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  • Writer's pictureSmallCapInvestor

Interview with Bryan Slusarchuk - Fosterville South Exploration (Part 1)

In an effort to help bridge the gap between retail investors and the private world of small cap investing, I have started a video series where I will be interviewing different insiders in the industry. First up on the list is the serially successful mining entrepreneur, Bryan Slusarchuk.

The interview was over an hour long, so I have broken it up to different segments. The first segment is on one of Bryan's current projects, Fosterville South Exploration.

Hope you guys enjoy and feel free to subscribe to the blog for future updates and insider interviews....


Fosterville South Exploration has multiple high-grade gold projects in the vicinity of the Fosterville Mine: Golden Mountain, Providence, Lauriston, and Walhalla. These projects cover more than ~1,400km2, giving FSX a dominant exploration foothold in the area. One of these projects, Lauriston, is actually contiguous with Kirkland Lake’s tenements and exhibits similar geological properties.

While the focus for FSX has recently been on Golden Mountain, it will soon shift towards Lauriston. The Lauriston project is immediately south and contiguous to Kirkland Lake’s Fosterville Goldfield Belt. Lauriston and seems to have the best potential to be the southern extension of Fosterville.

A few months back, Fosterville South announced it that will be spinning out two of its non-core properties: Avoca and Timor. The spinco will be named ‘Leviathan Gold’ and the effective date of the transaction is October 22nd. Essentially, all shareholders as of October 22nd, will receive one common share in ‘Leviathan Gold’ for every share they hold in FSX. The main driver behind FSX's current value is Lauriston, Golden Mountain, Walhalla, and Providence and the work that has been on these properties; Avoca and Timor are just a bonus. This is why it makes so much sense to spin them out. My guess is that the current market cap of FSX will remain largely unaffected by the spinout, while at the same, there will be significant value creation for any existing FSX shareholders, as they get share in Leviathan at no additional cost while still maintaining full exposure to the Avoca and Timor properties; similar to getting a dividend.


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