax FCF for the 37 year mine life was predicted at C$6.3B ($5.2B USD)

After issuance of the PEA report Company has 2-year plan to deliver the Feasibility Study for the project, where in year 1 company is expecting to undertake Drilling Program to upgrade resources to M&I to support at least 20 year mine life and undertake additional detailed metallurgical work. 

Agreement with Glencore to support US$8m of a US$10m fundraise to support BFS. Glencore will gain an 8 year offtake for 100% of the vanadium and this could be increased to life of mine if support equity or debt funding for project construction.

The Mont Sorcier project has excellent infrastructure potential; low-cost Hydro Power Readily available, it also has 2 deep water ports- Saguenay and Quebec City, which are available for exports.  

In August 2021 Company has signed a Memorandum of Understanding with the Port of Saguenay to mutually advance the development of the Mont Sorcier project and the planned use of the port to export iron ore concentrates.

In August 2021 prior to the MOU, Port of Saguenay announced $33m financial support by the Federal Government of Canada and a $33 million investment by the Provincial Government of Quebec towards the construction of a multi-user conveyor system to connect the industrial zone and railway installations to the maritime terminal for ship loading/unloading. Total investment of $66m.