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Forrestania Resources Limited ( (AU:FRS) ) has issued an update.
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.
More about Forrestania Resources Limited
Forrestania Resources Limited is a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts. The company is strategically expanding its footprint in the Southern Cross, Eastern Goldfields, and Forrestania regions through disciplined exploration and selective acquisitions, aiming to define significant gold resources for long-term development opportunities.
Average Trading Volume: 1,378,199
Technical Sentiment Signal: Buy
Current Market Cap: A$94.42M
See more insights into FRS stock on TipRanks’ Stock Analysis page.