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An update from Forrestania Resources Limited ( (AU:FRS) ) is now available.
Forrestania Resources has declared its off‑market takeover offer for Kula Gold unconditional and now holds a 76.07% interest in Kula’s issued share capital, paving the way to reconstitute Kula’s board so that it operates as a Forrestania subsidiary with a majority of Forrestania-appointed directors while retaining at least two existing Kula directors. The offer period has been extended to 22 January 2026 to give remaining Kula shareholders additional time to accept, with the boards of both companies unanimously recommending acceptance as Forrestania seeks to consolidate Kula’s assets into its broader gold strategy and advance towards first gold production in 2026 following the proposed Lake Johnston processing plant acquisition, leaving non-accepting shareholders exposed to the risks of remaining as minorities in a controlled entity.
More about Forrestania Resources Limited
Forrestania Resources Limited is an ASX-listed resources company focused on advancing a gold strategy in the Forrestania region of Western Australia. The company is working toward becoming a gold producer, supported by a proposed acquisition of the Lake Johnston processing facility to underpin future gold production targeted for calendar year 2026.
Average Trading Volume: 1,488,980
Technical Sentiment Signal: Buy
Current Market Cap: A$155.3M
For detailed information about FRS stock, go to TipRanks’ Stock Analysis page.