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Forrestania Resources Limited
(Sydney:FRS)
Forrestania Resources Limited (FRS) vs. iShares MSCI Australia ETF (EWA)
Forrestania Resources Limited Business Overview & Revenue Model
Forrestania Resources Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.04K | -3.74K | -30.92K | -70.89K | -36.63K | 0.00 |
| EBITDA | -880.05K | -881.06K | -5.90M | -1.58M | -2.08M | -203.81K |
| Net Income | -710.71K | -1.42M | -5.93M | -1.65M | -2.12M | -205.58K |
Balance Sheet | ||||||
| Total Assets | 7.48M | 7.48M | 6.29M | 10.16M | 6.99M | 217.42K |
| Cash, Cash Equivalents and Short-Term Investments | 920.39K | 920.39K | 459.04K | 2.12M | 1.59M | 22.31K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 197.64K |
| Total Liabilities | 461.12K | 461.12K | 178.38K | 805.45K | 196.09K | 365.50K |
| Stockholders Equity | 7.02M | 7.02M | 6.11M | 9.35M | 6.80M | -148.08K |
Cash Flow | ||||||
| Free Cash Flow | -781.36K | -1.82M | -1.16M | -3.87M | -3.46M | -89.19K |
| Operating Cash Flow | -583.99K | -583.99K | -1.15M | -1.30M | -1.07M | -61.69K |
| Investing Cash Flow | -1.24M | -1.24M | -1.95M | -2.56M | -2.39M | -27.50K |
| Financing Cash Flow | 2.28M | 2.28M | 1.45M | 4.40M | 5.02M | 111.50K |
Forrestania Resources Limited Technical Analysis
Forrestania Resources Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$36.60M | -12.12 | -8.32% | ― | -100.00% | -146.48% | |
52 Neutral | AU$67.23M | -21.97 | -16.78% | ― | ― | -18.92% | |
51 Neutral | AU$35.23M | -15.29 | -16.69% | ― | ― | -11.01% | |
51 Neutral | AU$75.45M | -6.89 | -17.78% | ― | ― | ― | |
48 Neutral | AU$41.87M | -21.05 | -12.26% | ― | ― | 26.92% | |
47 Neutral | AU$421.24M | -71.43 | -21.63% | ― | ― | 86.21% |
Forrestania Resources Limited Corporate Events
Forrestania Resources Limited has applied to the ASX for quotation of 156,965,455 new fully paid ordinary shares under the code FRS. The new securities, issued on 22 January 2026, represent a substantial expansion of the company’s quoted capital base and signal an important capital markets move that may support future corporate or project activities, with implications for existing shareholders through increased share supply and potential shifts in ownership structure.
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.
Forrestania Resources Limited has notified the ASX of the issuance of 15 million unquoted options, split into three equal tranches with exercise prices of $0.40, $0.60 and $0.90, all expiring on 19 January 2029. The options, which are not intended to be quoted on the ASX, form part of a previously announced transaction and represent a structured incentive or funding mechanism that could, if exercised, provide additional capital and potentially dilute existing shareholders over the longer term.
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.
Forrestania Resources Limited has completed the first tranche of ordinary share issuances to Kula Gold Limited shareholders who accepted its off-market takeover offer on or before 15 January 2026, marking a key step in advancing its acquisition strategy. Remaining consideration shares for Kula shareholders who accepted after that date will be issued by 12 February 2026 in line with statutory timeframes, with further updates to follow on the completion of the takeover and compulsory acquisition process, which is expected to strengthen Forrestania’s growth trajectory and project pipeline in Western Australia’s 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.
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.
Forrestania Resources Limited has applied to the ASX for quotation of 28,571,430 new fully paid ordinary shares, to trade under its existing code FRS. The securities, issued on 19 January 2026 under a previously announced transaction, will increase the company’s free float and potentially broaden its shareholder base, marking a notable capital markets step that may support future funding and operational flexibility.
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.
Forrestania Resources has secured a relevant interest in more than 90% of Kula Gold’s fully paid ordinary shares and at least 75% of the shares it targeted under its off-market takeover bid, positioning it to move to full control. The company has begun the compulsory acquisition process under the Corporations Act to acquire the remaining Kula shares on the same terms as its takeover offer, with completion expected in February 2026, after which Kula shareholders who did not accept the offer will be able to claim their consideration, effectively finalising the takeover and consolidating Forrestania’s ownership of Kula.
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.
Forrestania Resources Limited has disclosed a change in director Brett James Hodgins’ interests, with the director now holding indirect interests in a total of 15 million unlisted options via Jaybre Holdings Pty Ltd. The options, which were issued for no cash consideration following shareholder approval at a general meeting on 12 January 2026, are split into three tranches of 5 million each with exercise prices of $0.40, $0.60 and $0.90, all expiring on 19 January 2029, highlighting an incentive structure closely tied to the company’s future share price performance and aligning the director’s interests with long-term shareholder value.
