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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

View:
Post by marketsense on Oct 22, 2020 1:10pm

Traction

Remain stuck at this level.  Any time VSR tries to move up,  it is quickly squashed by an
avalanche of selling.  Obviously there is a lot of stock waiting to get out as soon as the bids
build up.  Can't sail against the tide.   The good part of this is that selling is being mopped
up at this level so all is not negative.  Requires more patience but admit it is frustrating in
the meantime.  At some point the selling will be exhausted or the news will be good enough
to overwhelm the selling and we break out regardless.  More patience required.
Comment by VeritasMaat on Oct 23, 2020 12:10am
I totally agree with you, as soon as he starts moving it gets hit.   the question to asked is where does this seller's stock come from?   maybe on the side of the former Board members? having recently left the company their options are now all under the sunset clause, which is usually 3 months after resignation all their options expires.   - are we talking about ...more  
Comment by RazorRamone777 on Oct 23, 2020 11:34am
Why the selling? #1-IMG slow playing the Nelligan #2- outdated 43-101, IMG in no hurry to revise #3- VSR management in no rush to drill the Felix, waiting for freezeup, then wait for drilling, then wait for assays. #4- Even if SUP has stellar results at our western boundry, at this rate it would take IMG decades to prove up the extra 1.5km and get it included as indicated in 43-101 #5- election ...more  
Comment by goldbug1965 on Oct 23, 2020 3:58pm
#3 : They have to wait for freezeup to drill Felix. The summer campaign was cancelled because of the abundance of wet terrain on the property if I recall correctly. (It was in a PR).
Comment by RazorRamone777 on Oct 23, 2020 4:09pm
Whatever the reason, we are sitting on dead money for the foreseeable future. There is no catalyst to reach a new high in the S/P anytime soon, unless the billionaire guy Reaper gets out of prison and decides to but back in, however I doubt that since a little birdie told me he sold all his shares at a loss some time ago to raise money for lawyers and bribes.
Comment by goldbug1965 on Oct 25, 2020 8:09pm
Stock is trading at close to intrinsic value probably even a little bit undervalued. Sadly, unrealistic promises made by PG to his followers for the last 6 months created a lot of expectations. I expect more selling as PG's circus slowly realizes a buyout at $3-$4 isn't gonna happen soon... (I don't say never but definitely not "before year end" like PG pretends) On the other ...more  
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