Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Northern Star is an exploration gold company based in Canada.
Northern Star holds various exploration projects in Canada.
Its main exploration properties are MALARTIC-MIDWAY, MCKENZIE BREAK and REVILLARD in Canada.
Northern Star is listed in Canada and in United States of America. Its market capitalisation is CA$ 3.5 millions as of today (US$ 3.6 millions, € 2.6 millions).
Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.49, and its lowest recent point on December 24, 2010 at CA$ 0.01.
Northern Star has 175 190 000 shares outstanding.
VanEck Highlights
Founded in 1955 by John C. van Eck, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. VanEck International Investors Gold Fund was launched in 1968, and was the first U.S. gold fund. Today the firm continues this tradition by offering innovative, actively managed investment choices in hard assets, emerging markets, precious metals including gold, fixed income, and other specialized, domestic and international asset classes.
VanEck's mutual funds are sold nationwide through retail brokers, financial planners and investment advisors. Our Funds are designed for investors seeking innovative choices for portfolio diversification; they are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.
VanEck Vectors Exchange Traded Products (ETPs) have been offered by VanEck since 2006 when the firm launched the nation's first gold-mining ETF, VanEck Vectors Gold Miners ETF (GDX). Originally offered under the name "Market Vectors ETFs", on May 1, 2016 we renamed them "VanEck Vectors ETFs" to unite all our offerings under one universal VanEck brand. Today, we offer more than 50 ETFs which span several asset classes, including equity, fixed-income, and currency markets. Many of our ETFs are based on pure-play indices whose constituents must derive a majority of revenues from the target region/sector. VanEck Vectors is one of the largest ETP families in the U.S and worldwide.
VanEck currently manages assets on behalf of more than 400 institutions including endowments, foundations, hospitals, pensions, and private banks. Our traditional and alternative strategies are offered in both fund and separate account portfolios. In addition, we offer the VanEck VIP Insurance Funds, a series of investment choices within the variable annuity contracts and variable life policies of widely known and highly regarded insurers.
https://www.vaneck.com/Home.aspx?country=us
Not sure why but grabbed some
WOW - HUGE volume last few minutes. NSMSF
Picked up 6's watching her run :)
yeah really, i though about slapping the ask for a few hundred bucks on a 'what if', unfortunately i don't trade on 'what-ifs'
I can't take credit for that bid. I would say something probably coming down the pike for sure though.
Who would toss around $14,000 if they didn't at least have a STRONG HINT from somewhere?
Do you have something you would like to share?
Somebody has some massive bid support out for this thinly traded company. I wonder why
Ely Gold to Acquire Northern Star Mining Senior Secured Notes
Unless I'm mistaken or the plan does not
go through, this would make NSMSF shares worhless. Correct?
http://www.americanbankingnews.com/2011/02/15/ely-gold-to-acquire-northern-star-mining-senior-secured-notes/
Ely Gold & Minerals Inc. (“Ely Gold”) is pleased to announce that it has entered into two separate agreements giving it the right to acquire up to 54% of $41,093,488 of the outstanding Senior Secured Notes (“Notes”) issued by Northern Star Mining (TSXV:NSM’H) (“NSM”).
NSM holds several mineral properties in the Abitibi Gold Belt in Quebec including the Malartic-Midway Property, as well as the Beacon Mill and other plant and equipment used in its mining operations (the “NSM Assets”). During 2008, NSM issued Notes having an aggregate principal value of $42,000,000 to a syndicate of private investment funds (the “Lenders”). The funds were to be used for the further development of the NSM Assets, and repayment was secured by a first charge on all of the NSM Assets in favor of the Lenders. The notes were subsequently restructured in 2009, reducing the outstanding balance and extending the maturity date to three years (from two) from the date of issuance.
Under the restructuring, NSM was obligated to pay to the Lenders, at maturity, an amount equal to 137.5% of the principal amount of the restructured Notes plus accrued interest. NSM encountered financial difficulties during 2010 and ultimately in August 2010 NSM filed a notice of its intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada). That proposal never materialized and NSM announced on January 24, 2011 that it had become a bankrupt company. Ely Gold has been advised that, as a result, the Lenders are investigating and pursuing all of their strategic options and have reserved the right to exercise any and all of their rights as secured creditors (including the potential of foreclosing on the assets).
