Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Forrestania Resources Limited ( (AU:FRS) ) has issued an update.
Forrestania Resources has appointed Polaris Engineering Services to refurbish the three-stage crushing circuit at its wholly owned Lake Johnston processing facility, in a contract valued at about $5 million. The refurbishment covers major equipment, piping, cabling and instrumentation, and is structured as a scrip-based payment plan using Forrestania shares.
The work is expected to be delivered within roughly 25 weeks and is described by Forrestania as a key step in its shift from gold developer to gold producer. By prioritising the crushing circuit and preserving cash through share-based payments, the company aims to optimise existing on-site infrastructure while advancing parallel workstreams in resource development, mine planning and operational readiness for its planned gold production hub.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.56 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 Australian gold-focused company listed on the ASX, transitioning from a gold developer to a gold producer. The company owns the Lake Johnston processing facility in Western Australia, which it is upgrading into a gold production hub by investing in key recovery infrastructure and leveraging existing site accommodation and facilities.
Average Trading Volume: 2,765,561
Technical Sentiment Signal: Buy
Current Market Cap: A$540.7M
Learn more about FRS stock on TipRanks’ Stock Analysis page.