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Forrestania Resources Limited ( (AU:FRS) ) has shared an announcement.
Forrestania Resources has executed a formal sale agreement with Poseidon Nickel, a subsidiary of Horizon Minerals, to acquire the Lake Johnston Project, including tenements, processing plant, buildings and associated infrastructure. The deal terms have been amended so that Forrestania has already paid $8 million in cash, with a remaining $20 million in cash and $5 million in Forrestania shares to be paid at completion following a shareholder meeting slated for 12 January 2026. In parallel, Forrestania has begun early contractor involvement to convert the Lake Johnston processing facility from nickel to gold, engaging specialist firms for environmental approvals, non-process infrastructure, process plant engineering, mining studies, and financial modelling, positioning the company to move rapidly toward assessing and potentially initiating future gold production from its existing resources.
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 mineral exploration company focused on advancing gold and other mineral assets, including JORC-compliant resources in Western Australia. The company is transitioning from pure explorer to potential near-term producer by securing processing infrastructure and strengthening its project development capabilities.
Average Trading Volume: 1,424,141
Technical Sentiment Signal: Buy
Current Market Cap: A$179.2M
See more insights into FRS stock on TipRanks’ Stock Analysis page.