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Kula Gold Limited ( (AU:KGD) ) has shared an announcement.
Forrestania Resources has lifted its off‑market takeover of Kula Gold to 88.33%, prompting Kula’s board to urge remaining shareholders, including recent on‑market buyers, to accept the offer before it closes on 22 January 2026. The directors, who have all accepted the bid, warn that if Forrestania moves above 88% but below 90%, Kula will remain listed but its shares are likely to be thinly traded and the company will still require substantial new funding for exploration, potentially leading to significant dilution for non‑participating shareholders, increasing pressure on holdouts to tender into the offer.
More about Kula Gold Limited
Kula Gold Limited is an Australian exploration company listed on the ASX, focused on mineral exploration projects and reliant on ongoing capital to fund its exploration programs.
Average Trading Volume: 5,115,453
Technical Sentiment Signal: Sell
Current Market Cap: A$78.31M
See more insights into KGD stock on TipRanks’ Stock Analysis page.