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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

Post by marketsenseon Jul 29, 2020 11:14am
127 Views
Post# 31337176

Nice

NiceWell,  all I can say is this has turned out to be quite the mess.  There were signals of selling 
despite all the rosy talk.  That selling has been unrelenting and has taken the stock down to
hopefully a level that can be sustained while waiting for the drill results that never seem to arrive.

As for those results,  yes the labs maybe busy but don't tell me you can't put a push on them
if you really wanted to.  Labs are in business to satisfy their customers and I think a little bit
of persuasive talk might get those results quicker.   I've been in business for years and this kind 
of delay on such a high profile asset as Nelligan is BS IMO.  These delays suit IMG just fine
and I doubt there has been any serious attempt at exerting some pressure on those labs to get 
those results quicker.  IMG has some clout being a senior miner but I suspect they are not using
it to their advantage.

One other point,  when you are in business,  when someone is demanding action,  you do
your best to deliver.  Delays do happen but thats when you need to go all out informing your
customer on a frequent basis how things are going which includes an estimate of a timeline.
There hasn't even been a timeline on when those assays will be ready or did I miss that?
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