How have the past 12 months been for Brunswick Exploration?

Over the past year, we have launched one of the largest lithium-focused exploration initiatives in the world. For a junior company to explore as much as we have is very rare. It takes guts, vision, and confidence. This was very exciting for us. Although the forest fires complicated things a bit in mid-2023, we still made discoveries, grew our portfolio, and proved our strategy was sound and successful. Our focus was systematic lithium exploration in Canada. We aimed for new discoveries and succeeded, especially with the Mirage discovery in Québec's James Bay. I believe this area will fulfill North America's lithium needs, making it the prime location for exploration.

While we are focused on Mirage, we have built an expertise and knowledge base inside Brunswick Exploration that is second to none, and I want to leverage this to make more discoveries across the country. I want Brunswick to be at the forefront of the new discoveries in this relatively new industry. Are you having conversations with the downstream market in Europe and North America, given your exploration in Greenland and Labrador?

European OEMs are interested, but it is still early days. I want to ensure we come to the table with something more revealing. By the end of the summer, we will know more and can engage more formally.

Overall, the plan in the coming months will be more drilling and prospecting. We are here to work, and that is what we will do. We will drill Mirage and work our portfolio to make more discoveries. I believe there are more discoveries to be made, and I want Brunswick to be involved in making them. Have you seen a shift in government partners and their strategy on critical minerals?

There is a realization that more exploration will be needed to develop the North American lithium supply chain. Everyone understands the challenges, but coming up with and executing solutions will be the complicated parts. There will always be opposition, so it will take political will and a thick skin to navigate through it. However, this is a generational opportunity to redefine industry and Québec’s position in the world. Can Québec become a major hub for lithium discoveries in James Bay?

For me, it is not just a triangle anymore; it is an axis. You can draw a straight line from James Bay down to Southern Québec and into the US, forming the entire supply chain. This includes raw production in Northern Québec, refining and battery manufacturing in Southern Québec, and final usage in Ontario and the US. This is a generational opportunity to build a complete supply chain in Québec, and it will be exciting to see what is going to happen in the next years. What are the hurdles to achieving a circular economy with feed in James Bay and processing in Becancour?

The main hurdle is political support. With strong political backing, capital follows, and everything falls into place. It starts from the top with a clear political strategy. If people understand that doing X leads to Y and Y leads to Z, they will move forward. This requires clear regulations, workable action plans, and a realistic timeline. If we think too long-term, it becomes difficult to establish short-term objectives and the long-term goal becomes irrelevant. But with a clear road map and strong leadership, all the steps fall into place naturally. Investors will see the strategy, support it, and invest accordingly. Overnight, you can build a circular economy, capture a large portion of the value chain, and contribute to decarbonization, which is the goal. What excites you about lithium space in 2024 and beyond?

There has always been a difference between market interest and corporate interest. In lithium and mining, you cannot think about the next 12 months; you must think about the next 12 years. Québec presents a unique opportunity to build an industry that cannot be replicated anywhere else. The market will have its ups and downs, but when you focus on real assets, real people, and real jurisdictions, the reality becomes clear. I am confident that we are in the right place, doing the right thing, and we will continue to do so at Brunswick Exploration. Hopefully, the rest of the industry in Québec will follow suit.