FRS.ASX: Third Supplementary Target's Statement

Third Supplementary Target's Statement

Stock	Forrestania Resources Ltd (FRS.ASX)
Release Time	18 Aug 2026, 2:17 p.m.
Price Sensitive	Yes

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Forrestania Resources' Acquisition of Edna May Gold Hub

Key Points

Forrestania's acquisition of Edna May Gold Hub accelerates the timeline for becoming a gold producer
Zenith Directors recommend accepting the takeover offer in the absence of a Superior Proposal
Acceptance of the offer transfers risks and development costs to Forrestania
Zenith Shareholders will hold less of the Combined Group post-acquisition
No Superior Proposal has emerged as of the announcement date

Full Summary

Forrestania Resources Ltd (ASX: FRS) has announced the acquisition of the Edna May Gold Hub from Ramelius Resources Limited, which is expected to accelerate its transition to a gold producer. The Zenith Minerals Limited (ASX: ZNC) board unanimously recommends accepting the takeover offer by Forrestania, highlighting the benefits of the acquisition, including immediate exposure to production cash flow, reduced risk, and greater liquidity. However, shareholders accepting the offer will hold a smaller percentage of the combined group and face potential tax implications. No Superior Proposal has emerged, and Zenith continues to recommend accepting the offer.

Guidance

No specific financial guidance provided.

Outlook

Forrestania expects to complete the acquisition in Q3 2026, funding it through equity raising and a proposed debt facility.