Post by
SPACEDOC on Jan 17, 2023 5:03pm
Gentile M&A with IAG/VSR for Nelligan???
https://www.youtube.com/watch?v=ZxRg5Qrmw6Q
Northern Superior Resources CEO Simon Marcotte and Director Michael Gentile joined Steve Darling from Proactive to share news the company has released the first drill results from the Falcon Zone on the Lac Surprise property in Quebec. Those results along with the 6 remaining drill holes are expected to be used on a maiden resource calculation in 2023. The company has also put out the last assays from the Arctic Fox Zone at the Philibert gold property in Quebec. The results were positive like hole DDH PB-22-360 returned 5.96 g/t gold over 10.0 metres 180.0 to 190.0 metres, including 11.2 g/t Au from 181.5 to 182.0 metres. Northern Superior also shared that IAMGOLD has released an updated resource estimate on the Nelligan Project going from 3.2 million ounces to 5.2 million ounces of Gold
Comment by
ltibgm on Jan 19, 2023 10:49am
My guess would be that SUP will purchase VSR's 25% stake in Nelligan using the funds of selling 25% of Falcon to IMG. In the end, SUP and IMG end up with ~5 million oz each of the combined project???
Comment by
SPACEDOC on Jan 19, 2023 11:08am
They need to purchase the 1% royalty also which won;t come cheap. Hey if we are left with our other projects and cash and only give up Nelligan that's not too shabby if we get a double from here, keep the 1% royalty and have a stock still out there albeit worth pennies