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Northern Superior Resources Inc V.SUP

Alternate Symbol(s):  NSUPF

Northern Superior Resources Inc. is a Canada-based gold exploration company focused on the Chibougamau Camp in Quebec, Canada. The Company has consolidated the land package in the region, with total land holdings exceeding 62,000 hectares (ha). The main properties include Philibert, Lac Surprise, Chevrier and Croteau. It also owns 72% of ONGold Resources Ltd., which is advancing exploration assets in Northern Ontario, including the district scale TPK Project. The Philibert Project is located 9 kilometers (km) from IAMGOLD Corporation’s Nelligan Gold project. It holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by Mines Royales and Soquem Inc., and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au and an indicated mineral resource of 260,000 ounces Au. Croteau hosts an inferred mineral resource of 640,000 ounces Au. Lac Surprise hosts the Falcon Zone Discovery.


TSXV:SUP - Post by User

Comment by massivemeltdownon Apr 01, 2010 12:29pm
185 Views
Post# 16949259

RE: RE: New out today...

RE: RE: New out today...Now someone of the same mind....money, and nothing but money.  I love it!  I would argue the issuance of the shares is of little excitement however now that ownership is 100% the possibility of a buyer down the road is more likely.  I suspect the strategy is to pretty up this pig and get some weight added, or in this case some ounces, and a white knight will take this baby home and roast it up for dinner.  Hoschild is likely looking at LSG as their mainstay and to fund operations down the road they likely have an exit strategy for the SUP shares.  As they drill up a resource, the share price should improve and to a final end when they finally get bought out, some kind of premium will be reflected in any offer.  So I don't mind this transaction although the dilution is a tough pill to swallow....my hope is the next one we take may be a "poison pill".  Time will tell and the fact you have been here for ions makes me think you may have another couple years in you...gl!  :)
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