Few know and understand Québec-based mining projects like Eric Lemieux, mining analyst with PearTree Securities Inc. He understands that the low commodity price environment is hindering widespread exploration but explains that for companies with cash, exploration dollars go further in tough times. In this interview with The Gold Report, Lemieux provides some perspective on several brownfield exploration projects he recently visited in Québec’s Abitibi and Val-d’Or regions, while providing updates on other Québec gold and other mining projects with near-term catalysts.
The Gold Report: Canada recently elected a majority Liberal government under Justin Trudeau. Will that government’s promise to bring “credibility” back to environmental impact assessments have an effect on mining projects in Québec?
Eric Lemieux: The federal government has a platform of ensuring that decisions are based on science, facts and evidence. I look forward to that coming to fruition nationally. In Québec there is BAPE, the Bureau d’audiences publiques sur l’environnement, a provincial agency that brings credibility to environmental reviews and permitting. Investors shouldn’t have any reason to be anxious about environmental impact assessments and the incoming government of Prime Minister Justin Trudeau.
TGR: You just returned from some site visits in the Abitibi, specifically the Val-d’Or and Rouyn-Noranda regions of Québec. What’s your sense of the health of mining exploration in these camps compared to other years when you’ve been there?
EL: These regions are struggling because of the low commodity price environment. You can see that the area is less vibrant and the impact is probably greatest among the mining service providers like drillers and assay labs. But that means the cost of drilling has gone down and the wait times for assay data are not as long. Some companies are taking advantage and going full speed ahead with their projects. This is a great time to explore, if the …read more