Forrestania Resources Limited ( (AU:FRS) ) has shared an update.
Forrestania Resources Limited has revised and exercised its option agreement with Outback Minerals Pty Ltd for the Bonnie Vale and Breakaway Dam projects. The revised terms include deferring a $1.1 million share consideration until May 2026 and making a $100,000 cash payment upon exercise. This extension allows Forrestania to continue exploration and drilling activities, particularly at the Ada Ann prospect within the Bonnie Vale project, which has shown high-grade gold results. The Breakaway Dam project also presents potential for copper and lithium exploration. This agreement provides Forrestania with more certainty and time to explore these key tenement packages, enhancing their exploration potential and positioning in the mining industry.
More about Forrestania Resources Limited
Forrestania Resources Limited is a company operating in the mining industry, focusing on exploration and development of mineral resources. The company is primarily engaged in the exploration of gold and other minerals, with a significant market focus on projects in the Eastern Goldfields region of Western Australia.
YTD Price Performance: 160.0%
Average Trading Volume: 2,252,589
Technical Sentiment Signal: Sell
Current Market Cap: A$6.82M
For a thorough assessment of FRS stock, go to TipRanks’ Stock Analysis page.