It appears gold mining stocks may be ready for another surge higher.
Upside Breakout Coming?
June 30 (King World News) – Graddhy out of Sweden: That is one very interesting and good looking purple possible inverse head & shoulders neckline.
GDX (Gold Miner ETF) Ready To Breakout
Of Reverse Head & Shoulders Pattern
In case you missed it…
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.
Big Surprise
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.
Gold $1,800+, Gold Stocks To Soar, Plus A Big Surprise
***Also Released: Gold May Hit $1,800+ This Week, Gold Stocks Are In For One Hell Of An Upside Move, Plus A Big Surprise CLICK HERE.
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