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Vanstar Mining Resources Inc. VMNGF


Primary Symbol: V.VSR

Vanstar Mining’s Nelligan gold project joint venture with IAMGOLD (25% VSR/75% IMG), located 60 kilometres SW of Chibougamau, Quebec. Vanstar retains 25% undivided non-contributory carried interest until commercial production. Nelligan is one of Quebec’s largest gold projects containing approximately 5.6 Moz of gold. Vanstar has signed an LOI with IAMGOLD to acquire a 75% interest in their Bousquet-Odyno property. The project is 6km from IAMGOLD’S Westwood mine.


TSXV:VSR - Post by User

Comment by SGCGRIMREAPERon Mar 04, 2020 5:08pm
68 Views
Post# 30767369

RE:RE:Buyout soon ?

RE:RE:Buyout soon ?

Peter Grandich claims on his Twitter page that he's bought 2% of the float.The recent IR group they hired go back decades with him so I suspect he's "up-to-date" on corporate developments.

Their 25% of the deposit is worth more than their current market cap. To get another 5%, IAMGOLD must deliver a FFS. If the next round of drill results show the western extension trending nicely, I would look for an offer in 30-60 days. VSR share and their NSR worth minimum 100+ million divided by say 55 million shares or a little under $2, now .70

Seems like a no-brainer.

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