Vanstar Mining Resources Inc. V.VSR

re garland

[garland]

Unclebobby   - -  go back on the bullboards to march 24th 11.32 pm  posted is a very comprehensive estimate of my conservative reserve addition 1.2 million ounces in the western extension ( a conservative number)   Add to Nelligan 3.2 +1.2 =  4.4 million ounces and growing .  Read my other post -first thoughts on hole 191  The big change will be when I get a map on where IMG is drilling the deep holes (800m+) These holes will likely encounter THICK intervals of higher grade gold which will rapidly increase reserves to well OVER 5 million ounces. The big addition will come with the deeper drilling around and underneath some 24 + holes already existing outside of the pitshell and have NOT been included in the 43-101  Hope this answers your inquiry  - Garland.

[Cashcow49]

thanks for you reply, cheers

[Cashcow49]

thanks for you reply, cheers

[edmed]

According to Garland's conservative estimate we have   Nelligan 3.2 +1.2 =  4.4 million ounces and growing  several years back IMG purchased Trelawny Mining for 608 million  they had about 5 million ounces indicated and inferred at the time according to this purchase we should presently be worth apprximately $2.67  that is based on the 4.4million ounces and

[marketsense]

That's why its very frustrating to see the s/p price so disconnected from the value. This company is trading like there is no value associated with it.   Nothing could be further from the truth(facts).   I have a sense that whomever keeps trying to sell is  finally done,  you might see a good jump just on that alone.   The question as always is how much patience do you

[blueskies]

Another comparable could be INV Metals Loma Larga project which was purchased by Dundee Precious Metals last summer. I suggest it as a comparable because IMG held about 35% of the project from my memory. DPM purchased Loma Larga for $132 million Canadian, or approximately $50 per ounce. The project had reserves of 2.6 million ounces as per the completed feasibility study.  I believe the