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Forrestania Resources Limited ( (AU:FRS) ) has shared an announcement.
Beacon Minerals Limited has agreed to sell its non-core Mt Dimer mining and exploration tenements in Western Australia to Forrestania Resources Limited for A$50,000, under a binding Tenement Sale Agreement that includes associated mining information. In addition, Forrestania will pay A$150,000 for a pre-emptive right over a separate group of Mt Dimer-area tenements should Beacon later choose to sell them, while Beacon plans to continue drilling those retained tenements to grow resources and reserves ahead of a potential mining decision; proceeds from the transaction will be directed to working capital, reinforcing Beacon’s strategy of monetising non-core assets and reducing ongoing costs to focus on core gold operations.
More about Forrestania Resources Limited
Beacon Minerals Limited is an Australian gold-focused mining company listed on the ASX, holding a portfolio of mining and exploration tenements in Western Australia. The company’s strategy includes rationalising its asset base by divesting non-core tenements to reduce holding and compliance costs while supporting its broader gold retention policy and operational focus on core projects.
Average Trading Volume: 1,449,481
Technical Sentiment Signal: Buy
Current Market Cap: A$155.3M
See more data about FRS stock on TipRanks’ Stock Analysis page.