At the initial stage of what is planned to become a longer term strategic alliance with a substantial holder of the Notes, Ely Gold has arranged to purchase a certain amount of the Notes and has been granted options to acquire additional Notes in the future. If the Lenders take possession of the NSM Assets, Ely will become a participating co-owner of the NSM Assets, and will become manager and operator of the NSM Assets. If the Lenders are paid out by virtue of a third party purchasing the NSM Assets at a price equal to the amount owed to the Lenders, Ely Gold will profit in any difference between the price paid for the NSM Assets and what Ely Gold has agreed to pay for the Notes.
Under this agreement and through a separate agreement with another holder of the Notes, Ely Gold will have the right to acquire through purchase and the exercise of options a total of $22.225MM principal value of Notes (Value at maturity: $30,559,375 plus accrued interest).
Ely Gold will initially issue 10,000,000 shares to a substantial holder of the Notes in exchange for $2.5MM principal value of Notes (Value at maturity: $3,437,500 plus accrued interest) and will purchase an option to acquire an additional $5MM principal value of Notes (Value at maturity: $6,875,000 plus accrued interest) for $6,000,000, exercisable until March 1, 2012, for $500,000. Subsequent to the initial purchase of Notes, the substantial Note holder will hold approximately 17.5% of Ely Gold’s issued and outstanding shares.
Ely Gold will initially purchase $3.7MM principal value of Notes (Value at maturity: $5,087,500 plus accrued interest) from certain holders of the Notes for $3.7MM in cash. Ely Gold will also purchase an option to acquire an additional $11,055,130 in Notes (Value at maturity: $15,200,800 plus accrued interest) for $13,744,000 in cash, exercisable until March 1, 2012, for $1,000,000.
The total cash due on closing for both transactions will be $5.2 million, subject to the entering into and terms of any definitive documentation and required consents and approvals, including TSX Venture Exchange approval, and to further due diligence by Ely Gold.
John Brownlie, Ely Gold’s Executive Chairman, commented on the NSM Assets, “We believe there is historical evidence that the Malartic-Midway deposit could be expanded. Ely Gold will institute a plan focused on additional drilling, metallurgical testing and engineering to maximize the developable resources at Midway. Having the fully constructed and permitted Beacon Mill, as well as a production decline in place, will allow any future owner the option to fast track the project towards generating revenue through gold production.”
The Malartic-Midway project covers a 7 km section along the Cadillac Deformation zone between Osisko Mining’s (OOTC:OSKFF) (TSX:OSK) (OSK-TSX) Malartic Mine and Agnico-Eagles’s (AEM-NYSE) Goldex Mine, and includes two former gold producers – Malartic Goldfields Shaft #1 and Malartic Goldfields Shaft #2 with combined production of over 2MM ounces at a recovered grade of 5.85 g/t gold. The Beacon Mill is a fully operational 900 ton per day gold milling facility, located some 15 km east of the city of Val-d’Or, Québec. The mill consists of a complete cyanidation plant with crushing and grinding circuits, Merrill Crowe filters system, all necessary spare parts and gold pour furnace, and is fully serviced with offices, warehouse, and repair shops. It is located less than 2 km from the Trans Canada Highway and only 28 km from the Malartic-Midway Project. Other properties included in the NSM Assets are the McKenzie Break, Callahan, Revillard, Cadillac and Piche Harvey Projects.
“We are very excited to have executed this transaction and would like to thank everyone for their efforts to structure this deal”, stated Trey Wasser, Ely Gold’s President & CEO. “This is an incredible opportunity for Ely Gold to develop some very exciting assets in one of the most coveted gold districts in the world. Having a major Note holder as a partner and a strategic investor in Ely Gold will allow us the flexibility needed to maximize the value of the NSM Assets.”
Stephen Kenwood, P. Geo. is the Company’s Qualified Person as defined by National Instrument 43-101 and is responsible for the accuracy of the technical information in this news release.
On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO
For further information, please contact Ely Gold & Minerals Inc. (OOTC:ELYGF) (TSXV:ELY) at 604-488-1104.
IIROC: Halt, Northern Star Mining Corp.
VANCOUVER, BRITISH COLUMBIA, Jan 25, 2011 (Marketwire via COMTEX) -- The following issue(s) have been halted on the TSXV today:
Company / Compagnie: Northern Star Mining Corp.
TSXV Symbol / Symbole: NSM - V
Reason / Motif: Pending news
Halt Time / Heure de l'Arret: 9:39 am EST
MK
yea, seen it drop as well. No idea though
not necessarily, it all depends on the bankruptcy.
Isn't it true that through bankruptcy all of the previous shares can become void and as the new company emerges they issue new stock?
Private messages are private. But I can say he's not very nice.
