Forrestania to Proceed With Compulsory Acquisition of Kula Gold Despite Dilution of Stake

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

Forrestania Resources Limited, a Western Australia-focused gold exploration and development company, is building a portfolio of high-quality gold projects across the Southern Cross, Eastern Goldfields and Forrestania regions, positioned near major mining operations and historic producing mines to support long-term development opportunities and shareholder value creation. The company has disclosed a change in substantial holding in takeover target Kula Gold Limited following the exercise of options by Kula shareholders, which has diluted Forrestania’s stake to 88.08%, but confirmed that, under Australian corporations law, it will still proceed with the compulsory acquisition of all outstanding Kula Gold shares, including the newly issued stock, as its takeover offer reaches its scheduled close, reinforcing its strategic expansion in the gold sector.

The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.47 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 a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts. With assets in the Southern Cross, Eastern Goldfields and Forrestania regions near established mines and proven mineralised corridors, the company aims to define significant gold resources and expand its gold asset base through disciplined exploration, selective acquisitions and strong technical execution to create long-term shareholder value.

Average Trading Volume: 1,782,016

Technical Sentiment Signal: Buy

Current Market Cap: A$359.5M

For detailed information about FRS stock, go to TipRanks’ Stock Analysis page.