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An announcement from Forrestania Resources Limited ( (AU:FRS) ) is now available.
Forrestania Resources has executed a binding asset swap with Catalina Resources under which it will acquire the Laverton Project, comprising three exploration licences adjacent to its existing Eastern Goldfields Hub, in exchange for divesting its Breakaway Dam copper-focused exploration licence. In addition to consolidating its gold-focused footprint around Laverton, Forrestania will receive Catalina shares and options representing an initial stake of about 10%, allowing it to offload a non-core asset while retaining exposure to copper and gold upside through Catalina’s exploration programs on Breakaway Dam and other greenstone belts, thereby strengthening its strategic position in the Eastern Goldfields and broadening its indirect commodity exposure.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
More about Forrestania Resources Limited
Forrestania Resources Limited is an Australia-based mineral exploration company focused on gold, copper and lithium projects, with a particular emphasis on Western Australia’s Eastern Goldfields region. The company is building a portfolio of exploration hubs, including its Eastern Goldfields Hub north of Kalgoorlie, targeting structurally and geologically prospective greenstone belts near established mining districts such as Leonora, Menzies and Laverton.
Average Trading Volume: 1,512,926
Technical Sentiment Signal: Buy
Current Market Cap: A$232.4M
See more insights into FRS stock on TipRanks’ Stock Analysis page.