You should keep your eyes on this one. NSMSF
I spent this last weekend googleing the heck out of NSMSF and liked everything I saw. And then looked at the price. Yum.
I have an order to buy if this thing hits 005 again which it may when theres virtually no votility.
Either way, when I found LBSR it was a sleeper. I got in at .0013 and flipped out at 100%. Big mistake.
I was just working and browsing random stocks, stock after stock. and ran into this one... Spent my weekend on it.
Their still full of valuable assets not just including exloration but a working, producing mine itself that spits out gold.
The market cap is about half a million. Plenty of room to grow.
Its a bankruptcy play.
Its bankruptcy is why investors left over the last few months...
Driving it to bottom.
Had I found this a couple weeks ago, i would have set a buy order at .002 or nearby and got in at a great price.
But im happy with half a penny as well.
As soon as all this bankruptcy is over.
You will have a fresh debt free company with many assets and little to no liability and then people will start coming back in.
Meanwhile shares are cheap cheap cheap right now.
One day, volume will easily bring this back to where it belongs
Keep your eye on these guys... Set your online broker to alert you of any significant volume changes to keep a closer eye and dont miss out on anything.
What did he say?
Looks awfully undervalued to me. :)
And waiting for more volume,
too sporatic for now...but looks interesting.
Glen.
Thanks for the info, I will watch!
Glen.
Northern Star sued, to file bankruptcy proposal
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=nsm&t=list&m=28505895&l=0&pd=0&r=0
I don't know about buyout. Just wait and watch. Small position won't hurt. Lawsuits are peanuts if company is doing well.
Got any idea who was buying this to make it go up like it did Friday?
And what was the info I was reading about somebody had a lawsuit against the company?
Looks like it could be an interesting play if they get their ducks all lined up!
Any thoughts would be appreciated...
Glen.
Website: http://www.nsmgold.com
Phone: 819-825-8088
NORTHERN STAR ANNOUNCES FURTHER DRILL RESULTS FROM MALARTIC-MIDWAY PROJECT
https://www.otciq.com/otciq/ajax/showFinancialReportById?id=25482
Followers
|
9
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
82
|
Created
|
09/25/10
|
Type
|
Free
|
Moderators |
Northern Star Mining Corporation
is a development/advanced exploration stage company engaged in the acquisition, exploration and development of mineral properties in the Province of Quebec, Canada.
OTCQX Symbol: NSMSF
OTCQX link: http://www.otcmarkets.com/stock/NSMSF/company-info
TSX Symbol NMS http://www.24hgold.com/english/pressrelease.aspx?id=2001646D5010&market=NSM.V
Northern Star , to file bankruptcy proposal
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=nsm&t=list&m=28505895&l=0&pd=0&r=0
Northern Star Mining Corporation is engaged in the acquisition, exploration and development of mineral properties in the Province of Quebec, Canada. The Company is a reporting issuer in British Columbia, Alberta and Quebec, and trades on the TSX Venture Exchange under the symbol NSM.
Northern Star Mining Corporation’s principal project, the Midway property, is a gold project located in the heart of the renowned and prolific Abitibi Gold Belt of Northwestern Quebec, Canada. The Midway project straddles the productive Cadillac tectonic break, associated with most of the gold and base metals’ deposits of the Abitibi mining camp. Total gold produced in the Abitibi camp to date is in excess of 60 million ounces.
The acquisition of the Midway property by Northern Star Mining Corporation was made with consideration of the stable political and economic conditions that exist in Canada. Furthermore, Canada has a long history of gold production. The Abitibi gold belt has produced a significant amount of gold and has been ranked amongst the lowest cost per ounce production area in the world'.
The area is mining friendly, with qualified personnel at the ready, and benefits from rules and regulations aimed at stimulating the mining industry (see information on Quebec). The positive factors inherent in the Midway project more than meets the primary objective established by the Company's experienced management team: to acquire and explore gold and base metal projects in proven mining areas with the potential of becoming revenue-generating mines.
Since the acquisition of the Midway project there has been plenty of activity in the area that supports Northern Star's decision to focus its exploration and development activities within the region. Significant news in the area can be found in the recent developments section of the website, which details such news as the million ounce-plus Lapa gold deposit of Agnico-Eagle Mines and the Osisko DIscovery.
