Chibougamau Independent Mines

What Chibougamau Independent Mines does

Chibougamau Independent Mines Inc. is a junior natural-resources exploration and development company focused on advancing mining properties in the Chibougamau Mining Camp in north-western Quebec. Incorporated in 2012 as a spin-out from Globex Mining Enterprises, the company controls an aggregate land position of approximately 11,131 hectares spanning 18 named properties (including the Berrigan Mine, Bateman Bay, Kokko Creek, Quebec Chibougamau Goldfields, Grandroy, the Lac Chibougamau block, and Mont Sorcier), with five past-producing copper-gold mines, one unmined copper-gold deposit, the unmined Berrigan Zn-Au-Ag deposit, and a large iron-titanium-vanadium resource in its portfolio. Core technology consists of geological exploration and diamond drilling augmented by deep-penetrating induced-polarization surveys, ground magnetometer work, and HEM electromagnetic surveying to test strike and depth extensions of historic deposits at depths of 400-600 metres below surface; at Mont Sorcier alone, partners have completed roughly 17,000 metres of infill drilling to upgrade resources.

The business model is asset-light and partner-funded: CBG enters option agreements under which partners such as TomaGold Corporation and Voyager Metals (a Cerrado Gold subsidiary, formerly Vanadium One Iron) commit exploration spending, cash, and shares to earn ownership stakes in specific properties. CBG retains gross metal royalties on optioned assets (2-3% on most, 1% specifically on Mont Sorcier), plus a 3% gross metal royalty flowing upstream to Globex across the portfolio. Where CBG lacks a partner, it funds its own exploration through small flow-through and non-brokered private placements (typically CAD 0.8-1.1M per raise). The company is publicly traded on the TSX Venture Exchange (CBG) with secondary listings in Germany (Frankfurt, Stuttgart, Berlin) and on OTC Markets in the United States, has 1-10 employees, and is led by President & CEO Jack Stoch alongside a small board where directors collectively hold approximately 26.17% of outstanding shares.

The company has no operating mining revenue at present; economics accrue only when a partner-funded program delivers a resource, a feasibility milestone (Mont Sorcier feasibility study targeted for Q2 2026), or ultimately production. Customer concentration is structurally high because nearly all exploration spend passes through a small number of option partners, and the underlying commercial buyers are major and mid-tier mining companies seeking advanced-stage assets in proven Canadian mining camps.

Name

Chibougamau Independent Mines

Legal name

Chibougamau Independent Mines Inc.

Website

https://chibougamaumines.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Chibougamau Independent Mines is a junior Canadian mining exploration company that controls 18 properties totaling approximately 11,131 hectares in the Chibougamau Mining Camp in Quebec, advancing copper-gold, zinc-gold-silver, and iron-titanium-vanadium deposits through partner-funded option agreements and retained royalties.

Ownership category

akta.pro rank

Headquarters

HQ city

Rouyn-noranda

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others, Technology or R&D

Revenue model

1. Property Option Agreements: CBG enters option agreements where partner companies (like TomaGold, Vanadium One Iron) fund exploration programs and make cash/share payments to earn ownership stakes in specific properties. CBG retains royalty interests (typically 2-3% gross metal royalty) on properties it options out.
2. Mont Sorcier Royalty: CBG holds a 1% gross metal royalty on Mont Sorcier iron-titanium-vanadium deposit, with Cerrado Gold (via Voyager Metals) advancing the project toward production through a bankable feasibility study and potential development.
3. Direct Exploration Revenue: The company conducts its own exploration programs funded through flow-through private placements to advance priority properties toward NI 43-101 compliant resource definitions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Chibougamau Independent Mines Inc. (CBG) is a junior mining exploration and development company that controls a portfolio of 18 mineral properties across the Chibougamau Mining Camp in northwestern Quebec. The company's properties include past-producing copper-gold mines, unmined zinc-gold-silver deposits, and a large iron-titanium-vanadium deposit. CBG generates revenue by optioning its properties to partner companies that fund exploration programs in exchange for earn-in rights, while CBG retains royalty interests (2-3% gross metal royalty).

Product overview

Chibougamau Independent Mines Inc. (CBG) is a natural resources exploration company focused on developing new mines in the Chibougamau gold-copper mining camp in North Western Quebec. The company's portfolio consists of distinct mining properties including five past producing copper-gold mines (Bateman Bay, Kokko Creek, Quebec Chibougamau Goldfields, S-3 Zone, and Grandroy), one unmined copper-gold deposit, one unmined zinc-gold-silver deposit (Berrigan Mine), the inferred lateral and depth extensions of the Henderson-Portage Mines, a large iron-titanium-vanadium deposit (Mont Sorcier), and numerous other zones of drill-intersected base and precious metal mineralization. The company does not offer software products or technology services; its products are mineral resource exploration properties at various stages of development.

