According the the announcement on 8/24, Bayswater had 60 days to execute a purchase agreement with Strathmore on Reno Creek, which is this Friday. Yesterday Bayswater announced a positive pre-feasibility on Reno Creek and distribution of the circular on the transaction:

"Copies of the agreements entered into with Strathmore and American are available on SEDAR at www.sedar.com. A formal purchase agreement between Strathmore, American and the Company is expected to be executed shortly and will be filed on SEDAR.

Financing of up to CDN$50 million is required to complete the acquisition of the Reno Creek Project and for related working capital in order to advance the Project pursuant to the production time-line. To raise the needed capital, Bayswater plans to undergo a restructuring, including a consolidation of the Company’s share capital, as disclosed in the information circular. Any consolidation of Bayswater’s share capital will be subject to regulatory and shareholder approval."

I believe that there is a good chance that this deal will get done which will put a new floor under the share price.