Forrestania Issues New Shares as It Advances Acquisition Strategy in WA Goldfields

Forrestania Resources Limited ( (AU:FRS) ) has issued an update.

Forrestania Resources Limited has issued 9,417,359 new ordinary fully paid shares, comprising shares from the exercise of listed options and the vesting of performance rights previously approved by shareholders. The company also reported that it is progressing the orderly completion of earlier announced acquisitions and is actively negotiating additional potential acquisitions of equity, licences and leases around its existing projects and across the wider Goldfields region, although there is no certainty that these negotiations will result in executed agreements or completed transactions; Forrestania confirmed its compliance with continuous disclosure and financial reporting obligations, indicating a transparent capital management and growth strategy that could underpin future expansion of its exploration portfolio and affect shareholder dilution and project pipeline depth.

The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 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 projects spanning the Southern Cross, Eastern Goldfields and Forrestania regions, the company is pursuing disciplined exploration and selective acquisitions to define significant gold resources and expand its exposure to gold and base metals within proven mineralised corridors, particularly near historic and existing mining operations.

Average Trading Volume: 1,492,642

Technical Sentiment Signal: Buy

Current Market Cap: A$225.8M

For an in-depth examination of FRS stock, go to TipRanks’ Overview page.