- CEO
- Vincent Metcalfe Finance
- Sector
- Basic Materials
- Industry
- Other Precious Metals
- Address
- 147, QuEbec Avenue Rouyn-Noranda QC Canada J9X 6M8
- IPO Date
- Oct 7, 2016
- Business
- Comet Lithium Corporation, formerly X-Terra Resources Inc., is a lithium-focused mineral exploration company incorporated in 2013 and headquartered in Rouyn-Noranda, Quebec, Canada. The company acquires, explores, and develops mining properties primarily in Quebec's James Bay region; its flagship asset is the 100%-owned Liberty Property comprising 38 mining claims adjacent to Winsome Resources' Adina lithium deposit, targeting lithium-rich pegmatite deposits; additional key properties include Troilus East adjacent to Troilus Gold's gold-copper deposit, Elmer East where high-grade lithium (up to 1.86% Li2O) and caesium (up to 2.46% Cs2O) were discovered in 2025 assays from spodumene-bearing pegmatites, Mercator, Monarch, Pontax South, Pontax East, and Triple L, providing exposure to lithium, gold, copper, and nickel deposits. In July 2024, Comet Lithium acquired the Mercator, Monarch, and Elmer East projects from Troilus Gold in exchange for 1.5 million common shares and granted a 2% net smelter royalty on each; the transaction closed in August 2024, enhancing its James Bay land position; in October-November 2023, it acquired Pontax South and Pontax East properties; the company changed its name from X-Terra Resources Inc. to Comet Lithium Corporation in June 2023 with new TSXV ticker CLIC; recent exploration includes 2025 programs at Elmer East discovering first spodumene pegmatite, Triple L targeting copper-nickel-lithium anomalies, advanced geophysical surveys, and Phase 1 results from Liberty, Mercator, Troilus East, and Monarch; it raised $832,600 via private placement in December 2024 and divested non-controlling New Brunswick interests in November 2024 while retaining royalties. Comet Lithium operates exclusively in Canada, focusing on early-stage discovery in the prolific James Bay lithium district to support clean energy minerals.