What is Roche Bay plc.?
Roche Bay plc is a single asset iron-ore holding company that owns extensive mining leases at Roche Bay on the Melville Peninsula in Nunavut, Canada. Roche Bay’s holdings cover what is believed to be one of the largest known set of magnetite iron bodies in the world. Roche Bay is first focused on developing its Eastern Deposits with the help of the operating and managing partner Advanced Exploration Inc. This JV refocuses Roche Bay into a holding company with an economic interest in the asset, but no management requirement. This results in a very low estimated carry cost with less then 4 full time employees and no significant exploration expenses as the first project develops. This however is offset by a lack of control over the asset, as long as Advanced Exploration develops the property they get to decide on the type and size of mine. They also get to decide what ore bodies to develop first. If Advanced Exploration does not advance the property Roche Bay could be back in the operator
