Completion of Edna May Gold Project Acquisition

Key points

• Acquisition of Edna May Gold Project from Ramelius Resources Limited
• Payment of A$210 million in cash and 225 million shares
• Establishes second processing hub in Western Australia
• Advances strategy to become a significant gold producer

Full summary

Forrestania Resources Limited (ASX: FRS) has successfully completed its acquisition of the Edna May Gold Project from Ramelius Resources Limited. The transaction, which was financed through a combination of A$210 million in cash and the issuance of 225 million Forrestania shares, solidifies Forrestania's status as a significant player in the Western Australian gold sector. This acquisition marks the establishment of Forrestania's second processing hub, complementing its existing Lake Johnston facility, thereby enhancing its strategic position and production capabilities.

Guidance

No specific financial guidance provided

Outlook

The acquisition of the Edna May Gold Project is expected to accelerate Forrestania's transition to becoming a significant Western Australian gold producer.