An update from Forrestania Resources Limited ( (AU:FRS) ) is now available.
Forrestania Resources Limited has issued 37,545,411 ordinary fully paid shares as part of its February and March placements, with shares priced at $0.01 and $0.025 respectively. This move is part of the company’s ongoing efforts to raise capital for its exploration activities in Western Australia. The issuance of these shares without disclosure under the Corporations Act indicates compliance with regulatory requirements, and the company has applied for quotation of these securities on the ASX. This development is expected to bolster Forrestania’s financial position, supporting its exploration endeavors and potentially enhancing its market presence in the resource sector.
More about Forrestania Resources Limited
Forrestania Resources Limited is an Australian resources company focused on exploring gold, copper, and lithium in the Forrestania, Southern Cross, and Eastern Goldfields regions of Western Australia. The company’s projects are strategically located near significant mining operations, including the historic Bounty gold mine, the Covalent Mt Holland Lithium Mine, and the Flying Fox and Spotted Quoll nickel mines. Their exploration licenses cover approximately 1,000 square kilometers, primarily within greenstone belts known for their mineral potential.
YTD Price Performance: 330.0%
Average Trading Volume: 2,318,746
Technical Sentiment Signal: Sell
Current Market Cap: A$11.81M
Learn more about FRS stock on TipRanks’ Stock Analysis page.