Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) announced that the Canadian Securities Exchange has accepted the company's notice to commence a normal course issuer bid (NCIB), allowing it to repurchase up to 3,842,295 common shares over the next twelve months. The buyback program, representing 10% of the company's public float, is set to run from July 2, 2026, to July 2, 2027.
Under the NCIB, Western Star may purchase shares through the facilities of the CSE and alternative Canadian trading systems at prevailing market prices, in accordance with securities laws and CSE policies. All shares acquired will be cancelled. The company has appointed Haywood Securities Inc. as its purchasing dealer and trader to execute the buybacks.
Management and the board believe that the market price of Western Star's common shares may not adequately reflect their underlying value from time to time. According to the press release, the repurchase program represents an appropriate use of available financial resources and is in the best interests of the company and its shareholders. The timing and amount of purchases will be determined by management based on market conditions and applicable laws, with no obligation to acquire any specific number of shares.
Western Star Resources is 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. This strategic move positions Western Star 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 announcement comes as the company seeks to enhance shareholder value amid what it perceives as market undervaluation. For leaders in business and technology, this move signals management's confidence in the company's assets and future prospects, particularly in the critical minerals sector. Tungsten is essential for various high-tech and defense applications, and re-establishing domestic supply chains aligns with broader national security and industrial policy goals. The buyback could also provide a floor for the stock price, potentially attracting investors interested in the critical minerals space.
More details are available in the original press release on NewMediaWire.