Contact Info
153 a Rue Perreault
Val D'Or, QC
Canada, J9P 2H1
NSM.H Northern Star Mining Corp. NEX EQUITY 175,549,137 / 13,816 / 175,535,321
Market Value1 | $1,633,952 | a/o Sep 24, 2010 |
Shares Outstanding | 168,448,685 | a/o Sep 08, 2010 |
Float | 100,000,000 | a/o Oct 08, 2009 |
This is an excerpt from an article posted on and by Richard Mills - Ahead of the Herd | Jun. 5, 2012, 8:58 PM
http://www.mining.com/niogold-mining-corp/
Northern Star Mining Corp. TSX.V – NSM went bankrupt about two years ago – NSM had quite a bit of property right around, and adjacent to, NioGold’s Marban Block.
NioGold Mining Corp. TSX.V – NOX
http://www.marketwired.com/press-release/oban-mining-to-acquire-niogold-mining-tsx-obm-2086879.htm
http://www.osiskomining.com/news/index.php?&content_id=119
http://www.marketwired.com/press-release/oban-mining-corporation-changes-name-to-osisko-mining-inc-tsx-obm-2134112.htm
“Northern Star's Malartic Midway project was to be Quebec's highest grade mine at 7 to 10 grams. The mine was to be an underground, with a decline and two 3000 foot shafts (inherited from the old Malartic mine). A decline had been started on the western part of the property next door to Osisko's 11 million ounces of gold.
The Malartic Midway project features two different types of gold mineralization: the higher grade gold mineralized gabbros and the larger volume lower grade mineralized porphyries like Osisko.
Fourteen of these near-surface (containing about 90,000 ounces of gold each) mineralized lenses were drilled off. The lenses have been drilled from surface to 1500 feet. One hole drilled in 2007 intercepted a mineralized lens at 5300 feet; at this depth, the mineralized area has seven zones (several high grade breccias and several porphyry lenses).
Mining engineers really like Northern Star's near surface mineralized lenses because of their impressive widths and grade (ranging from 12 feet to 77 feet running 8 to 10 grams/ton). In the old Malartic mine, substantial amounts of one ounce plus material was mined at the 2200 foot level – one hole intercepted 16 feet of 2.5 ounces/ton gold. The initial year of production should be in a range of 30,000-50,000 ounces of gold with the goal of achieving 300,000 to 500,000 ounces/year 3-5 years.” 24hnewgold.com, Heather A. Conley, BSc Geo, The Raya Group
NSM’s bankruptcy focused a lot of attention to the camp because a few extremely large funds in the States had their bonds – bankruptcy means the bonds are worthless. Interestingly enough the rumor on the street is some of these funds have been acquiring more of these discounted bonds, and someone is trying to get the company out of bankruptcy.
The funds that have ended up owning the property obviously must be quite keen on the area. They know a lot about the Malartic Midway project and other potential deposits that are on Northern Star’s property, and of course, a lot of that property is adjoining, actually borders all around NioGold’s Marban Block.
DD and follow up in relation to the Bonds/Notes mentioned in the above article
Ely Gold & Minerals Inc. ("Ely Gold") is pleased to announce that it has entered into two separate agreements giving it the right to acquire up to 54% of $41,093,488 of the outstanding Senior Secured Notes ("Notes") issued by Northern Star Mining ("NSM").
NSM holds several mineral properties in the Abitibi Gold Belt in Quebec including the Malartic-Midway Property, as well as the Beacon Mill and other plant and equipment used in its mining operations (the "NSM Assets"). During 2008, NSM issued Notes having an aggregate principal value of $42,000,000 to a syndicate of private investment funds (the "Lenders"). The funds were to be used for the further development of the NSM Assets, and repayment was secured by a first charge on all of the NSM Assets in favor of the Lenders. The notes were subsequently restructured in 2009, reducing the outstanding balance and extending the maturity date to three years (from two) from the date of issuance.
Under the restructuring, NSM was obligated to pay to the Lenders, at maturity, an amount equal to 137.5% of the principal amount of the restructured Notes plus accrued interest. NSM encountered financial difficulties during 2010 and ultimately in August 2010 NSM filed a notice of its intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada). That proposal never materialized and NSM announced on January 24, 2011 that it had become a bankrupt company. Ely Gold has been advised that, as a result, the Lenders are investigating and pursuing all of their strategic options and have reserved the right to exercise any and all of their rights as secured creditors (including the potential of foreclosing on the assets).
Click on the link for full article
https://elygoldinc.com/news/2011/ely-gold-to-acquire-northern-star-mining-senior-secured-notes
Mr. Williams was previously the CEO and President of Victoria Gold Corp., a high-growth gold exploration and development company with assets in North America. He has extensive experience as a highly-ranked financial analyst in the gold sector and was also Head of Mining Investment Banking at a Canadian brokerage firm. He is currently a Director of two other mining companies. Mr. Williams is a professional mining engineer and holds an MBA from McGill University. He is native of Montreal, Quebec.
