Electra Stone Ltd. Sees Opportunities as the First Publicly Traded Jade Company

Mining & Minerals - Evaluations / Other Non-Metals

Date posted: 07/05/15

Greg Klein asks what prompted Electra Stone to become the first publicly traded company to pursue jade? For starters, president John Costigan answers, a tremendous price increase. In 2004, A-grade B.C. jade was $40 a kilogram. Last year it sold for $1,800 a kilogram. Obviously something big was happening, but under the radar of other juniors. Taking advantage of the British Columbia importance to global jade supply, Electra began acquiring properties, not to mention expertise. Now, with summer exploration slated to begin imminently, the company sees jade opportunities beyond exploration and mining. Electra Stone sees opportunities as the first publicly traded jade company British Columbia supplies about 75% of the total nephrite jade, presenting opportunities that Electra believes other juniors have missed. The Chinese have virtually mined out all their domestic jade, Costigan says. But they have an emotional and spiritual connection to this stone. It is far more significant than an attachment to say gold or silver. The Chinese will actually use jade as a currency and as a storehouse of value, much like gold but it has a spiritual element to it as well. According to belief, jade, especially green jade or B.C. jade, can confer good health and good luck upon a person. Of the two types of jade, jadeite is the more costly, which comes in different colors from Myanmar and Burma. Dwindling supplies and a re-awakened interest in Chinese traditional jade have increased consumer interest in nephrite jade, of which B.C. produces about 75% of global supply. A-grade nephrite is used in jewelry and carvings. B-grade finds uses in furniture or architectural adornments. Costigan sees a neglected market for B-grade jade. With attributes largely overlooked by B.C. suppliers, jade characteristics make it an ideal dimensional stone, he says. First of all, it is harder than granite or steel, Costigan claims. It is non-porous so it does not stain, he claims.