Junior Miner Has Strong Close Following Acquisition Announcement

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, December 5, 2023

A Montreal-based junior miner found extreme success on Tuesday after it announced that it has entered into a definitive arrangement agreement with IAMGOLD Corporation (NYSE:IAG) (TSX:IMG), in which IAMGOLD will acquire all of the issued and outstanding common shares of the company.

Traders were excited on the news as shares of Vanstar Mining Resources (TSXV:VSR) (OTCQX:VMNGF) went on to have a massive session on Tuesday, with shares trading on the Canadian side of things closing up at $0.63/share (+38.46%).

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 Bousquet-Odyno property. The project is 6km from IAMGOLD'S Westwood mine.

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