Western Star Resources Inc. (CSE: WSR, OTC: WSRIF, FRA: 4K2) announced today that the Canadian Securities Exchange (CSE) has accepted the company's notice of intention to commence a normal course issuer bid (NCIB). Under the NCIB, Western Star may purchase for cancellation up to 3,842,295 common shares, representing 10% of the company's public float, over a twelve-month period beginning July 2, 2026 and ending July 2, 2027, or earlier if the company completes its purchases.
Purchases under the NCIB will be made through the facilities of the CSE and/or alternative Canadian trading systems at prevailing market prices, in accordance with applicable securities laws and CSE policies. All common shares purchased will be cancelled. The company has appointed Haywood Securities Inc. as its purchasing dealer and trader to carry out the NCIB.
The Board of Directors and management believe that, from time to time, the market price of the company's common shares may not adequately reflect their underlying value. Accordingly, the company views the repurchase of common shares under the NCIB as an appropriate use of available financial resources and in the best interests of the company and its shareholders. The timing and amount of any purchases will be determined by management, subject to applicable laws, market conditions, and CSE requirements. The company is not obligated to acquire any specific number of shares, and purchases may be suspended or discontinued at any time.
This announcement comes as Western Star Resources positions itself as an emerging junior mineral exploration company focused on revitalizing North America's tungsten supply. The company is advancing its entry into the U.S. market through the acquisition of a past-producing tungsten mine in Nevada, one of America's most important historic tungsten districts. With this strategic move, Western Star is aiming to play a leading role in re-establishing a secure, domestic source of this critical mineral. The company also owns nine non-surveyed contiguous mineral claims totaling 4,740 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometers southeast of Revelstoke and 10 kilometers north of the abandoned community of Camborne.
The NCIB signals management's confidence in the company's prospects and its commitment to enhancing shareholder value. By reducing the number of outstanding shares, the buyback could potentially increase earnings per share and support the stock price. For investors, this move may be seen as a positive indicator that the company views its shares as undervalued, particularly as it progresses its tungsten projects that could address supply chain concerns for this critical mineral used in defense, aerospace, and industrial applications.
