James Bay Resources Limited
Climate Impact & Sustainability Data (2013, 2014-01-01 to 2014-06-30)
Reporting Period: 2013
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Seek financing to fund working capital and further the foundation of its proposed oil and gas business in Nigeria, including well planning and jack-up rig deposits.
Environmental Challenges
- Continuing operating losses and a working capital deficiency.
- Dependence on obtaining equity capital and financing for working capital and exploration.
- No history of profitability.
- Risks associated with the Nigerian petroleum industry (taxation, environmental compliance, regulatory and political factors, labor unrest).
- Government regulations governing prospecting, development, production, environmental protection, mining taxes, and labor standards.
- Market fluctuations and uncertainty about commercial quantities of resources.
- Mining risks (geological formations, cave-ins, flooding).
- Liability for pollution, damage to life or property.
- Competition with companies with greater financial resources.
- Environmental protection regulations.
- Potential aboriginal claims.
Mitigation Strategies
- Seeking financing to fund working capital and exploration.
- Seeking additional opportunities (acquisitions or joint ventures).
- Efforts to comply with applicable laws and regulations.
- Ongoing assessment of new properties and seeking to acquire an interest in additional properties if there is sufficient geologic or economic potential and adequate financial resources.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRS
Third-party Assurance: McGOVERN, HURLEY, CUNNINGHAM, LLP
Reporting Period: 2014-01-01 to 2014-06-30
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Seek financing to fund working capital and oil and gas business in Nigeria (well planning, jack-up rig deposits).
Environmental Challenges
- Securing financing for oil and gas projects.
- Regulatory and political risks in Nigeria.
- No history of profitability.
- Limited financial resources.
- Government regulations and obtaining/maintaining licenses.
- Market fluctuations and ensuring commercial quantities.
- Mining risks (geological formations, cave-ins, flooding).
- Environmental protection regulations.
- Potential aboriginal claims.
Mitigation Strategies
- Seeking equity capital and financing.
- Seeking additional opportunities (acquisitions or joint ventures).
- Complying with government regulations and obtaining necessary permits.
- Managing risks through insurance (where possible).
- Cooperative relationships with indigenous people.