Bullboard - Stock Discussion Forum Vanstar Mining Resources Inc. V.VSR

Metals & Mining Gold

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. > realistic share value

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Post by garland on Feb 04, 2023 1:25pm

realistic share value

IMHO, based upon prices paid for gold resources in the ground within the Nelligan corridor, a very safe and ridicuously low valuation would be paying $70.00 cdn /ounce in the ground for those gold resources. Therefore VSR's share currently for Nelligan is 1.3 million ounces which give a value of 91 million plus 10 million for the nsr which equals 101 million .Now divided by 58 million shares outstanding. That gives you an absolute rock bottom price TO START THE PROCESS of $1.74 cdn / share.This should be the starting point for any serious take over offer NO LESS!!!!! ( add 5 cents / share for cash if you wish) This number is what the shareholders MUST defend !! (obviously the current price is INSANE!!!)

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Comment by Polishprince23 on Feb 04, 2023 2:05pm

Thanks garland. The elephant in the room is time value of money. We are not in control of moving the Nelligan project forward or expanding the ounces. IMG has complete control. When will they start to quicken the pace for Nelligan, this year, next year, 2025, when? That I believe is what is holding our stock price down. Until then, all we can do is sit and wait ...more

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