Chibougamau Independent Mines Inc.
Chibougamau Independent Mines Inc. (TSXV: CBG) is a prospect generator holding a large portfolio of claims across the historic Chibougamau copper-gold mining camp in Quebec (Berrigan, Bateman Bay, Grandroy, Kokko Creek, Lac Simon, Lac Chibougamau, Mont Sorcier and others), targeting copper-gold vein deposits plus newer VMS and lode-gold potential. Rather than self-funding drill programs, CBG typically options its ground to operators while retaining royalties: the Berrigan Mine claims are optioned to TomaGold Corporation (active drilling through 2026), and the Mont Sorcier iron-vanadium deposit is optioned to Voyager Metals/Cerrado Gold (targeting an NI 43-101 Bankable Feasibility Study, building on a 2022 PEA with a US$1.6B NPV8), with CBG retaining a 2% Gross Metal Royalty on Mont Sorcier iron/vanadium production. No NI 43-101 resource has been defined on CBG's own book.
Lifecycle Milestones
Jurisdiction (40%)9/10
Quebec: Fraser PPI 2025 is 79.39 of 100 (rank 23 of 68), which maps to 9 on this site's scale. Quebec, Canada -- Tier-1 mining jurisdiction.
Infrastructure (40%)Not yet researched
No flagship project on file yet, so existing mill, road access, grid power, and tailings facility haven't been researched.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:2/10
Primary commodity: Other
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Chibougamau Independent Mines Inc. generates and stakes exploration projects, then brings in joint-venture partners to fund the drilling in exchange for Chibougamau retaining a carried interest, royalty, or reduced equity stake — spreading exposure across multiple projects while avoiding the shareholder dilution a self-funded drill program requires. The projects below are the company's own designated material/flagship JVs; only figures the company has actually disclosed are shown, nothing here is estimated.
| Project | Commodity | JV Partner | Retained | Partner Earn-In | Spend Active | Stage |
|---|---|---|---|---|---|---|
Berrigan Mine (+ Berrigan South, Antoinette Lake, Elaine Lake, Gwillim) Canada (Quebec) TomaGold Corporation holds an option to acquire a 100% interest in the Berrigan Mine, Berrigan South, Antoinette Lake, Elaine Lake and Gwillim claim groups from Chibougamau Independent Mines, and completed all acquisition commitments for the initial two years of that option (confirmed Jan 2026). No CBG-retained royalty or equity carve-out on this specific deal was confirmed from sources reviewed -- the 2% Gross Metal Royalty publicly associated with these claims is held by Globex Mining Enterprises (a separate, pre-existing encumbrance affecting whoever owns the ground), not by Chibougamau Independent Mines itself. | Copper | TomaGold Corporation Junior | — | up to 100% | Active | Grassroots Exploration |
Mont Sorcier Canada (Quebec) Voyager Metals Inc. (a wholly-owned subsidiary of Cerrado Gold) fully earned into and now owns 100% of the Mont Sorcier high-purity iron-vanadium project (originally optioned from Chibougamau Independent Mines in Nov 2016), with Chibougamau retaining a 2% Gross Metal Royalty on production. Cerrado is funding its own Bankable Feasibility Study (building on a 2022 PEA with a disclosed US$1.6B NPV8), with 17,890m of infill drilling completed in 2025; the BFS completion date was extended in Jul 2026 pending optimization/trade-off studies. | Other | Voyager Metals Inc. (Cerrado Gold) Mid-tier | 2% royalty | — | Active | Pre-Feasibility Study |
Management Team
President, CEO and Director of Chibougamau Independent Mines Inc.; also Chief Executive Officer & Executive Chairman of Globex Mining Enterprises Inc.
Chief Financial Officer of Chibougamau Independent Mines Inc.
Corporate Secretary of Chibougamau Independent Mines Inc.; also Corporate Secretary of Globex Mining Enterprises Inc.
Director of Chibougamau Independent Mines Inc.; also a director of Globex Mining Enterprises Inc.
Director of Chibougamau Independent Mines Inc.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Director David Lotan bought about 216,000 shares on-market at roughly C$0.33 in June 2024 -- a real purchase, though now more than a year old. The company is described as a Globex Mining subsidiary, but Globex is a project generator rather than an operating producer or major, so that relationship does not score as strategic backing.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Chibougamau Independent Mines is a prospect generator with a portfolio of claims across the historic Chibougamau copper-gold mining camp in Quebec, which it generally options to operators while keeping royalties. Its Berrigan Mine claims are optioned to TomaGold, which reported in June 2026 a 204.25m mineralised envelope grading 2.05% zinc equivalent at depth, and the Mont Sorcier iron-vanadium deposit is optioned to Voyager Metals and Cerrado Gold, with Chibougamau keeping a 2% gross metal royalty on its iron and vanadium production. No NI 43-101 resource has been defined on ground the company holds itself.