Stockhouse.com uses cookies on this site. By continuing to use our service, you agree to our use of cookies. Cookies are used to offer you a better browsing experience and to analyze our traffic. We also use them to share usage information with our partners. See full details.
I Agree
×
Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Privacy Policy | Disclaimer

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Privacy Policy | Disclaimer
Please Try Again {{ error }}

Send my password

Return to Login
SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Fosterville South Exploration Ltd V.FSX


Primary Symbol: FSXLF

Metals & Mining Gold
Fosterville South Exploration Ltd. is a Canada-based company, which is engaged in the acquisition, exploration, and development of mineral properties in Australia. The Company’s properties include Lauriston Gold Project, Golden Mountain Project, Moormbool Project, Providence Project, Walhalla Gold Belt Project, and Beechworth Project. The Lauriston Gold Project is located in the central part of the State of Victoria, Australia. The Golden Mountain Project is located in the central part of the State of Victoria, Australia, situated approximately 150 kilometers (km) northeast of Melbourne. The Moormbool Project area consists of three granted licenses such as EL006280, EL006913, and EL007193. The Providence Project consists of one license, EL007052 that covers the Reedy Creek goldfield and the Big Ben prospect area. The Walhalla Gold Belt Project has one granted tenement and seven tenement applications. The Beechworth Project is located in Victoria, Australia.


OTCQX:FSXLF - Post by User

Fosterville South Exploration Ltd > Careful guys, gold broke below it's resistance level
<< Previous
 Bullboard Posts
Next >>
User Avatar Image
(11)
•••
Comment by Kn0wNothingon Aug 25, 2020 2:14pm
235 Views
Post# 31451347

RE:RE:RE:Careful guys, gold broke below it's resistance level

RE:RE:RE:Careful guys, gold broke below it's resistance levelAs I've said before, IMHO, the primary driver for the SP will ultimately not be the price of gold, it will be the quantiy of the reserves.
I know the market in general has 'come off' somewhat today, but I can't help thinking the increased drop in FSX over and above the market today is linked to consideration of the spin-off. The realisation that all warrant holders from the first placing are 'in the money' and will excercise their warrants, so shareholdres will be diluted by an additional 7.76m shares. But the warrant holders from the second placement are 'out if the money' and highly unlikely to excercise their options. At the current SP of C$3.45 and an exercise price of C$4.95 they would need to believe the spin-off will result in a 43% premium to convert. Unlikely IMO. If the market believed that, we would not have seen the magnitude of fall we've seen today.
Notwithstanding, happy to top up today at CS3.42.
LOL to all
<< Previous
 Bullboard Posts
Next >>
Dealroom for high-potential pre-IPO opportunities