January 27, 2025 — In an enlightening interview on Investor.News, Brent Willis, President, CEO, and Director of Voyageur Pharmaceuticals Ltd. (TSXV: VM), discussed the indispensable role of barium, specifically barite (barium sulfate), in today’s economy. Highlighting its critical status, Willis explained, “Barite’s number one use is for oil field drilling…it’s got a specific gravity of 4.4 and when you’re drilling a well, you’re adding barite to overcome the pressure so you can continue to drill deeper.” He also emphasized barite’s vital role in the medical field, particularly in radiology, where pharmaceutical-grade barite is scarce and highly valued. “There’s not enough pharmaceutical grade in the world…it’s actually what’s used in the radiology industry is synthetic…it’s called the barium precipitate, and it’s very expensive.”
Willis provided insights into the reasons behind barite’s designation as a critical mineral by authoritative bodies such as the U.S. Geological Survey and the European Union, attributing it to the lack of domestic production and the heavy reliance on imports, mainly from China and India. He noted, “The United States, I think imports well over 80% of their barium needs.” This dependency underscores the strategic importance of barite in maintaining the operational integrity of key industries across the globe.
The conversation also touched on the different listings of barite and barium as critical minerals in various regions, with Willis explaining the cultural variations in its classification. “It’s very critical in all these countries and it’s hitting their critical mineral list because of the dependence these economies need to import these products,” Willis stated. His extensive experience with barite, particularly at Voyageur’s Frances Creek barium sulphate (barite) project, further underscores the mineral’s significant economic potential, where high-grade deposits are leveraged for substantial profitability in the pharmaceutical sector.
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About Voyageur Pharmaceuticals Ltd.
Voyageur, a Canadian public company trading under the symbol VM on the TSXV, is in development of barium and iodine Active Pharmaceutical Ingredients (API) and intends to offer high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium and iodine contrast markets, Voyageur aims to become a key player by producing its own barium, iodine, and new endohedral fullerene drugs (C60). Voyageur has developed five barium contrast products that have Health Canada licenses.
Voyageur’s business plan is set to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada thereby ensuring the validation of its products by regulatory agencies worldwide. As Voyageur solidifies its presence in the market, it plans to transition into a high-margin domestic manufacturer of radiology drugs, further expanding its revenue streams.
At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project. Currently, the world’s pharmaceutical barium sulphate is almost entirely synthetically produced which management believes results in a less effective imaging quality product. Voyageur’s Frances Creek resource boasts a rare and exceptional grade mineral suitable for the pharmaceutical marketplace that Voyageur believes will replace the current synthetic products with higher quality lower cost imaging products.
Voyageur’s ambitious vision is to become the first vertically integrated company in the radiology contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to final production, Voyageur intends to ensure quality and cost efficiency. With its approach, it embodies the motto of “From the Earth to the Bottle,” highlighting Voyageur’s commitment to responsible sourcing and manufacturing practices.
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