Catching up with $QIMC & $QMET

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Follow The Money Investor Group
@FTMInvestAug 29, 2025

The Spaces featured host Carl Boyd with John (Quebec Innovative Materials Corp., QIMC) and Richard (Q Battery Metals, QMET) discussing Nova Scotia’s emerging natural hydrogen play. QIMC outlined a five-week campaign with 1,000+ soil gas samples across ~600 km², identifying four clustered “hot zones” (West Advocate, East Advocate, Springhill, Southampton), including a record 5,558 ppm H2 at West Advocate—evidence of a working geological hydrogen system. John explained why Nova Scotia’s thin cover makes soil gas seepage the key front-end tool, later paired with seismic to define reservoirs. QMET reported significant readings on the Apple River–Shirley–Sandy corridor (up to 18 ppm so far) and stressed clustering and imminent scale-up. Next steps include fast-tracking detailed grids, combining phases, and drilling in Nova Scotia, with strong community and regulator support. The team is expanding in the U.S. (Minnesota DNR engagement; Houston meetings) via a private SPV (Orvian, valued at US$21M). They addressed market momentum, policy tailwinds, funding (QIMC >$1.5M; slim holes ~C$120k to 250–300 m; QMET financed), permitting (NS, ON, QC), valuation, and anticipated partnerships. A steady news pipeline is expected across Nova Scotia, Northern Ontario, and U.S. expansion.

Breaking Ground: Nova Scotia’s First Natural Hydrogen Discovery — Summary Notes

Speakers and Roles

  • Host: Carl Boyd (Follow the Money Investor Group; X Spaces host)
  • John (QIMC — Quebec Innovative Materials Corp.; program lead for natural hydrogen exploration)
  • Richard (QMET — transcribed variously as QMAT/Qmed; represents the company’s Nova Scotia hydrogen exploration initiatives)
  • Scientific/Community collaborators referenced: INRS (Institut national de la recherche scientifique), Prof. Laflèche; members of a First Nation (transcribed as “tomisca make”); Nova Scotia Mine Management team; Minnesota Department of Natural Resources (DNR) Gas Division

Context and Theme

  • Theme: Nova Scotia’s first natural hydrogen discovery and its implications for clean energy, district-scale potential, and the emerging land-rush dynamic in natural hydrogen.
  • Format: Update on field results (Nova Scotia and Ontario), technical method and significance (soil gas hydrogen ppm), forward program (surveys, drilling), US expansion (Minnesota, Houston), market/policy backdrop, funding, permitting, valuation, and partnership outlook.

Key Discovery Highlights (Nova Scotia)

  • QIMC multi-week survey (5 weeks) with INRS and community participation collected over 1,000 soil gas samples across QIMC’s claims in Nova Scotia.
  • Four major hot zones emerged:
    • West Advocate (announced): highest recorded hydrogen soil gas for QIMC at 5,558 ppm; 65+ samples >500 ppm; 21 samples >1,000 ppm.
    • East Advocate (identified; data to come)
    • Spring Hill (identified; data to come)
    • Southampton (identified; data to come)
  • Significance:
    • Clusters of high hydrogen readings (not isolated anomalies) strongly indicate a working geological hydrogen system.
    • Confirms Nova Scotia as one of the most promising natural hydrogen plays in North America per QIMC’s model.

What “ppm” Means and Why It Matters

  • ppm refers to hydrogen concentration measured in soil gas seepage at surface.
  • Methodology emphasizes near-surface sampling in areas with minimal sediment cover (Nova Scotia), effectively sampling “directly into rock,” enhancing detection of advective chimneys that channel gas along faults.
  • This surface seepage method (used by operators such as Gazprom in other contexts) identifies hot zones; pairing it later with seismic helps target subsurface accumulations/reservoirs.
  • Takeaway: High and clustered ppm values at surface are critical evidence of an active hydrogen system and efficient first-pass vectoring tool.

QMET’s Nova Scotia Results and Positioning

  • QMET reported significant hydrogen-in-soil results (up to ~18 ppm to date on their ground in the Apple River–Shirley–Sandy corridor).
  • Richard’s framing:
    • The broader dataset (including QIMC) shows thousand-plus ppm results, validating the system; on QMET’s ground, the key is consistent clusters of elevated (double-digit) ppm rather than isolated highs.
    • Clustering across multiple sites signals a working corridor, not background noise, and underpins district-scale potential.
    • QMET benefits from applying INRS/QIMC’s proven protocols that yielded QIMC’s record result; same science is being applied to QMET’s claims on-trend.
    • Next steps for QMET: scale up sampling (additional samples already in analysis), refine targets with layered datasets, and move toward drill-ready hydrogen prospects in parallel with QIMC.

Program Next Steps (Field and Technical)

  • QIMC:
    • Accelerated program due to high concentrations; phases 2 and 3 effectively combined.
    • Team back in the field in September for detailed surveys to further tighten hot zones; drilling to follow (slim tests planned ~250–300 m depths).
    • Additional press releases expected for East Advocate, Spring Hill, and Southampton.
    • Land position in Nova Scotia expanded to ~600 km²; district-scale control is central to strategy.
  • QMET:
    • Focus on the Apple River–Shirley–Sandy corridor; continue soil sampling and technical work; define multiple hot zones; advance to drill targeting.
    • Leverage INRS collaboration to ensure robust, bankable science.

