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Bullboard - Stock Discussion Forum 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... see more

TSXV:VSR - Post Discussion

Vanstar Mining Resources Inc. > I do believe that IMG has a history...
View:
Post by RazorRamone777 on Sep 15, 2020 10:28pm

I do believe that IMG has a history...

of playing games with J/V partners and always lowballing a buyout, so since we are part owners, what's to stop US from drilling our own property? How bout a 6 hole program on the Nelligan of our own to prove up what we suspect? It should be easy to prove in court that IMG has been dealing in bad faith, and do all we can to get reparations from them!!!
Comment by SGCGRIMREAPER on Sep 16, 2020 7:12am
Razor Read JV 101 - They're the operator. We can't drill the property. Garland - You're by far, the smartest cookie here. For months you have stated IMG is not drilling this correctly on several fronts, including leaving holes out of the 43-101, and using a much lower cutoff. Well. the little birdie says they have done just enough to gain an understanding of what they got and have ...more  
Comment by Polishprince23 on Sep 16, 2020 8:56am
Another potential scenario.  IMG is taken out by a Major who then drills the hell out of Nelligan and we get are just rewards.  At least I can dream
Comment by RazorRamone777 on Sep 16, 2020 9:47am
Reaper, as you can clearly see, I'm no expert of the rules concerning a J/V. I just find it hard to believe that we can be screwed over by IMG like this without any legal repercussions. They can just shallow drill, or intentionally miss the high grade, or quit drilling, and not add results to the 43-101, and simply base thier possible buy out price on outdated, inaccurate data, and we could ...more  
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