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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 RazorRamone777on Sep 18, 2020 8:51am
155 Views
Post# 31580017

The truth (if that matters) is...

The truth (if that matters) is...there will be no competitive bid. Since any bid would be based on an outdated, lowballed 43-101. One that IMG refuses to add to. IMG themselves may offer VSR a few dimes more on their buyout price knowing this, BUT no outsider will come in and bid higher. The good news is that we will ALL be winners and make some money, some more than others. The bad news is, this is WRONG and it STINKS! IMG has us over a barrel because we are a one trick pony and really have little to no power. We could "hope" for SUP to hit it big next door thinking this might cause IMG to be more charitable towards us poor beggars OR we could drill the FELIX were we already KNOW where some of the gold is!!! This is a no brainer! Get those drills spinning! When we start proving up our 100% own resource, it will give US power to drag our feet at the Nelligan and refuse low ball offers. If it looked like a big fish were going to come in and eat the whole thing, would not IMG be much more eager to prove up the 43-101, thus enriching themeslves?
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