US Expansion and Corporate Structuring

  • Minnesota:
    • QIMC formally invited by the Minnesota DNR Gas Division (manages ~12 million acres) for early September meetings to finalize steps and significantly expand land packages in-state.
    • QIMC leadership (including Prof. Laflèche) will attend; part of a broader US push.
  • Private US vehicle: Orvian (QIMC’s US vehicle) carries a US$21 million valuation as per QIMC’s US partners/investors.
  • Houston:
    • QIMC to meet US partners in Houston; much of the company’s partner network is Houston-based.
  • Other US states: additional land packages in two other states under review.

Macro/Market Dynamics and Policy Backdrop

  • Sector momentum: Significant capital is flowing into natural hydrogen; compared to early oil rush dynamics where prime acreage acquisition was decisive.
  • Competitive landscape: Reference to a US competitor “Columa” (transcribed) expanding in Tanzania, the Philippines, and seeking Canadian entry; QIMC asserts control of prime land across Eastern Canada.
  • End-user demand: Interest from industrials and natural gas players wanting to blend hydrogen to reduce CO2 intensity and capture carbon credits; downstream ammonia market is large and strategic.
  • US policy: A recent bill promoting drilling aligns with natural hydrogen development; rising state-level interest (e.g., Minnesota’s unsolicited outreach).

Funding, Costs, and Capital Allocation

  • QIMC:
    • “Fully funded to drilling.”
    • Hole economics: slim test hole ~C$120k; typical target depth 250–300 m in Nova Scotia given strong surface seepage (contrast: some US plays like Kansas may require multi-km wells).
    • Current liquidity: combined cash and marketable securities >C$1.5 million.
    • Strategy prioritizes rapid land capture and model validation; drilling is characterized as the “easy part” once hot zones are well constrained.
  • QMET:
    • Closed financings over the summer; funds directed into Nova Scotia exploration programs.
    • Lean cost structure enables rapid execution and high exploration torque for shareholders; leverages partnerships (QIMC/INRS) rather than building in-house overhead.

Permitting and Social License

  • Nova Scotia: QIMC reports being fully permitted for work heading into November; Nova Scotia Mine Management engaged early and supportive (expediting queries and facilitating land expansion).
  • Northern Ontario: Municipal approvals received for work to the west of current area; >1,000 samples collected over the summer with results to be rolled out.
  • Quebec: Province issued a drilling permit (described as a first for Quebec in this context).
  • Social acceptability: Noted as being in place in both Ontario and Nova Scotia.

Valuation, Recognition, and Strategic Optionality

  • QMET (Richard): Focus remains on proving up resources and unlocking value via discovery. As projects mature, QMET expects optionality between advancing toward production and/or JV/partnership routes.
  • QIMC (John): Market yet to fully reflect value; deliberate strategy to secure land positions before ramping releases. Expects valuation to adjust as Nova Scotia/Northern Ontario/Minnesota results and land growth are disclosed. US SPV (Orvian) valuation at US$21M underscores US investor interest.

Partnerships: Majors and Governments

  • QIMC is in active discussions with provincial (Quebec, Ontario, Nova Scotia) and US state entities; invited to Minnesota DNR; meetings with US partners in Houston.
  • Anticipates acceleration of major-company and government-level engagements given strategic nature of natural hydrogen.

Strategy: “Land Game” and Differentiation

  • Strong agreement that natural hydrogen exploration is fundamentally a land game at this stage.
  • Differentiators:
    • Control of prime acreage over best hot zones.
    • Proven surface seepage science (soil gas + advective chimney detection) paired with targeted geophysics and efficient drilling.
    • Speed of execution and community/government alignment.

Forward News Flow (Next 3–12 Months)

  • Nova Scotia: Sequential releases beyond West Advocate (East Advocate, Spring Hill, Southampton). Ongoing infill/detailed surveys; near-term drilling.
  • Northern Ontario: Results from >1,000 summer samples to be rolled out; social license in place.
  • Minnesota: Land package expansion with DNR; further US states under review.
  • Expect a steady pipeline of results, land transactions, and program milestones (QIMC and QMET operating in parallel on-trend).

Community and Stakeholder Engagement

  • Acknowledged support from Nova Scotia communities (West Advocate, East Advocate, Southampton, Spring Hill) and the Nova Scotia Mine Management team.
  • Collaboration with INRS and First Nation representatives (as transcribed) in field programs.
  • Shareholder communication channels:
    • QMET: website and press releases include direct contact for Richard (phone/email).
    • QIMC: active on X (Twitter), maintains a Discord (≈150 members) and engages on CEO.ca; invites investor queries via social and corporate channels.

Key Takeaways

  • QIMC has delineated multiple high-grade hydrogen seepage clusters in Nova Scotia (record 5,558 ppm), validating a working geological hydrogen system with district-scale potential.
  • QMET’s on-trend results and clustering are consistent with an active corridor; more assays pending; both companies are advancing toward drill targeting with shared scientific protocols.
  • Strategy centers on rapid, district-scale land control, high-resolution surface geochemistry, and efficient, shallow slim-hole testing.
  • US expansion is underway (Minnesota DNR engagement; Houston partnerships; US SPV valuation), with additional states being assessed.
  • Permitting and social license are advancing smoothly across Nova Scotia, Ontario, and Quebec.
  • Funding is in place for near-term work; both companies emphasize capital efficiency and partnership-driven execution.
  • The macro backdrop is favorable: increasing capital flows, policy support for drilling, end-user interest (hydrogen blending, ammonia), and a competitive land rush dynamic.