New post from PG RE: SUP with Nelligan a key https://petergrandich.com/2023/01/30/northern-superior-resources-a-name-to-watch-in-2023/ It potends some M&A hopefully not screwing VSR shareholders. Time will tell
Northern Superior Resources (TSXV: SUP) (OTCQX: NSUPF) announced a fully subscribed financing last week. Not only was the placement already spoken for at the time of the announcement, but the Company indicated that the investors are institutions and strategic partners. Adding to this, insiders of the company took down a substantial portion of the financing themselves (nearly $1 million) including the Chairman, the CEO, and other directors, including Michael Gentile, a well-known strategic investor in the mining sector who now owns close to 20 percent of Northern Superior Resources. The financing was done at C$0.50, with no warrants. It shows the strength of support behind the company.
I also would remind you that, just 2 weeks ago, IAMGOLD published a new resource on Nelligan, going from 3.2Moz to 5.2Moz. Nelligan is rapidly getting to a size where a deposit can become a mine. Northern Superior Resources has been busy consolidating that same camp and buying all other relevant deposits in the area. This has increased the value of those ounces as they can now be looked at as part of a same operation. Also keep in mind that Northern Superior Resources has been announcing a lot of very impressive drilling results recently. A lot more results are expected (20,000 meters or so), and we are also expecting soon the publication of a resource calculation on one of the Company’s key projects, Philibert. This project is neighboring Nelligan. Then later in the year, we could see a resource calculation on the Lac Surprise. Based on the recent drill results, looks more and more like the western extension of Nelligan itself. When you add up their Croteau-Est Deposit, the Falcon Zone at Lac Surprise, the Chevrier deposit (acquired in May) and the Philibert deposit (acquired in September), Northern Superior Resources could be knocking on the door of 4mm oz of resources by year-end.
2023 should be a very busy year for Northern Superior Resources. We may very well be witnessing the emergence of a new “Malartic”, which gave us Osisko (now owned by Agnico Eagle). Adding to this, the Company also indicated that it could spin off its well known TPK project in Ontario, which recently received its drilling permits. This could also be an important catalyst, as this is one of the most compelling district scale exploration targets in the industry.
With a commanding positon in an emerging commercial scale mining district in Quebec, and compelling exploration upside from their proposed TPK spin out, Northern Superior is a name to watch in 2023.