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Forrestania Resources Limited ( (AU:FRS) ) has issued an update.
Forrestania Resources Limited has announced its acquisition of four exploration licenses adjacent to the Edna May Gold Mine in the Southern Cross region of Western Australia. This strategic move aims to consolidate high-quality gold assets, positioning Forrestania as a major player in the region. The acquisition involves a $500,000 cash payment and an additional $1,000,000 upon reporting an Inferred Mineral Resource of 100,000 ounces of gold. The completion of this acquisition is contingent upon due diligence and obtaining necessary regulatory and third-party approvals.
More about Forrestania Resources Limited
Forrestania Resources Limited is an Australian resources company focused on exploring gold, copper, and lithium in the Forrestania, Southern Cross, and Eastern Goldfields regions of Western Australia. The company holds various exploration licenses in these areas, including the Forrestania Project, which is near significant mining sites such as the Bounty gold mine and the Covalent Mt Holland Lithium Mine.
Average Trading Volume: 1,327,375
Technical Sentiment Signal: Buy
Current Market Cap: A$118.3M
Learn more about FRS stock on TipRanks’ Stock Analysis page.