Canstar Resources Inc V.ROX

Sprott buys more shares of Canstar today

[kojack1]

Eric Sprott has purchased 6,934,537 common shares of Canstar Resources Inc. at a price of $0.375 per share for a total of $2,600,451.

The purchase of 6,934,537 shares represents an increase of approximately 6.7 per cent of the outstanding shares. 

Mr. Sprott now beneficially owns and controls 27,863,339 shares and 10,527,000 share purchase warrants representing approximately 31.6 per cent of the outstanding shares of Canstar.

The shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Canstar Resources on the open market or through private acquisitions or sell securities of Canstar Resources.

Canstar Resources is a Canadian mineral exploration company focused on creating shareholder value through the discovery and development of economic mineral deposits in Newfoundland and Labrador. 

Canstar Resources Inc. (ROX) is up 8.43 per cent, trading at C$0.45 per share at 2:45 pm ET.

[Flyder]

I haven't done a thorough review of how much Sprott has invested in which Nfld companies, but if memory serves me correctly, he hasn't increased his position in all of them.  Just a few.  I find this interesting that he has made another significant purchase of shares in Canstar.  One does wonder what makes him decide to do that, before drill results are published.