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Forrestania Resources Limited ( (AU:FRS) ) has issued an update.
Forrestania Resources has moved to strengthen its position in Western Australia’s Forrestania Gold Hub by signing a binding agreement to acquire 100% of Mantis Resources Pty Ltd for $235,000 in shares, securing three additional tenements (two granted exploration licences and one application) around the Lake Johnston operations. Alongside this, Forrestania has applied for two further exploration licence applications in the same area, extending a largely contiguous package of ground in a structurally and geologically attractive belt, which is expected to enhance its exploration pipeline and consolidate its strategic foothold near the Lake Johnston processing facility.
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 is an Australian exploration company focused on developing its Forrestania Gold Hub in Western Australia’s Southern Cross–Forrestania Greenstone Belt, a geologically prospective region within the Yilgarn Craton. The company targets gold and associated mineral opportunities around the Lake Johnston operations, where it is progressively consolidating and expanding its tenement footprint to support ongoing exploration activities.
Average Trading Volume: 1,512,926
Technical Sentiment Signal: Buy
Current Market Cap: A$232.4M
Find detailed analytics on FRS stock on TipRanks’ Stock Analysis page.