Dear Shareholders and Friends of ILST, I wanted to provide you with a corporate update.
Management continues in its efforts to raise the capital to progress the Van Deemen gold project through permitting and into production. Non-dilutive capital raising has been and continues to be the number one priority. To say it has been extremely difficult would be an understatement.
Despite the challenges, the Van Deemen is a ready to go project, drilling done, metallurgical testing done, some permitting work done, and a Technical Report (equivalent to the Canadian 43-101) is in progress, but need funds to pay the geo and engineer to complete. The report is important as it will allow us to state the mineralization of the deposit which is the base for the mine planning and project financials to move the project into production.
We have people, working on a success fee basis only, in Israel, UAE, Australia, Canada, Switzerland and the US marketing the placement to accredited investors. We are in fundraising discussions with a Canadian boutique investment bank focused on metals and mining. They are confident they can raise the capital needed to bring the project on-line, but require an upfront engagement fee. The project has been submitted by our Swiss contact to Cannacord, a Canadian investment bank for review, and there are 2 meetings scheduled this week with potential investors.
Year End & Q1 Financials:
The 2015 Annual Financials and 2016 Q1 Financials have been posted on the Company’s website. Management will continue to utilize the corporate web site for these postings until such time as they receive the OTC Markets Pink Current designation.
By submitting a question you agree to the terms and conditions of these participation guidelines:
International Star Inc. reserves the right to not respond to any question or comment it feels is inappropriate or spurious.
All questions and comments will be reviewed and best efforts will be made to post appropriate responses within a timely manner. We will not post any question or comment classified as spam or which contain offensive, hateful and/or defamatory language or profanity.
Users are free to submit questions in English as long as they comply with our participation guidelines; however responses will only be posted in English.
International Star Inc. is a publicly traded company, operating in a regulated industry. Therefore, questions or comments pertaining to any ongoing legal matters or regulatory issues specific to International Star Inc. will not be posted.
Questions, comments or opinions expressed from members of the public are those of their respective contributors only. International Star Inc. does not endorse or approve of their content.
Any comments or questions relating to specific issues beyond the scope of this blog should be directed to the channels available from the Contact section of the website.