Brunswick Exploration (TSXV: BRW),  an exploration company focused on arguably the most important critical minerals in the world, lithium, witnessed its stock price sleeping above $1. The stock price hasn’t skyrocketed but followed a continuous and steady uptrend buoyed by solid news, from increased financing to option claims package containing four spodumene-bearing pegmatites hosted within a much larger pegmatite field. It is also good to mention the company has been selected for the TSX Venture 50. 

Company Overview

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Early-stage exploration business Brunswick Exploration (TSXV: BRW) is exploring metals required for decarbonization and the switch to renewable energy sources. The corporation has several projects in Ontario, Quebec, New Brunswick, and Nova Scotia. One of the few businesses, Brunswick, conducts grassroots research to locate new lithium finds, offering a high-risk, high-reward venture. Another mining firm focusing on ESG issues is Brunswick Exploration. To ensure that the firm has the least possible impact on properties, every action the company takes seeks to safeguard the environment and promote environmental consciousness. The Hearst project is one of the portfolio's standouts. The project, situated in Ontario, consists of 1,418 cells and 226 claim blocks encompassing 29,805 hectares of land.

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The company's Quebec-based assets, which include a project optioned next to Patriot Battery Metals' Corvette discovery, are also fascinating. The James Bay region of Quebec's Mythril and Elrond sites include potential Lithium Cesium Tantalum deposits, and Brunswick Exploration has inked an option deal to purchase up to 85% of that interest. In addition, Brunswick purchased a 90% stake in the PLEX project, which is located in the same shear zone as the Corvette project and covers a section of it. There are 375 claims totaling 19,175 hectares in the most recent acquisition. In order to investigate the PLEX and Mythril projects, the business anticipates launching a regional prospecting effort in late Q2 2023. More than 250 untested S-type pegmatites with a minimum strike length of 600 meters are also part of its James Bay portfolio of properties; they will also be examined later this summer.

To reward the company, it has been nominated as one of the top performers on the TSX Venture 50. It ranks the top 10 performing companies from each of the five sectors based on three equally weighted criteria (share price, appreciation, trading volume, and market cap growth). 

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“It’s a great honour for BRW to be included as a winner of the Venture 50 list. This will be an exciting year for us as we look to launch one of the largest lithium exploration programs in Canada focused on an exciting portfolio in Quebec, Ontario, Manitoba, Saskatchewan, and Atlantic Canada. Sign up for our newsletter on our website, www.brwexplo.ca, and we look forward to continued growth in 2023.”

Killian Charles, President and CEO of Brunswick Exploration

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In late January, Brunswick Exploration also announced it optioned multiple spodumene-bearing pegmatites in Saskatchewan. The Hanson Lake project consists of 12 claims totalling 16,103 hectares, all located between Hanson Lake and Jan Lake, Saskatchewan. The Hanson Lake pegmatite field has been well-known since the 1960s, although beryllium, tantalum, and other rare metals were the main targets of exploration. The bigger Jan Lake granite-pegmatite suite, which is present across the entire package, has an 8 km by 3 km corridor, which includes the pegmatite field. No pegmatites have been routinely sampled or drilled for lithium, and the majority of the property still needs to be detailed mapped. Four distinct pegmatites containing spodumene have been identified, with the largest measuring up to 16 meters in width and around 550 meters in strike length.

Brunswick will pay a total of $700k over 4 years to acquire the Hanson Lake project. 

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Share Structure / Financials

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Before the $6M private placement, the company had issued 169.5M shares, 1.8M options at $0.35, and 8.3M warrants at $0.25. The share structure is tightly controlled. Insiders hold ⅓ of the share structure, with the rest being divided by the family office (18%) and Osisko Group (10%), leaving retail investors to access only 37% of the tradable shares. 

To explore projects in Quebec, Ontario, Saskatchewan, and Manitoba, the company intended to raise at first $5M to finally retract and close a bought private deal placement at $6M, added to a concurrent non-brokered private placement of $2M. The $5M bought deal offering will be completed thanks to the issuance of 5.8M shares at $0.85 (each share is entitled to a $1.25 warrant). 

Since late October 2022, the stock price has steadily grown before accelerating in mid-January. Since the beginning of 2023, the stock price has increased by +100%. While its 52-week low of $0.14, BRW currently pushes its 52-week high upper as it has been topped on February 28, 2023, at $1.17. 

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Bottom Line

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Brunswick Exploration (TSXV: BRW) continues to impress. The $6M financing will help the company aggressively explore its properties in Canada. The recent  Hanson Lake project acquisition leverages the company to intercept new opportunities. Stay tuned to this silent, soon-to-be-giant nominated as one of the top performers on the TSX Venture 50.

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