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Forrestania Resources Limited ( (AU:FRS) ) has shared an update.
Forrestania Resources has commenced a 3,000-metre reverse circulation drilling campaign at its British Hill gold project within the Forrestania Hub, located on granted Mining Lease M77/1256 and about 90km from the company’s Lake Johnston processing facility. The program, focused on grade-control drilling to support near-term open pit mining, forms part of a larger 90,000-metre RC and grade-control drill program awarded to Kalgoorlie-based VM Drilling, which has agreed to accept payment for the first six months in Forrestania shares, underscoring both parties’ confidence in advancing British Hill from a previously studied project into a near-production asset and moving Forrestania closer to producer status.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.54 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 advancing gold projects in Western Australia’s Southern Goldfields, with a strategy to transition from explorer to producer by leveraging its Lake Johnston processing infrastructure near its Forrestania Hub assets.
Average Trading Volume: 2,022,794
Technical Sentiment Signal: Buy
Current Market Cap: A$425.8M
Learn more about FRS stock on TipRanks’ Stock Analysis page.