JBY announces a board transition
Today, our gold Investment, James Bay Minerals (ASX: JBY) announced a board transition.
Stepping into the Managing Director role at JBY is Matt Hayes, who led JBY’s capital raise and helped bring in the Independence Gold project.
Matt Hayes is a founder and major shareholder of JBY, so we see this as a good move to align incentives.
Andrew Dornan, who was previously Managing Director of JBY has moved on to become Managing Director of Sun Silver (ASX: SS1) another one of our US precious metals Investments in Nevada.
Matt Hayes has strong capital markets experience, which could become increasingly important in a roaring gold market which has made gold assets such as JBY’s more desirable to majors as capital moves back into the industry.
We note that JBY’s asset is almost entirely surrounded to the north, east and south by the Newmont-Barrick JV, Nevada Gold Mines:
Here’s what we are looking for next from JBY:
Assay results from the deeper diamond drilling 🔄
In the short term we want to see what comes of the deeper diamond drillhole JBY drilled beneath its existing resource.
The key thing we are looking for is to see if the gold structures match up with the extensional hits from today:
Ultimately we are hoping to see JBY confirm there is more gold to the east and at depth. This could mean JBY can add to its existing foreign resource in future resource updates.
Read more in our latest note on JBY:
