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Vanstar Mining Resources Inc. 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 edmedon Dec 05, 2023 9:42am
153 Views
Post# 35768731

Thoughts

ThoughtsCertainly not as much as I was expecting.
Agree I was looking for at least $1.50
This is also a blow to Northern Superior Minining ie SUP who I am sure was looking for an eventual joining of the Nelligan asset interest with their own.

On the upside we will be holding more stable shares in a better company with better management for sure.
Also with this aquisition it makes IMG a much more attractive takover target and I am pretty sure IMG's days will be numbered in the next 18 months
So we sould be partcipating in another share price increase by way of a second takeover.

Not sure how I am going to vote but this is not a total loss of shareholder value for us

edmed
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