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The latest announcement is out from Forrestania Resources Limited ( (AU:FRS) ).
Forrestania Resources Limited has issued 1,285,558 new ordinary fully paid shares following the exercise of listed options priced at $0.15, and has lodged a cleansing notice confirming that the shares were issued without a prospectus in compliance with the Corporations Act’s continuous disclosure and reporting requirements. The company reiterated its strategy of pursuing additional tenure around its existing Western Australian projects through ongoing acquisition negotiations, while cautioning there is no certainty any of these potential deals will be completed, signalling both a drive for growth and the usual transactional risks for investors monitoring its expansion plans.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.54 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 (ASX: FRS) 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. With a refreshed and experienced board, the company is expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through disciplined exploration and selective acquisitions, targeting significant gold resources and additional exposure to gold and base metals near established mining operations.
Average Trading Volume: 1,949,766
Technical Sentiment Signal: Buy
Current Market Cap: A$425.2M
See more insights into FRS stock on TipRanks’ Stock Analysis page.