Star Minerals says that rare earths, manganese, lithium and batteries are the keys to its future

Engdahl-Jim-StarJune 24, 2014 — Tracy Weslosky, Editor-in-Chief and Publisher for InvestorIntel, speaks with Jim Engdahl, Director, President and CEO for Star Minerals (‘Star’, TSXV: SUV) about its critical metals exploration and acquisition activities in Saskatchewan and Alberta, Canada. From 2006 until 2012, Jim was the President and Chief Executive Officer of Great Western Minerals Group (GWMG), which has primarily engaged in developing rare earth minerals in South Africa while also producing earths based alloys and other related value added products. Tracy asks Jim if Star will be focusing ever more on the acquisition side of the business. Jim says that when he left GWMG he had agreed to take some non- core assets such as Hoidas Lake, a great property “that was sitting kind of dormant with not a lot of attention to it and …..We were very familiar with it and felt that it was a tremendous property.”

Jim searched for a junior with cash in order to take over the Hoidas property and found it in the form of Star Uranium, which was then converted to Star Minerals. Indeed, Jim has considerable experience in raising capital, having procured some USD$ 150 million for GWMG. Tracy, points out that Star recently announced having formed a joint venture with a private Montana gold operator to lease some claims and take over management of the Casey-Snyder placer gold operation near Drummond, Montana. Jim says that the lease will enable Star to secure long term cash flow that will allow it to pursue its core exploration assets, stressing, however, that Star “is not in the gold business”. Rather, Star wants to focus on its targeted projects at Hoidas Lake, manganese, graphite along with additional rare earth targets and “they are all related in some form to the recent announcement of Tesla’s recent announcement of the Giga Factory for batteries.”

Jim adds that vanadium is another mineral that Star wants to develop, given its role in battery production. As for specific metals that Star is targeting to address demand from the electric car industry, Jim stresses the industry demand for it and that Star will be pursuing these resources as a priority. Finally, Tracy prompts Jim to offer his thoughts on GWMG. Jim says that there’s every reason to expect that GWMG’s original assets will “come into fruition”, adding “I’m still holding out a lot of hope that they can get the financing for the next stage to get there and to be one of the first into production in the industry and I think there is still a good chance of that.”

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July 15, 2014 Correction Notice:  Jim Engdahl, President and CEO of Star Minerals Group Ltd. has requested that the following correction be posted with respect to his description of the timeline of entering into the Hoidas Lake Joint Venture.  Prior to Mr. Engdahl’s resignation from the board of Great Western Minerals Group Ltd. (“GWMG”) on November 21, 2012, GWMG was evaluating the framework for a possible arm’s length transaction with Star Uranium Corp. (as Star Minerals Group Ltd. was then named).   After Mr. Engdahl’s resignation, GWMG elected to defer all negotiations relating to any possible transaction until the transaction could be freshly considered at the discretion of, and on terms determined by, the yet to be appointed CEO of GWMG and GWMG’s restructured board.  On May 29, 2013 the parties concluded the initial negotiations of a completely new transaction structure and entered into a letter of intent in respect of the Hoidas Lake joint venture.

Disclaimer: Star Minerals is an advertorial member of InvestorIntel.


  1. Gee, I thought Engdahl left Great Western for health reasons. “Given my own health issues, it is advisable that I take a step back at this time.
    So, how does that square with :”Jim says that when he left GWMG he had agreed to take some non- core assets such as Hoidas Lake, a great property “that was sitting kind of dormant with not a lot of attention to it and …..We were very familiar with it and felt that it was a tremendous property.”

    So which is it? He was sick and he wants to step down? And they agreed to give him non-core assets on the way out the door?

    Don’t even get me started on his “fully funded” statements for Great Western….

    • > I hear you Jake, and I share your frustration and pain!
      - You see; “Once-upon-a-time”; I too believed; …
      believed so much in fact, that I poured a good chunk of my Hard-Earned-Sweat-Money into a Great story called GWMG; …a Great business model … some Prized timely assets …a Visionary leader …and a Credible plan to tie it all together into something called a, “Fully-Integrated-Mine-to-Metals” complete supply chain !
      - To this very day, I remain haunted by the phrases;
      – We will be first movers in the space !
      – We will be the acquirers; not the acquired !
      – We are now “fully funded to execute our plan” ; … or words to that effect!
      - Like you and a great many of our fellow retail investors Jake; it’s a lot harder “to Believe now” isn’t it ? …Despite our best efforts of shared pooling of so called knowledge; and doing our utmost at practicing “due-diligence;” we remain a terribly disadvantaged lot, in what can perhaps best be summed up as “shark-infested-waters.”
      - So, to any of those would-be newcomers; perhaps vying to “try- their-hand-at-the-game”; …some friendly advice; ……………………
      – Keep up your guard ! …don’t believe anyone offers the truth! …and don’t be lulled by “teddy-bear-personas” !
      - Thus ends “todays lesson”.

      • U4eah- For the record, I believe that Great Western now has the leadership in place to get SKK in to production. They have management and cost controls in place. Oversight where needed. We will see about the financing and what form it takes soon.
        I too will be troubled by the “fully funded” statement for some time to come.
        I am also now bothered by the fact that he said he resigned for health reasons and now says he agreed to take some non- core asserts when he left. Which was it? I think Great Western shareholders deserve to know.

    • Jim is getting up there in age and I would guess Star is closer to home, and any health issues would be easier to take care of when you are not traveling.

  2. That just doesn’t sit right. As a long term shareholder of GWMG I can’t believe anything he says. Truely amazing!

  3. STAR MINERALS ROCKS!!! TELL THESE NAKED SHORT BASHERS TO GO TO H E L L. BTW NEWL on the NASDAQ was halted and Caught many naked shorters lol watch it pop ;like Volksagon the world largest squeeze play in history WHEN ITS UNHALTED LOL its gone up while halted!! shorty is crying daily its all they do! ! imo

  4. So Jim, you are going to focus on rare earths, gold, manganese, graphite and vanadium? Are you going to laser focus on all of them together; or just one at a time? This investor thinks Hoidas Lake is where you ought to be putting your effort and resources. All those others just sound like you might just be waiting for the next bubble to ride. Oh, and this investor would also like to take a moment to thank you for setting the stage at Great Western for what is shaping up to be one of the best junior success stories in recent history.

  5. A request was made by Jim Engdahl to add the following Correction Notice, which was added to the above video article — CORRECTION NOTICE: Jim Engdahl, President and CEO of Star Minerals Group Ltd. has requested that the following correction be posted with respect to his description of the timeline of entering into the Hoidas Lake Joint Venture. Prior to Mr. Engdahl’s resignation from the board of Great Western Minerals Group Ltd. (“GWMG”) on November 21, 2012, GWMG was evaluating the framework for a possible arm’s length transaction with Star Uranium Corp. (as Star Minerals Group Ltd. was then named). After Mr. Engdahl’s resignation, GWMG elected to defer all negotiations relating to any possible transaction until the transaction could be freshly considered at the discretion of, and on terms determined by, the yet to be appointed CEO of GWMG and GWMG’s restructured board. On May 29, 2013 the parties concluded the initial negotiations of a completely new transaction structure and entered into a letter of intent in respect of the Hoidas Lake joint venture.

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