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Forrestania Resources Limited ( (AU:FRS) ) has shared an announcement.
Horizon Minerals Limited, through its subsidiary Poseidon Nickel Pty Limited, has entered into a binding agreement with Forrestania Resources Limited to divest its Lake Johnston Project for $35 million. This strategic move allows Horizon to focus on its core assets, particularly the Black Swan processing facility, by strengthening its balance sheet and providing funds for further development and potential mergers and acquisitions. The transaction is expected to be completed by January 2026, contingent on regulatory approvals and a successful capital raising by Forrestania.
More about Forrestania Resources Limited
Average Trading Volume: 1,344,856
Technical Sentiment Signal: Buy
Current Market Cap: A$93.8M
Find detailed analytics on FRS stock on TipRanks’ Stock Analysis page.