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Forrestania Resources Limited ( (AU:FRS) ) has shared an announcement.
Forrestania Resources Limited has announced a significant acquisition of the Lake Johnston Project from Poseidon Nickel Pty Ltd, a subsidiary of Horizon Minerals Limited. This acquisition includes a processing plant and infrastructure, which positions the company to transition from an explorer to a near-term gold producer. The acquisition is expected to reduce capital intensity and development risk, providing a clear pathway to production. Additionally, Forrestania has secured $34 million in capital raising to fund the acquisition, with two new cornerstone investors emerging as substantial shareholders. This strategic move aligns with Forrestania’s goal to accelerate its pathway to cash flow by utilizing the existing infrastructure to process ore from its consolidated gold projects.
More about Forrestania Resources Limited
Forrestania Resources Limited operates in the mining industry, focusing on the exploration and development of gold resources. The company has consolidated a significant gold resource base across key regions in Western Australia, including Southern Cross, Westonia, Bonnie Vale, and Eastern Goldfields.
Average Trading Volume: 1,360,142
Technical Sentiment Signal: Buy
Current Market Cap: A$93.8M
For a thorough assessment of FRS stock, go to TipRanks’ Stock Analysis page.