Retail and institutional investors alike are fighting for exposure to the firm’s three exceptional, historically-producing gold projects neighbouring Kirkland Lake’s world-leadingFosterville mine in Victoria, Australia. Fosterville has emerged as one of the highest-grade and lowest-cost gold operations globally in recent years, triggering a modern-day gold rush across Victoria in the process.
In this exclusive webcast with ValueTheMarkets.com, Fosterville South’s chief executive Bryan Slusarchuk explains how his firm will follow in Kirkland Lake’s footsteps.
In the presentation, Slusarchuk walks ValueTheMarkets’ Ben Turney through the recent fundraise, which had to be upgraded from US$10 million to US$15 million to meet huge investor demand.
Slusarchuk tells us the money will support a recently-launched drilling programme at one of the firm’s projects called Golden Mountain. Two drills have now been mobilized at the asset, which is based to the east of the Fosterville mine, where they drill 18 holes to investigate several outlying gold prospects.
The placing proceeds will also help to fund an expanded drilling programme at Lauriston, another of Fosterville South’s projects, that will begin shortly. Lauriston is immediately south of and adjoining the Fosterville mine and boasts many prospects showing signs of “Fosterville Style” high-grade, underground gold.
“We just couldn’t be more excited to get the drills turning here,” Slusarchuk tells viewers. “In many areas of these properties, we will be the first company to take a large systematic look at gold potential through the drill bit.”
The webcast also sees Slusarchuk detail how Fosterville South secured such a firm footing in a globally-leading gold land package and its plans for its third project Providence – currently in the permitting stage.
He rounds off by detailing the company’s recent decision to double down on its position in Victoria by purchasing three further gold projects in the area from London-listed ECR Minerals.
“We have a great balance sheet with no debt and a strong cash position and a portfolio of projects representing the premier land package in what is rapidly emerging as the world’s most important high-grade gold camp,” adds Slusarchuk. “We are in the right place at the right time, and we are well-funded to execute on the ground.”
Please click below to view the webcast in full: