New York, NY (PRWEB) April 22, 2009
Mining MarketWatch Journal has published a review on WestStar Resources Corp. (TSX VENTURE: WER) (Frankfurt: HN3) (Pink Sheets: WSSRF). The review offers insight and opportunity afforded investors with WestStar's growing portfolio of highly prospective coal projects. WER.V now possesses two coal projects of significance, one project in the same coal trend as Goldsource in Saskatchewan Canada where WestStar recently hit coal in two holes at the same depth a kilometre apart - proving there is a coal field on this property, and one project in Nunavut Canada which is of such immense potential and importance it could potentially triple the nation's proven reserves of coal.
The full review and valuation commentary may be found at: http://miningmarketwatch.net/wer.htm online.
"WestStar is poised for significant upside share price revaluation as their coal holdings and prospects for resource growth have taken a leap forward on two fronts. WER.V appears exceptionally undervalued with less than ~35M shares outstanding and trading under CDN$0.15."
"WestStar Tobin Lake Coal Field: Newly defined this week as a 'coal field'. On a property that is 20km by 30km in size, WestStar hit coal in all holes, two of which are ~1km apart -- confirming WER.V has a coal field. When you compare WestStar to Goldsource, the relative valuations are disproportionate and investors in WER.V should hold their shares tight as WestStar has only drilled three holes without the aid of EM surveys, yet they have managed to hit coal on all three. Compare that with Goldsource, they speculated that the coal seam was continuous and hit something like 45 of 95 holes with the aid of EM air borne survey. WER.V is in the same situation as Goldsource is lithology wise with mannville formation of cretaceous age sitting on the undulating surface of basins -- with the aid of an EM air borne survey outlining where the next coal targets are WestStar could conceivably supersede Goldsource in success."
Special Situation Advisory
"WestStar Nunavut Coal: We have researched a phenomena unique to the property acquired by WER.V this month in Nunavut. The property has six kilometre long coal seams that can be seen from surface and we can confirm the existence of a historic report (non NI 43-101 compliant) from PetroCan that suggests a 20 billion tonne coal resource on the property. Additionally, we have confirmed recent discussions have taken place with interested parties (potential end users) about the future of taking the Nunavut project to a tide water coal operation, basically 'pit to ship', drastically reducing the cost of getting the coal to market."