The price of gold may hit $1,800+ this week, gold stocks are in for one hell of an upside move, plus a big surprise!
Gold May Hit $1,800+ This Week
June 29 (King World News) – James Turk: Comex gold Aug20 closed last week at new high. After testing $1770s support on Friday it had a strong upside reversal ending near day’s high. Great news for gold bulls. Good possibility now for $1800+ in run-up to July 4th. Buy physical gold to avoid growing counterparty risk. (See below).
Gold May Be Ready To Surge Through $1,800 This Week
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab: Despite falling in May, personal savings rate at 23.2% remains extremely elevated … excluding parabolic spike to 32.2% in April, it’s highest on record (series goes back to 1959). (See below).
PEOPLE ARE SCARED: Personal Savings Rate
At Highest Level Going Back To 1959!
Nautilus Research: Gold stocks relative strength and US Unemployment (see below).
GOLD STOCKS WILL FOLLOW THE RED LINE:
Gold Stocks Are In For One Hell Of An Upside Move!
Also of importance…
High-Grade Gold Discovery
Bryan Slusarchuk, CEO: Fosterville South has attracted a lot of interest with two big announcements made by the company during the last 10 days. One of the announcements relates to drilling results at our Golden Mountain project. During this first round of drilling by Fosterville South at Golden Mountain, a series of shallow scout holes resulted in the discovery of a new North zone on the project, with initial near surface drill holes in this new zone intersecting multiple wide intervals of high-grade gold. Additionally, we reported that four of our drill holes (GMP01, GMP08, GMP12 & GMP13) actually ended in significant gold mineralization.
This news release is worth the read as it has created a lot of excitement amongst geologists. A very interesting part of this drill success, from my perspective, is that these were shallow holes in a program of near surface drilling that was designed to test for structure and to help guide the core drilling program now taking place on the main target area, which is deeper. To have multiple wide intercepts of high grade gold near surface from a scout program was a surprise to many people.
Here Comes Leviathan
While the drilling news shows investors we are executing well on the ground as to building shareholder value, the next news that has energized gold bulls is a corporate action through which Fosterville South plans to distribute the shares of a new company named Leviathan Gold to the shareholders of Fosterville South. Following the spin out, Leviathan will undertake an equity financing to fund the exploration, advancement and development of the Avoca and Timor projects. This creates immediate shareholder value for Fosterville South shareholders as each Fosterville South shareholder will receive one share of Leviathan for every share held of Fosterville South as of a yet to be determined effective date.
While Leviathan will operate as a separate public company, led by a very experienced leadership team, Fosterville South will retain our core projects being Lauriston Gold Project, Golden Mountain Project, Providence Project and Walhalla Belt Project.
Massive Land Package In A Gold Boom
Victoria, Australia (where all of our projects are assembled) is experiencing a boom, and with great reason. It is an incredible jurisdiction and has amazing geology with a history of high-grade gold production. While this modern day gold-rush is warranted, we feel fortunate to have had a multi-year head start, with Rex Motton (our COO) having started assembling the Fosterville South land package years before the huge influx of companies we see today. We now have a land assembly of more than 2,700 square kilometres, including 600 sq km adjacent and contiguous with Kirkland Lake Gold’s Fosterville tenemants, as a result of this early mover status in the region.
Creating value through the drill bit while concurrently creating value corporately due to our early-mover status in this gold region is a rare and quite special combination and we look forward to keeping you all up to date as we advance on all fronts. Fosterville South, symbol FSX in Canada and FSXLF in the US.
***To listen to the timely and powerful audio interview where Alasdair Macleod discusses this setup with gold being on the verge of a historic breakout that will trigger a massive short squeeze click here or on the image below.
Hard To Believe
***Also Released: As We Kickoff Trading, This Is Hard To Believe But It’s True CLICK HERE.
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