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.
Forrestania Resources Limited has lodged a notice of proposed securities issue with the ASX, outlining plans to issue up to 15 million new options under three new classes (FRSOPT19, FRSOPT20 and FRSOPT21) via a placement or similar mechanism, with the proposed issue date of 16 January 2026. The capital-raising initiative, through these additional options, is designed to bolster the company’s funding flexibility for its exploration and development activities, potentially leading to future equity inflows if the options are exercised and signalling continued efforts to support its project pipeline and maintain its position in the competitive junior resources market.
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.
Forrestania Resources Limited has lodged an Appendix 3B with the ASX outlining a proposed issue of ordinary fully paid shares. The company, listed under ticker FRS, has not provided additional operational or industry details in this filing.
The company plans to issue up to 5,956,636 new ordinary fully paid shares via a placement or similar capital-raising mechanism, with a proposed issue date of 31 March 2026. The move signals an intention to raise additional equity capital, which may affect the company’s capital structure and share dilution for existing investors once terms are finalised and the securities are quoted on the ASX.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has issued 107,383,518 new fully paid ordinary shares, primarily through the second tranche of a shareholder-approved placement, with a small portion arising from the exercise of listed options at $0.15 per option. The company reiterated its strategy of pursuing additional acquisitions to consolidate tenure around its existing projects in Western Australia but cautioned there is no certainty that ongoing negotiations will lead to completed transactions, while confirming it has complied with its continuous and financial reporting obligations under the Corporations Act.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has applied to the ASX for quotation of 159,574 new fully paid ordinary shares under its ticker FRS, with the securities issued on 16 January 2026 following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted capital reflects ongoing utilisation of equity-linked instruments by the company and will marginally dilute existing shareholders while providing additional listed stock to the market.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has applied to the ASX for quotation of 107,223,944 new fully paid ordinary shares under the code FRS, with the securities issued on 16 January 2026. The large share issuance, lodged as a new announcement, indicates a significant change to the company’s capital structure that could influence liquidity and ownership dynamics once the securities commence trading.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has signed a Binding Heads of Agreement to acquire the rights, title and interest in the Gibraltar tenement package in Western Australia’s Coolgardie region from Christopher Alan De Courcy Ryder and Lloyd George Holdings for $2.5 million in Forrestania shares, valued using a five-day VWAP. The deal includes mining leases M15/60 and M15/193, which host approved and operating vat leaching infrastructure, and prospecting licence P15/6203, situated within and adjacent to Forrestania’s existing Coolgardie Hub; additional contingent payments of $40,000 per 1,000 ounces of JORC-compliant gold resources (up to 150,000 ounces) will be made half in cash and half in shares, and Gibraltar will receive a 1% gross revenue royalty on gold production after 150,000 ounces have been mined. Management positions the acquisition as a strategic consolidation of historically mined, stockpile-rich tenure that aligns consideration with exploration success while preserving capital, strengthening Forrestania’s regional growth strategy and potential pathway to production in a key Western Australian gold district.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.46 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Catalina Resources has agreed to acquire 100% of the Breakaway Dam Copper Project from Forrestania Resources, gaining a drill‑ready, copper‑dominant VMS system with confirmed sulphide mineralisation and recent diamond drilling that intersected broad and higher‑grade copper and Cu–Zn zones, creating a strong pipeline of follow‑up exploration targets. As part of a broader portfolio optimisation, Catalina will divest its Laverton gold assets to Forrestania, fund the deal entirely in equity and options to preserve cash, secure a $0.5 million strategic placement from Newcam Minerals to support near‑term exploration, and add a second district‑scale gold growth platform via the acquisition of Auric North, moves that collectively sharpen its strategic focus, enhance exposure to a structurally constrained copper market, and align counterparties’ interests with long‑term shareholder value creation.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has executed a binding asset swap with Catalina Resources under which it will acquire the Laverton Project, comprising three exploration licences adjacent to its existing Eastern Goldfields Hub, in exchange for divesting its Breakaway Dam copper-focused exploration licence. In addition to consolidating its gold-focused footprint around Laverton, Forrestania will receive Catalina shares and options representing an initial stake of about 10%, allowing it to offload a non-core asset while retaining exposure to copper and gold upside through Catalina’s exploration programs on Breakaway Dam and other greenstone belts, thereby strengthening its strategic position in the Eastern Goldfields and broadening its indirect commodity exposure.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited reported that all resolutions put to shareholders at its 12 January 2026 general meeting were passed by poll, providing strong shareholder endorsement for the company’s current capital-raising and transaction program. Investors approved the ratification and further issue of placement shares in two tranches, the issue of attaching and corporate adviser options, the issue of shares to Goldzone Investments, the ratification of an agreement to issue shares to Horizon Minerals Limited, and the re-approval to issue securities to acquire the Hyden project, collectively strengthening Forrestania’s funding base and supporting its ongoing project and acquisition strategy.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has moved to strengthen its position in Western Australia’s Forrestania Gold Hub by signing a binding agreement to acquire 100% of Mantis Resources Pty Ltd for $235,000 in shares, securing three additional tenements (two granted exploration licences and one application) around the Lake Johnston operations. Alongside this, Forrestania has applied for two further exploration licence applications in the same area, extending a largely contiguous package of ground in a structurally and geologically attractive belt, which is expected to enhance its exploration pipeline and consolidate its strategic foothold near the Lake Johnston processing facility.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has commenced a 1,300-metre diamond drilling program at its Lady Lila gold project within the Forrestania Hub in Western Australia, the first drilling since the granting of mining lease M77/1325. The campaign is designed to test the extent of the Lady Lila mineralisation along strike and at depth, building on an upgraded mineral resource estimate of 1.2 million tonnes at 1.03 grams per tonne gold for 40,513 ounces, while also generating core for metallurgical and geotechnical studies that will support statutory submissions for project development targeted for late 2026, marking a key step in Forrestania’s broader plan to progress its portfolio toward multi-asset gold production.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has reported a change in the equity interests of Director Adam Turnbull, reflecting the vesting of previously granted performance-based securities into ordinary shares. The company disclosed that 1,975,000 performance rights from Tranche 2 and Tranche 7, which had shareholder-approved vesting conditions, have converted into an equal number of fully paid ordinary shares at no cash consideration, increasing Turnbull’s direct shareholding to 32,781,763 shares while reducing his performance rights to 10,900,000. This internal equity adjustment signals the achievement of key milestones tied to executive incentives and modestly strengthens director alignment with shareholders through a higher direct ownership stake.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has disclosed a change in the indirect equity interests of director Daniel Raihani via his associated entity, 7 Enterprises Pty Ltd. Raihani’s indirect holding has increased to 33,450,000 ordinary fully paid shares and 10,900,000 performance rights following the vesting of certain performance rights tranches previously approved by shareholders. The transaction involved the conversion of 1,975,000 performance rights into an equivalent number of ordinary shares at nil consideration, reflecting the satisfaction of vesting conditions and signalling continued alignment of the director’s remuneration and incentives with shareholder value.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has disclosed changes in director David Geraghty’s interests in the company’s securities, reflecting the vesting of certain performance rights and the exercise and purchase of listed options. Following the satisfaction of vesting conditions for two tranches of performance rights previously approved by shareholders, Geraghty’s indirect holding via Mandarin Rock Pty Ltd increased by 2,375,000 fully paid ordinary shares while an equivalent number of performance rights were converted, and his spouse-controlled entity Roologic Pty Ltd both purchased and exercised options, resulting in a higher total shareholding and a reduction in outstanding options. The adjustments underscore ongoing equity-based remuneration and capital management practices that incrementally increase director alignment with the company’s long-term performance and expand the free float of ordinary shares held by insiders.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has issued 9,417,359 new ordinary fully paid shares, comprising shares from the exercise of listed options and the vesting of performance rights previously approved by shareholders. The company also reported that it is progressing the orderly completion of earlier announced acquisitions and is actively negotiating additional potential acquisitions of equity, licences and leases around its existing projects and across the wider Goldfields region, although there is no certainty that these negotiations will result in executed agreements or completed transactions; Forrestania confirmed its compliance with continuous disclosure and financial reporting obligations, indicating a transparent capital management and growth strategy that could underpin future expansion of its exploration portfolio and affect shareholder dilution and project pipeline depth.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has applied to the ASX for quotation of 9,417,359 new fully paid ordinary shares under its FRS ticker. The additional securities, issued on 9 January 2026 following the conversion of options or other convertible instruments, will expand the company’s quoted share base and may enhance its market liquidity and capital position, with implications for existing shareholders’ dilution and future funding flexibility.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has disclosed a change in director Adam Turnbull’s holdings, reflecting the vesting of performance-based equity previously approved by shareholders. The company reported that 1,475,000 performance rights held by Turnbull vested and were converted into the same number of fully paid ordinary shares at no cash consideration, increasing his direct shareholding to 30,806,763 shares while reducing his performance rights balance to 12,875,000; his indirect shareholding through Premier Waterproofing Pty Ltd remains unchanged. The move underscores the operation of Forrestania’s long-term incentive structure, aligning executive remuneration with performance milestones and potentially reinforcing investor confidence in the company’s governance and incentive practices.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has disclosed a change in the indirect holdings of director Daniel Raihani, reflecting an internal equity adjustment rather than a market transaction. The company reported that 1,475,000 performance rights held via 7 Enterprises Pty Ltd have vested, converting into an equal number of ordinary fully paid shares at nil consideration after the satisfaction of a shareholder‑approved vesting condition, increasing Raihani’s indirect shareholding to 31,475,000 shares and reducing his performance rights to 12,875,000, which may modestly realign his incentives with long‑term shareholder value.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Ltd has disclosed a change in director David Geraghty’s holding in the company, detailing movements in his direct and indirect interests in fully paid ordinary shares, performance rights and listed options. The change arises from the vesting of Tranche 1 of previously approved performance rights, resulting in the issue of additional ordinary shares at no cash consideration and a corresponding reduction in performance rights, a routine corporate governance disclosure that modestly increases Geraghty’s equity exposure and aligns his incentives further with shareholders.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has issued 4,850,000 new ordinary fully paid shares, comprising 25,000 shares from the exercise of listed options and 4,825,000 shares from the vesting of a tranche of performance rights previously approved by shareholders. The company stated it remains in active negotiations over potential acquisitions of equity, licences and leases around its existing projects and across the wider Goldfields region, while working toward the orderly completion of acquisitions already announced, highlighting the ongoing expansion of its project portfolio and strategic positioning in Western Australia’s gold sector.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has applied to the ASX for quotation of 4,850,000 new ordinary fully paid shares. The securities, issued on 31 December 2025 and 2 January 2026 following the exercise of options or conversion of other securities, will increase the company’s quoted share capital, potentially broadening its investor base and enhancing liquidity in its stock.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources Limited has provided a formal notice under the Corporations Act regarding the status of conditions attached to its off-market takeover bid for all fully paid ordinary shares in Kula Gold Limited. The company confirmed that the minimum acceptance condition has been satisfied, all other defeating conditions have been waived, and the offer is now wholly unconditional, with Forrestania already holding 82.04% voting power in Kula. The offer remains open until 22 January 2026, positioning Forrestania to secure effective control of Kula and potentially reshape its asset base and strategic footprint within the resources sector.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has executed a formal sale agreement with Poseidon Nickel, a subsidiary of Horizon Minerals, to acquire the Lake Johnston Project, including tenements, processing plant, buildings and associated infrastructure. The deal terms have been amended so that Forrestania has already paid $8 million in cash, with a remaining $20 million in cash and $5 million in Forrestania shares to be paid at completion following a shareholder meeting slated for 12 January 2026. In parallel, Forrestania has begun early contractor involvement to convert the Lake Johnston processing facility from nickel to gold, engaging specialist firms for environmental approvals, non-process infrastructure, process plant engineering, mining studies, and financial modelling, positioning the company to move rapidly toward assessing and potentially initiating future gold production from its existing resources.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Forrestania Resources has advised the ASX of a change in the interests of director David Geraghty in the company’s securities, as required under listing rules. The notice shows that, via an entity controlled by his spouse, Geraghty acquired 946,110 listed options on-market for $111,121.20 between 16 and 24 December 2025, lifting that holding to 2,486,958 options, while his substantial existing holdings of fully paid ordinary shares and performance rights remain unchanged, signalling continued financial exposure and alignment with shareholders.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
Beacon Minerals Limited has agreed to sell its non-core Mt Dimer mining and exploration tenements in Western Australia to Forrestania Resources Limited for A$50,000, under a binding Tenement Sale Agreement that includes associated mining information. In addition, Forrestania will pay A$150,000 for a pre-emptive right over a separate group of Mt Dimer-area tenements should Beacon later choose to sell them, while Beacon plans to continue drilling those retained tenements to grow resources and reserves ahead of a potential mining decision; proceeds from the transaction will be directed to working capital, reinforcing Beacon’s strategy of monetising non-core assets and reducing ongoing costs to focus on core gold operations.
Forrestania Resources has agreed to acquire three mining leases and one exploration licence at its Mt Dimer Hub from Beacon Minerals for $50,000 in cash, while also securing pre-emptive rights over additional Beacon mining and miscellaneous licences in the same area for a further $150,000. The transactions expand Forrestania’s footprint in a structurally and geologically prospective part of the Marda-Diemals Greenstone Belt, consolidating its land position around Mt Dimer and potentially enhancing its future exploration pipeline and development options by securing tenure along key structures such as the Dimer-Jackson Fault and improving access via established regional infrastructure.
Forrestania Resources Limited has declared its off-market takeover offer for all fully paid ordinary shares in Kula Gold Limited wholly unconditional by waiving all remaining defeating conditions attached to the bid. The company has also extended the offer period from 8 January 2026 to 22 January 2026, giving Kula shareholders additional time to consider the proposal, a step that underscores Forrestania’s commitment to completing the acquisition and could materially affect control of Kula and the strategic consolidation of their respective resource assets.
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.
Forrestania Resources Limited has announced that Blue Capital Equities Pty Ltd, a previous substantial shareholder, has ceased its substantial holding in the company. This change involved the disposal of 11 million ordinary shares, representing a significant shift in the shareholder structure, which could potentially impact stakeholder dynamics and the company’s future strategic actions.
Forrestania Resources Limited has announced a significant development in its off-market takeover bid for Kula Gold Limited. The company has increased its voting power in Kula to 51.37%, surpassing the 50% threshold and fulfilling a key condition of the takeover offer. This advancement indicates a strategic move by Forrestania to consolidate its position in the market, with the offer set to close on January 8, 2026.
Forrestania Resources Limited has secured over 50% acceptance of shares from Kula Gold Limited shareholders, marking a significant step in its regional consolidation strategy. This acquisition positions Forrestania to leverage its Lake Johnston processing infrastructure for potential near-term gold production, enhancing operational synergies and advancing its market positioning in Western Australia’s mining districts.
Forrestania Resources Limited announced positive results from its Phase 3 RC drilling program at the Ada Ann prospect, part of the Bonnie Vale Project in Western Australia. The drilling confirmed high-grade gold mineralization and supports potential resource growth, with plans for further exploration to extend the mineralized zones. This development strengthens the company’s growth profile and aligns with its strategy to expand its operations in the region.
Forrestania Resources Limited has announced the application for quotation of 726,435 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 12, 2025. This move is part of the company’s strategy to enhance its capital structure and potentially increase its market presence, which could have significant implications for its operational capabilities and stakeholder interests.
Forrestania Resources Limited has issued 726,435 ordinary shares upon the exercise of options, as part of its ongoing efforts to complete previously announced acquisitions and negotiate potential new acquisitions in the Goldfields region. This move is part of the company’s strategy to expand its asset base and enhance its market position in the gold exploration industry, although there is no guarantee of the completion of these negotiations.
Forrestania Resources Limited has announced the appointment of Brett James Hodgins as a director, effective December 5, 2025. Hodgins has entered into an Executive Services Agreement with the company, which includes potential rights to receive his salary in equity form and to participate in the company’s incentive plans, pending shareholder approval. This appointment and the associated contractual terms could impact the company’s governance and strategic direction, potentially influencing shareholder interests and company performance.
Forrestania Resources Limited has announced a General Meeting to be held on January 12, 2026, where shareholders will vote on several key resolutions. These include the ratification and approval of various tranches of placement shares and options, which are part of the company’s capital raising efforts. The resolutions, if passed, will allow the company to issue a significant number of shares and options, potentially impacting its capital structure and stakeholder interests.
Forrestania Resources Limited has dispatched its Share Purchase Plan (SPP) to eligible shareholders, as announced on 18 November 2025. This move is part of the company’s broader strategy to enhance shareholder value and expand its operations in key mining districts, potentially impacting its market positioning and stakeholder interests positively.
Forrestania Resources Limited has announced a proposed issue of 15,236,052 fully paid ordinary securities, scheduled for January 14, 2026. This strategic move is likely aimed at raising capital to support the company’s ongoing projects and strengthen its market position, potentially impacting stakeholders by enhancing the company’s operational capabilities and financial stability.
Forrestania Resources Limited has executed a binding agreement to acquire 100% of the mineral rights, excluding iron ore, across the Mt Dimer, Mt Jackson, and Johnston Range project areas in the Eastern Goldfields region of Western Australia. This acquisition is part of Forrestania’s strategy to consolidate high-quality assets and expand its gold-focused tenure, supporting its medium-term pipeline for the Lake Johnston processing facility. The deal includes upfront cash and shares, with additional structured payments tied to future resource definitions, enhancing Forrestania’s portfolio and its potential for near-term gold production.
Forrestania Resources Limited has launched an off-market takeover bid for all ordinary shares in Kula Gold Limited, a move unanimously recommended by Kula’s directors in the absence of a superior proposal. The offer is set to close on January 8, 2026, and shareholders are encouraged to accept the offer by following the provided instructions.
Forrestania Resources Limited has announced the completion of dispatching its replacement bidder’s statement for an off-market takeover offer aimed at acquiring all fully paid ordinary shares of Kula Gold Limited. This move signifies a strategic step in Forrestania’s expansion efforts, potentially enhancing its market position and influence within the industry.
Forrestania Resources Limited has announced a proposed issue of 178,875,471 ordinary fully paid securities, with the issuance date set for January 12, 2026. This strategic move is aimed at raising capital, potentially enhancing the company’s operational capabilities and market position, which could have significant implications for its stakeholders and future growth prospects.
Forrestania Resources Limited has issued over 2.5 million ordinary shares following the exercise of listed and unlisted options. The company is actively pursuing acquisitions and negotiations for equity, licenses, and leases around its existing projects in the Goldfields region, although there is no guarantee of completion. This move aligns with Forrestania’s strategy to enhance its asset base and strengthen its position in the mining industry.
Forrestania Resources Limited announced the issuance of 2,537,706 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of the company’s strategy to enhance its capital structure and potentially improve its market position, reflecting its ongoing commitment to growth and development in the mining sector.
Forrestania Resources Limited announced a change in the director’s interest, specifically involving David Geraghty. The changes include the acquisition of 3,000,000 fully paid ordinary shares and 1,540,848 listed options by a company controlled by the director’s spouse. This transaction reflects an increased stake in the company, potentially signaling confidence in its future prospects and impacting its market positioning.
Forrestania Resources Limited has announced a takeover offer to acquire all ordinary shares of Kula Gold Limited, with Kula’s directors recommending shareholders accept the offer unless a superior proposal emerges. This strategic move is expected to enhance Forrestania’s market position and resource portfolio, potentially impacting stakeholders by increasing the company’s operational scale and market influence.
Forrestania Resources Limited has announced an off-market takeover offer to acquire all ordinary shares of Kula Gold Limited that it does not already own. The offer, which has been recommended by Kula’s directors, proposes an exchange of 5.6 Kula shares for 1 new Forrestania share, with the offer set to close on January 8, 2026. This strategic move is likely to enhance Forrestania’s market position by expanding its resource base and potentially increasing shareholder value.
Forrestania Resources Limited has made an off-market takeover bid for all ordinary shares in Kula Gold Limited. The Directors of Kula Gold have unanimously recommended that shareholders accept the offer, provided no superior proposal emerges. This strategic move could potentially enhance Forrestania’s market position and influence within the industry.
Forrestania Resources Limited has appointed Damian Hicks as the new Company Secretary following the resignation of Oliver Clark. Hicks brings extensive experience from his previous roles, including founding Hannans Ltd and serving as a director at Recycling Industries Scandinavia AB. His appointment is expected to strengthen Forrestania’s communication with the ASX and enhance its strategic initiatives in the gold exploration sector.
Forrestania Resources Limited has announced a correction to the issue price of its placement shares, originally misstated in a previous filing. The correct issue price is $0.175 per security, not $17.5 as previously reported. This correction ensures accurate financial reporting and maintains transparency with stakeholders regarding the company’s securities transactions.
Forrestania Resources Limited has issued 976,511 ordinary fully paid shares, including 716,667 shares from exercised options and additional shares as consideration for acquisitions, as part of its ongoing expansion strategy. The company continues to pursue acquisitions and negotiations to enhance its portfolio in Western Australia’s gold-rich regions, although there is no guarantee of future agreements, reflecting its commitment to growth and shareholder value.
Forrestania Resources Limited has announced the application for the quotation of 163,551 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move is part of a previously announced transaction and signifies the company’s ongoing efforts to enhance its market presence and operational capacity, potentially impacting its stakeholders positively by increasing liquidity and access to capital.
Forrestania Resources Limited has announced the quotation of 96,293 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move is part of a previously announced transaction and reflects the company’s ongoing efforts to enhance its financial standing and market presence. The issuance of these securities is expected to impact the company’s operations by potentially increasing its capital base, thereby supporting its strategic initiatives and growth plans.
Forrestania Resources Limited has announced the issuance of 716,667 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of the company’s strategy to enhance its financial flexibility and potentially expand its operations, reflecting a proactive approach to capital management and growth within the competitive mining industry.
Forrestania Resources Limited has announced the quotation of 75,633,200 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 25, 2025. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and market presence, potentially benefiting stakeholders by increasing the company’s capital base and facilitating further growth initiatives.
Forrestania Resources Limited has announced a proposed issue of 10,000,000 advisor options, set to expire three years from the issue date, with an exercise price of $0.75. This strategic move is aimed at enhancing the company’s capital structure and potentially strengthening its market position by attracting investment and facilitating future growth.
Forrestania Resources Limited has announced an extension to the closing date for its cleansing offer, now set to close on 25 November 2025. This decision, authorized by the company’s board, may impact the company’s financial strategy and shareholder engagement by providing additional time for participation in the offer.
Forrestania Resources Limited announced a proposed issue of 178,875,471 fully paid ordinary securities, scheduled for January 12, 2026. This strategic move is expected to enhance the company’s capital structure, potentially impacting its market position and providing opportunities for growth and development in the resource sector.
Forrestania Resources Limited has announced an off-market takeover bid to acquire all ordinary shares of Kula Gold Limited that it does not already own. The bidder’s statement has been lodged with the Australian Securities and Investments Commission and served on Kula Gold, marking a significant move in Forrestania’s strategic expansion efforts.
Forrestania Resources Limited has updated the opening date for its share purchase plan to align with its shareholder meeting and the closing of its recent placement. Eligible shareholders can purchase shares at $0.175 each, with the option to acquire new options exercisable at $0.24, subject to shareholder approval.
Forrestania Resources Limited has updated the opening date of its share purchase plan to align with its upcoming shareholder meeting and the closing of tranche 2 of its placement. Eligible shareholders can purchase shares at $0.175 each and participate in an option offer, pending shareholder approval, which allows for the acquisition of options exercisable at $0.30 within three years. This initiative is part of the company’s strategy to raise capital and engage its shareholders in the company’s growth plans.
Forrestania Resources Limited has announced the cessation of 547,424 securities due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This cessation could impact the company’s capital structure and may influence stakeholder perceptions regarding the company’s operational strategies and financial health.
Forrestania Resources Limited has announced the quotation of 45,333 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 21, 2025. This move is part of the company’s ongoing efforts to enhance its market presence and provide liquidity to its shareholders, potentially impacting its operational strategy and stakeholder engagement.
Forrestania Resources Limited has announced the quotation of 3,140,635 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective November 20, 2025. This move signifies the company’s strategic efforts to enhance its capital structure, potentially impacting its market presence and offering new opportunities for investors and stakeholders.
Forrestania Resources Limited has announced an updated timetable for its off-market takeover offer for Kula Gold Limited, which includes a slight procedural delay. The acquisition of Kula Gold is part of Forrestania’s strategy to grow its gold development business, further supported by the recent acquisition of the Lake Johnston Project from Horizon Minerals and an equity injection. This move is expected to enhance Forrestania’s resource base and define a clear pathway to gold production.
Forrestania Resources Limited announced a change in the director’s interest, with David Geraghty acquiring 30 million ordinary fully paid shares while disposing of 30 million unlisted options. This shift in securities indicates a strategic move by the director, potentially impacting the company’s stock dynamics and signaling confidence in the company’s future prospects.
Forrestania Resources Limited has announced the quotation of 45,342,156 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 18, 2025. This move is part of the company’s strategic efforts to enhance its financial flexibility and support its ongoing projects, potentially impacting its market positioning and offering new opportunities for investors.
Forrestania Resources Limited has issued a cleansing prospectus to offer up to 1,000 shares at $0.20 each, aiming to raise $200 before expenses. This move is primarily to remove trading restrictions on previously issued shares, ensuring compliance with section 708A(11) of the Corporations Act. The prospectus highlights the speculative nature of the shares and emphasizes the importance of consulting professional advisers before investing. It also underscores the company’s commitment to continuous disclosure obligations as a disclosing entity under the Corporations Act.
Forrestania Resources Limited has completed its diamond drilling program at the Breakaway Dam Copper VMS prospect, revealing significant copper and zinc mineralization. The drilling results, which include assays of up to 1.97% copper and 1.44% zinc, have identified new electromagnetic conductor targets, indicating the potential for further discoveries. This development strengthens Breakaway Dam’s position as a key focus for the company, complementing its ongoing gold development strategy and enhancing its industry positioning.
Forrestania Resources Limited has entered into three binding agreements to acquire multiple prospecting and mining licenses near Jaurdi Hill, WA, expanding its Bonnie Vale Project area. This strategic acquisition is designed to enhance the company’s regional footprint and includes a performance-linked, value-accretive deal structure with low upfront costs and additional considerations tied to resource milestones. The acquisition positions Forrestania Resources to potentially leverage existing toll treatment facilities, subject to resource definition and approvals, thereby strengthening its operational capabilities and market position.
Forrestania Resources Limited has announced a proposed issuance of 28,571,429 fully paid ordinary securities, with the issue date set for January 31, 2025. This move is part of a placement or other type of issue, as per the ASX listing rules, and aims to enhance the company’s financial positioning and operational capacity.
Forrestania Resources Limited has announced a proposed issue of securities under a securities purchase plan, with a maximum of 11,428,572 ordinary fully paid securities to be issued. This initiative is part of the company’s strategy to raise capital, potentially enhancing its financial position and supporting its ongoing operations and growth within the mining industry.
Forrestania Resources Limited has announced a significant acquisition of the Lake Johnston Project from Poseidon Nickel Pty Ltd, a subsidiary of Horizon Minerals Limited. This acquisition includes a processing plant and infrastructure, which positions the company to transition from an explorer to a near-term gold producer. The acquisition is expected to reduce capital intensity and development risk, providing a clear pathway to production. Additionally, Forrestania has secured $34 million in capital raising to fund the acquisition, with two new cornerstone investors emerging as substantial shareholders. This strategic move aligns with Forrestania’s goal to accelerate its pathway to cash flow by utilizing the existing infrastructure to process ore from its consolidated gold projects.
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.
Forrestania Resources Limited has requested a trading halt on its securities pending an announcement about a proposed capital raising and material acquisition. This halt is expected to last until the company releases the announcement or until normal trading resumes on November 18, 2025. The decision indicates a significant strategic move by Forrestania Resources, which could impact its market position and stakeholder interests.
Forrestania Resources Limited has announced the issuance of 7,188,414 new ordinary fully paid securities on November 7, 2025. This move is part of the company’s strategy to enhance its capital structure by converting options or other convertible securities, potentially impacting its market position and shareholder value.
Forrestania Resources Limited has announced the issuance of 45,450,000 director performance rights as unquoted equity securities. This move is part of previously announced transactions and reflects the company’s strategy to incentivize its leadership, potentially impacting its operational focus and aligning management interests with shareholder value.
Forrestania Resources Limited has announced the issuance of unquoted equity securities in the form of options with varying expiration dates and exercise prices. This issuance involves a total of 60 million options, which are not intended to be quoted on the ASX. The move is part of a transaction or series of transactions previously announced to the market, potentially impacting the company’s financial strategy and stakeholder interests.
Forrestania Resources Limited has completed the acquisition of North Iron Cap Pty Ltd, issuing over 42 million ordinary shares as part of the transaction. The company is actively pursuing additional acquisitions and negotiations for licenses and leases around its existing projects, although there is no guarantee of completion. This strategic expansion aims to enhance Forrestania’s position in Western Australia’s mining districts, potentially increasing shareholder value through systematic exploration and asset growth.
Forrestania Resources Limited has completed the acquisition of North Iron Cap Pty Ltd, which holds the gold rights over the North Ironcap deposit, an advanced open pit gold project with a JORC-compliant inferred mineral resource of 2.412 million tonnes at 1.37g/t for 105,953 ounces of gold. This acquisition aligns with Forrestania’s strategy to build a profitable Western Australian gold company, enhancing its asset base and strengthening its pathway toward production by leveraging the project’s proximity to established processing infrastructure.
Forrestania Resources Limited has announced the quotation of 26,454 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from October 31, 2025. This move is part of the company’s ongoing efforts to enhance its market presence and provide liquidity for its stakeholders, potentially impacting its operational strategies and investor relations positively.
Forrestania Resources Limited has announced the quotation of 42,140,398 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 4, 2025. This move is part of previously announced transactions and is expected to enhance the company’s market presence and liquidity, potentially impacting its operational capabilities and stakeholder interests positively.
Forrestania Resources Limited has retracted a reference to a Mineral Resources Estimate (MRE) for the Hyden Project Holdings deposit from a recent investor briefing, as it was not compliant with ASX Listing Rules. The company advises investors not to rely on the retracted information for investment decisions, but confirms that other information in the presentation remains unaffected.
Forrestania Resources Limited has extended its option to acquire Hyden Project Holdings Pty Ltd, which holds the Hyden Project in Western Australia, including the Lady Ada and Lady Magdalene gold deposits. The agreement allows the company to extend the option expiry date by one month for a fee, with 50% of any extension fee deductible from the Tranche 1 consideration cash. This strategic move underscores Forrestania’s commitment to expanding its gold asset base and enhancing its position in the gold exploration industry.
Forrestania Resources Limited announced the successful passage of all resolutions at its General Meeting held on 31 October 2025. The resolutions included the ratification of share issues and the issuance of securities for acquisitions, as well as the appointment of directors and performance rights. This outcome supports the company’s strategic growth initiatives and strengthens its position in the mining sector.
Forrestania Resources Limited has announced its upcoming General Meeting scheduled for 28 November 2025 in Perth, Western Australia. Shareholders are encouraged to participate by voting online or submitting proxy forms in advance. The company emphasizes the importance of electronic communication to reduce paper usage and carbon footprint, aligning with its commitment to sustainability.
Forrestania Resources Limited has announced significant expansions and developments for the quarter ending September 2025. The company has secured multiple acquisitions and options to expand its footprint across key projects, including the acquisition of IMD Gold Pty Ltd, North Iron Cap Pty Ltd, and First Western Gold Pty Ltd. Additionally, Forrestania announced upgraded mineral resource estimates for its Lady Lila and Ada Ann projects, alongside a strategic placement to raise $8.61 million. The appointment of David Geraghty as Chairman and Adam Turnbull as Non-executive Director further strengthens its leadership team, positioning the company for continued growth in Western Australia’s gold mining sector.
Forrestania Resources Limited has announced that it currently has no intention to proceed with a takeover offer for TG Metals Limited, despite having acquired a 10.3% shareholding in the company at an average price of 18.2 cents per share. This decision reflects Forrestania’s strategic focus on expanding its gold exploration and development projects in Western Australia, rather than pursuing acquisitions outside its core areas of interest.
Forrestania Resources Limited has announced the quotation of 12,500 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of October 22, 2025. This move signifies the company’s ongoing efforts to enhance its financial standing and potentially expand its operations, which could have implications for its market positioning and stakeholder interests.
Forrestania Resources Limited has announced a live investor briefing webinar scheduled for October 28, 2025, where directors will update shareholders and investors on the company’s current activities and corporate strategy. This initiative reflects Forrestania’s commitment to transparency and stakeholder engagement as it continues to advance its gold exploration and development projects in Western Australia, potentially impacting its market positioning and shareholder value.
Forrestania Resources Limited has announced the expiry of 26,207,068 quoted options, exercisable at $0.075, on 20 November 2025. Optionholders are advised to exercise their options before the expiry date to avoid them lapsing and being removed from quotation, with the company providing personalized notices to guide them through the process.