RE:Bryan doesn't understandBSdetector
I'm quite sure Bryan Slusarchuk understands.
He continues to buy shares of Fosterville on the open market. He has purcahsed 10,000 shares since October 1 at prices ranging from $3.06 on Oct 2 down to $2.34 yesterday October 26.
https://www.canadianinsider.com/node/7?menu_tickersearch=FSX+%7C+Fosterville+South+Expl. Fosterville South short position as of Oct 15, 2020 posted below..
Looks like the bulk of the short position was covered in the first half of October.
In the two weeks leading up to Sept 15 ...... the date when the shares became free trading from the closing of the private placement on May 14 2020 ..... an additional 453,312 shares were shorted.
Coincidentally, that is almost exaclty half of the 907,937 share purchase warrants the syndicate of agents received from the private placement.
https://fostervillesouth.com/fosterville-south-closes-15-million-financing/ "Clarus Securities Inc acted as Lead Agent on behalf of a syndicate of agents that included Canaccord Genuity Corp., Cormark Securities Inc., Eight Capital, Mackie Research Capital Corporation, Haywood Securities Inc. and Eventus Capital Corp. Fosterville South paid the syndicate of agents a cash commission of $998,729 and issued a total of 907,937 common share purchase warrants (the “Broker Warrants”), with each Broker Warrant exercisable at $1.10 per Common Share for a period of 24 months ending May 14, 2022." | Symbol | Report Date | Volume | Change | Shares Issued | % Float |
| V : FSX | 2020-10-15 | 88,578 | 2,860 | 63,600,037 | 0.14 |
| V : FSX | 2020-09-30 | 85,718 | -969,031 | 62,525,742 | 0.14 |
| V : FSX | 2020-09-15 | 1,054,749 | 453,312 | 62,525,742 | 1.69 |
| V : FSX | 2020-08-31 | 601,437 | 54,624 | 47,087,751 | 1.28 |
| V : FSX | 2020-08-15 | 546,813 | -112,324 | 46,687,751 | 1.17 |
| V : FSX | 2020-07-31 | 659,137 | 15,481 | 46,687,751 | 1.41 |
| V : FSX | 2020-07-15 | 643,656 | -88,626 | 46,177,751 | 1.39 |
| V : FSX | 2020-06-30 | 732,282 | 245,946 | 46,177,751 | 1.59 |
| V : FSX | 2020-06-15 | 486,336 | -215,761 | 45,702,751 | 1.06 |
| V : FSX | 2020-05-31 | 702,097 | 77,070 | 45,702,751 | 1.54 |
| V : FSX | 2020-05-15 | 625,027 | 321,434 | 45,702,751 | 1.37 |
| V : FSX | 2020-04-30 | 303,593 | 263,593 | 44,982,751 | 0.67 |
| V : FSX | 2020-04-15 | 40,000 | 40,000 | 44,982,751 | 0.09 |
Decent support level in this range ..... IF IT HOLDS ...... The paper needed to be dealt with ..... distribution phase .... as some people have posted previously, the extension of the meeting date and date of record does give the private placement participants additional time to get all their warrants exercised and shares into their hands for the proposed spin-off company.
https://fostervillesouth.com/eligibility-and-updates-on-recently-announced-spin-out-transaction/ "In addition to the common shares currently issued by Fosterville South, there are a total of 6,818,180 warrants exercisable at $2.00 and 907,935 broker warrants exercisable at $1.10. These warrants and any common shares issued as a result of the exercising of these warrants are restricted until September 15, 2020 as per the terms of the Company’s recently completed $15 million financing (see Fosterville South News Release dated May 14, 2020). If warrant holders exercise warrants and receive Fosterville South shares as a result of exercise prior to the Effective Date of the spinout transaction, they will receive corresponding shares in Leviathan Gold Ltd." The secondary offering was closed on July 21 at $4.00. Those participants knew the story, and paid up .... and will not be able to get the attached warrants exercised prior to the estimated date of record for the spin-off .... unless there is a further delay in the meeting date and court approval.
A second drill rig was only added at the begining of July, usually takes about 3 months for drilling to start and having assay results returned from the lab..... last assay results were a month ago, more should be released in the next couple of weeks, I would thnk.
Would have to assume there will be additional drill rigs added in the near term term ..... going to be lots of news going forward .....
Fosterville South mg't have been busy going through the process of obtaining required permits for drilling on Lauriston, additional drill pad permits for Golden Mountain and securing additional land positions.
It's only been 6 months since inception of the company ......
GLTA !