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An update from Forrestania Resources Limited ( (AU:FRS) ) is now available.
Forrestania Resources Limited has issued 107,383,518 new fully paid ordinary shares, primarily through the second tranche of a shareholder-approved placement, with a small portion arising from the exercise of listed options at $0.15 per option. The company reiterated its strategy of pursuing additional acquisitions to consolidate tenure around its existing projects in Western Australia but cautioned there is no certainty that ongoing negotiations will lead to completed transactions, while confirming it has complied with its continuous and financial reporting obligations under the Corporations Act.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 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 a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts. Led by an experienced board, the company is expanding its footprint in the Southern Cross, Eastern Goldfields and Forrestania regions through systematic exploration and selective acquisitions, targeting significant gold resources and additional exposure to gold and base metals near established mining operations.
Average Trading Volume: 1,550,745
Technical Sentiment Signal: Buy
Current Market Cap: A$269.1M
Learn more about FRS stock on TipRanks’ Stock Analysis page.