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Fosterville South Exploration Ltd V.FSX


Primary Symbol: FSXLF

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

Comment by Tadon Jul 22, 2021 3:36pm
92 Views
Post# 33591231

RE:RE:RE:Fsx

RE:RE:RE:Fsx
groundhog,

Last known cash balance was mentioned as "in excess of $25 million" in the May 20 press release.

Gawd only knows what the company has spent in the subsequent 2 months,  with drilling commencing at Moormbool, and restarting at Golden Mountain, plus some other targets
referred to in news relesses. I would hazzard a guess that by end of Q2,  FSX still had more
than "$21- $22 million cash.  Burn rate,  who knows ? .All depends on how many meters of diamond drilling has been completed and paid for, and if assay lab(s) have been paid .... (if results were already back), time frames for yearly concession fees, any acquisitions of additional properties etc .

Time will tell I suppose, but it seems like quite a few people have thrown in the towel with the share price back down to IPO levels.  Not overly concerned, but the length of time for assay results indicates serious problems with assay lab backlogs and/or onerous working conditions pushed onto companies by moronic government officials ...... or it is simply poor results that will be buried in a news release if/when the company can report some sort of decent headline numbers.

Not very encouraging at the present time.

groundhog wrote: Tad, 
Good and interesting comments on FSX.
Just wondering if anyone knows the present cash level in the Treasury and the company's burn rate.
Thanks.
GH 



GLTA !

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