Differentiator

Problem solved

Functional benefit

Products and services

• Berrigan Mine

Quantifiable outcome

• Exploration target depths of 400m to 600m below surface at known copper-gold zones
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Cerrado GoldcoreStrategic or Co-development Partner · 21 November 2023Cerrado Gold (through its subsidiary Voyager Metals) completed a business combination with Vanadium One Iron Corp. TD Bank has been appointed as lead arranger for project financing at the Mont Sorcier project, with feasibility study targeting completion by Q2 2026.
• TomaGold CorporationcoreStrategic or Co-development Partner · 14 August 2023TomaGold holds an option to acquire 100% of the Berrigan Mine and other West Block properties from CBG through cash and share payments and exploration spending commitments. TomaGold is conducting Phase 1 and Phase 2 drilling programs on the Berrigan property, with Phase 1 returning significant intersections including 5.08% ZnEq over 98.50 metres and 23.20% ZnEq over 4.90 metres.
• SOQUEMminorOthers · 14 August 2023TomaGold is also launching prospecting and geophysical surveys across properties acquired from Chibougamau Independent Mines, Globex and SOQUEM to assess historical mineralized showings and identify new drill targets.
• Vanadium One Iron Corp.coreStrategic or Co-development Partner · 29 September 2016Vanadium One Iron Corp. (formerly Vanadium One Energy Corp.) optioned the Mont Sorcier iron-titanium-vanadium property from CBG for cash, shares, and a 2% gross metal royalty. The company has completed extensive drilling and filed NI 43-101 technical reports with indicated resources of 113.5 Mt grading 35.0% Fe.
• Computershare Investor ServicesminorOthersTransfer Agent and Registrar for Chibougamau Independent Mines Inc., located at 1500 University Street, Suite 700, Montreal, Quebec H3A 3S8.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Sokoman Minerals Corp. Sokoman is an Eastern Canadian gold junior focused on high-grade orogenic gold and VMS-style mineralization, including projects in Newfoundland. It mirrors CBG's early-stage exploration profile and similar GMR/option structure with strategic partners.
• TomaGold Corporation: TomaGold is an option/joint-venture partner funding drilling at CBG's Berrigan and West Block properties in the Chibougamau Camp. It is a small-cap Quebec gold-copper junior with the same geographic focus, target commodities, and earn-in/JV business model, making it a direct comparable.
• Ophir Metals Corp. Ophir Metals (formerly Quebec Precious Metals) is a Quebec-focused junior explorer with lithium and gold-copper assets in the James Bay and Abitibi regions. Comparable in scale, stage, and Quebec-centric commodity exposure to CBG.
• Aurion Resources Ltd. Aurion is a Finland-focused gold junior with a B2Gold earn-in/JV partnership model. It is comparable in size and structure to CBG, and shares a director (David Lotan), making it a close peer on both business model and governance.
• Wallbridge Mining Company Ltd. Wallbridge is a Quebec-based gold-copper junior explorer advancing the Detour-Fenelon gold camp and adjacent copper assets. It shares CBG's Quebec base, focus on Au-Cu in Archean greenstone settings, and partner-funded exploration model.
• Northern Superior Resources Inc. Northern Superior is a Quebec-Ontario gold-copper junior with an option-joint venture exploration model anchored by Newmont as a major partner. It is comparable to CBG in stage, commodity focus, and the strategy of partnering majors to advance exploration-stage assets.
• Globex Mining Enterprises Inc. Globex is CBG's parent/spin-out entity and operates an identical royalty-and-option model across a larger North American mineral property portfolio. It is directly comparable in business model (junior royalty/mineral asset holder), commodity focus (Au, Cu, base metals), and Quebec footprint, and also holds the 3% GMR on CBG's properties.
• Doré Copper Mining Corp. Doré Copper is a Quebec-focused copper-gold explorer/developer operating in the Chibougamau district with past-producing assets and a hub-and-mill strategy. It is a close geographic and operational comparable to CBG, with similar commodity focus and an analogous partnership/financing structure.

Broad incumbents

• Maverix Metals Inc. Maverix is a larger precious-metals royalty and streaming company with a portfolio of GMRs and NSRs on producing and development-stage mines. It represents a scaled-up version of CBG's royalty-driven business model and serves as a benchmark for royalty-streamer peers.
• Cerrado Gold Inc. Cerrado (via Voyager Metals, formerly Vanadium One Iron) is developing CBG's Mont Sorcier Fe-Ti-V project toward production with TD Bank as mandated lead arranger. While broader in scope (also operates producing gold mines in South America), it is the principal counterparty advancing CBG's most advanced asset and therefore a key comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chibougamau Independent Mines