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The latest update is out from Forrestania Resources Limited ( (AU:FRS) ).
Askari Metals Limited, a company focused on exploration and development of gold, copper, and rare metal projects in Ethiopia and Namibia, has announced the sale of its Australian asset portfolio to Forrestania Resources Limited. This strategic move allows Askari to concentrate on its African projects, particularly the Nejo Gold and Copper Project in Ethiopia, without the need for a dilutive capital raising. The sale, valued at A$700,000, provides Askari with immediate funds to advance its exploration activities, aligning with the current high gold prices and enhancing its positioning in the mineral-rich Arabian-Nubian Shield region.
More about Forrestania Resources Limited
Average Trading Volume: 1,187,109
Technical Sentiment Signal: Buy
Current Market Cap: A$76.55M
See more data about FRS stock on TipRanks’ Stock Analysis page.