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Forrestania Resources Limited ( (AU:FRS) ) just unveiled an update.
Forrestania Resources has completed the acquisition of the Karonie Gold Project in the Eastern Goldfields from Goldtribe Corporation, a subsidiary of Alchemy Resources, for $5 million paid in shares and a 1% net smelter royalty structure. The deal delivers a JORC-compliant inferred mineral resource of 6.5 million tonnes at 0.90 grams per tonne gold for 185,700 ounces across a suite of granted tenements, expanding Forrestania’s regional footprint and aligning with its strategy to assemble a pipeline of gold assets close to processing facilities while preserving capital.
The most recent analyst rating on (AU:FRS) stock is a Buy with a A$1.25 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 and development company focused on gold assets in Western Australia’s Eastern Goldfields. Listed on the ASX under the ticker FRS, the company is building a portfolio of gold projects located near existing processing infrastructure to support efficient development and potential production growth.
Average Trading Volume: 4,094,874
Technical Sentiment Signal: Buy
Current Market Cap: A$640.8M
See more insights into FRS stock on TipRanks’ Stock Analysis page.