Quebec Precious Stock Price, News & Analysis

Fury Gold Mines and Quebec Precious Metals (QPM) have reached a significant milestone in their merger process. At a special meeting, QPM shareholders voted overwhelmingly in favor (88.72%) of the arrangement, where Fury Gold will acquire all QPM shares.

Under the deal terms, QPM shareholders will receive 0.0741 Fury Gold shares for each QPM share, valuing each QPM share at C$0.04 based on the 20-day volume weighted average price as of February 25, 2025. The meeting saw participation from holders of 50,449,020 QPM shares, representing 48.67% of eligible voting shares.

The arrangement received strong support from both general and minority shareholders, exceeding the required two-thirds majority threshold. QPM will seek final court approval on April 25, 2025, with the transaction expected to complete around April 28, 2025. Following completion, QPM shares will be delisted from both the TSX Venture Exchange and Frankfurt Stock Exchange.

The Cree Trappers Association (CTA), Cree Hunters Economic Security Board (CHESB), and 16 mining companies have approved 2025 funding to continue rebuilding cabins destroyed in the 2023 forest fires in Eeyou Istchee James Bay, Quebec.

Following the October 2024 announcement of a $750,000 voluntary contribution to the Reconstruction Initiative Forest Fires Fund 2023 (RIFFF), the CTA successfully rebuilt 50 cabins in 2024. The 2025 reconstruction efforts will be supported by $400,000 from CHESB and $200,000 from the Companies, with additional funding planned for 2026.

The initiative, launched in collaboration with the Niskamoon , Cree Nation Government, and Eenou-Eeyou Community Foundation, aims to provide replacement cabins for Cree hunters and trappers occupying Cree land.

Fury Gold Mines and Quebec Precious Metals (QPM) announced progress in their merger process, which is expected to complete before April 30, 2025. QPM has obtained necessary approvals from Corporations Canada and Quebec Superior Court, with a shareholder meeting scheduled for April 22, 2025. Fury has secured conditional approval from TSX and NYSE American.

QPM's portfolio includes the Sakami project, covering 70,900 hectares in the James Bay gold camp, featuring significant gold mineralization with intercepts up to 9.22 g/t Au over 12.55m. The Elmer East project shows promising gold and base metal potential with samples up to 68.10 g/t gold. Recent drilling at the Ninaaskumuwin project revealed spodumene-bearing pegmatites extending 150m vertically.

Additionally, QPM holds 68% of the Kipawa project, containing historical reserves of 19.8 million tonnes grading 0.411% total rare earth oxides. Fury disclosed an expected non-cash impairment charge effective December 31, 2024, to align mineral property values with market capitalization.

Fury Gold Mines has announced an agreement to acquire Quebec Precious Metals (QPM) through a share exchange transaction. QPM shareholders will receive 0.0741 Fury shares for each QPM share, representing a 33% premium based on February 25, 2025 closing prices.

The transaction will consolidate over 157,000 hectares of gold and critical minerals exploration portfolio in Quebec. QPM's flagship Sakami project has undergone nearly 50,000 meters of drilling, with significant gold mineralization identified in the La Pointe and La Pointe Extension zones.

The combined company will be approximately 95% owned by existing Fury shareholders and 5% by QPM shareholders on an undiluted basis. The transaction is expected to complete by the end of April 2025, subject to regulatory approvals and other closing conditions.

Quebec Precious Metals (CJCFF) has announced the receipt of a $200,000 payment plus additional valuable consideration from International Explorers and Prospectors Inc. (IEP). The payment is related to the sale of QPM's 50% undivided interest in specific mining rights that are part of the Matheson Township mining property in Ontario. This transaction represents the company's divestment of a non-core asset.

Quebec Precious Metals (QPM) has completed its maiden drilling campaign at the Ninaaskumuwin lithium project in James Bay, Quebec, totaling 825m in 5 holes. Key findings include +20m thick spodumene-bearing pegmatite intersected in three holes, with visually estimated spodumene ranging from 3% to 50%. The drilling confirmed vertical continuity up to 150m deep of mineralized pegmatite dipping -57 degrees north. Previous outcrop samples showed Li2O values between 1.10% and 3.92%. The pegmatite remains open along strike and depth, with assays pending. The project is strategically located 60km north of the km 381 rest stop and 50km north of the Galaxy project, which Rio Tinto is acquiring as part of their USD 6.7 billion Arcadium Lithium acquisition.

Quebec Precious Metals (QPM) announces the issuance of 221,165 common shares to settle services worth $19,462.52 for three current directors. The shares will be issued at $0.088 per share with a four-month hold period. Additionally, 107,955 deferred stock units (DSUs) will be issued to the CEO as part of their compensation structure, where 20% of salary is paid in DSUs quarterly. The DSUs will vest after one year and are payable in common shares or cash upon employment termination.

The Cree Hunters Economic Security Board (CHESB) and 16 mining companies have jointly contributed $750,000 to the Reconstruction Initiative Forest Fires Fund 2023 (RIFFF). The fund aims to rebuild cabins destroyed by wildfires in the Eeyou Istchee James Bay territory of Quebec in 2023, where 11% of land and 60% of traplines were affected. CHESB will contribute $400,000 and provide administrative support, Newmont Éléonore will donate $50,000, and 15 other mining companies will each contribute $20,000. The reconstruction efforts will begin in 2025, complementing the Cree Trappers' Association's ongoing work.

Quebec Precious Metals (QPM) has announced encouraging preliminary results from its first drillhole at the Ninaaskumuwin lithium project in James Bay, Quebec. The company intersected a 22.9-meter spodumene-bearing pegmatite interval from 127.95 to 150.85 meters depth, with visually estimated spodumene content ranging from 3% to 50%. Previous surface samples from the discovery outcrop yielded assays between 1.10% and 3.92% Li2O. The pegmatite body dips at approximately 57 degrees north and remains open along strike and depth. The project is strategically located about 60 km north of the 'km 381' rest stop and 50 km north of the Galaxy project, which Rio Tinto is acquiring as part of their USD$6.7 billion Arcadium Lithium acquisition.