"We are very pleased to have Chad's assistance in advancing this exciting portfolio of strategically located properties in Quebec", stated Ely Gold President & CEO Trey Wasser. "Chad was instrumental in crafting Victoria's rapid growth, and his experience in the global mining financial community, plus his deep understanding of the Abitibi region makes him a strong addition to our team. His track record of success and deep professional relationships ideally suits the kind of honest exploration and development approach we intend to apply to the NSM assets."
"The Abitibi Region of Quebec truly remains one of the most prospective regions in the world to explore for gold", said Mr. Williams, "and the NSM land package is definitively well positioned in attractive geologic terrain."
Ely Gold announced on March 4, 2011 that it had entered into two separate agreements giving it the right to acquire up to 65% of $41,093,488 of the outstanding Senior Secured Notes ("Notes") issued by Northern Star Mining ("NSM"). Under the referenced agreement, Ely Gold will initially purchase $4,806,634 principal value of Notes (Value at maturity: $6,609,121 plus accrued interest) for $4,806,634 in cash. Ely Gold will also purchase an option to acquire an additional $14,375,034 in Notes (Value at maturity: $19,765,671 plus accrued interest) for $17,860,681 in cash, exercisable until March 1, 2012, for $1,309,857.
The total cash due on closing under the agreements will be $6,616,491. Both agreements remain subject to financing, definitive documentation and required consents and approvals, including TSX Venture Exchange approval, and to further due diligence by Ely Gold.
Clink on the link below for full article
https://elygoldinc.com/news/2011/ely-gold-to-retain-chad-williams-as-a-strategic-advisor-for-the-northern-star-note-acquisition
Ely Gold & Minerals Inc. ("Ely Gold") is pleased to announce that, further to news releases dated February 15 and March 4, 2011 regarding the acquisition of up to 65% of outstanding Senior Secured Notes ("Notes") issued by Northern Star Mining Corp. ("NSM"), it has entered into two separate amending agreements which provide for completion of its initial acquisition to occur ten business days following the date on which title to the NSM assets is vested in the Note holders by Court Order. The amendment ties closing to the vesting of title rather than a specific date, so that Ely Gold will be assured of receiving an interest in the NSM assets in the first instance rather than an interest in the Notes.
"We are making excellent progress working with the Court and our partners to maximize the value of the NSM assets", stated Trey Wasser, President & CEO of Ely Gold. "The addition of Chad Williams to our team is allowing us to more fully evaluate the assets and establish a solid business plan post-closing. This amendment significantly lowers the risk for Ely Gold as we will now have all property, resource and joint venture issues fully resolved before our shareholders are asked to approve this transaction."
Strategic Advisor Chad Williams commented, "This extension continues to demonstrate Ely's excellent working relationship with the Note holders. We look forward to increasing our financial exposure to the very promising asset package that NSM had assembled in Quebec."
Both agreements remain subject to financing, definitive documentation and required consents and approvals, including acceptance by the TSX Venture Exchange, and to further due diligence by Ely Gold.
Clink the link below for full article
https://elygoldinc.com/news/2011/ely-gold-granted-extension-to-close-acquisition-of-additional-northern-star-mining-senior-secured-notes
http://www.redorbit.com/news/business/2074472/ely_gold_granted_extension_to_close_acquisition_of_additional_northern/
For the last 7 years volume on NSMSF on OTC Markets was fairly low, but on Friday March 24 of 2017 volume was over 25 Mil shares, from 0.0002-0.0015
Clik link below for detailed trades in the past 10 years
http://web.tmxmoney.com/pricehistory.php?qm_page=75626&qm_symbol=NSMSF:US
I'm no expert but, Notes, Bonds, Stocks in Northern Star Mining Corp are owned by Ely Gold, which means NSMSF stocks on OTC Markets might also property of Ely Gold, even though Northern Star Mining Corp has declared Bankruptcy, the shares of NMS still trading on OTC Markets since and someone is loading heavy.
More Related Articles below
http://www.kitco.com/pr/2074/article_02152011185520.pdf
https://ca.finance.yahoo.com/news/Ely-Gold-Acquire-Additional-accesswire-3414427899.html
Coordinates: 48.113491,-77.997362
Address: Val d’Or, Abitibi-Témiscamingue
Interim Consolidated Financial Statements (Unaudited) March 31, 2010
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32896
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |