Forrestania takes full control of Mt Palmer as it consolidates WA gold hubs

Forrestania Resources Limited ( (AU:FRS) ) has shared an update.

Forrestania Resources has signed binding agreements to acquire 100% of Aurumin Mt Palmer Pty Ltd, Aurumin Johnson Range Pty Ltd and Aurumin Mt Dimer Pty Ltd from Newcam Minerals, consolidating full ownership of the Mt Palmer gold project and expanding its Johnson Range and Mt Dimer tenement holdings. The all-share transactions, valued at a combined A$24.16 million, increase Forrestania’s control over key mining leases and exploration licences in the Southern Cross and Mt Dimer hubs, aligning consideration with future exploration success and preserving cash as the company positions Mt Palmer as a key ore source in its push toward gold production from the Lake Johnston facility, with existing shareholder Newcam remaining exposed to the region’s consolidation upside.

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 minerals exploration and development company focused on gold assets in Western Australia. Its portfolio includes the Southern Cross Hub, Mt Palmer project, Mt Dimer Hub and associated tenement packages, with an emerging strategy to advance these projects toward gold production, including through the planned use of the Lake Johnston processing facility.

Average Trading Volume: 2,175,811

Technical Sentiment Signal: Buy

Current Market Cap: A$421.2M

For a thorough assessment of FRS stock, go to TipRanks’ Stock Analysis page.