Forrestania Resources secures $310M for acquisition

• Forrestania Resources (ASX:FRS) has raised $310 million through a two-tranche institutional placement.
• The funds will be raised at $0.40 per share, representing a 5.9% discount from the last closing price.
• The company will use the proceeds to fund the acquisition and refurbishment of the Edna May Gold Hub.

Forrestania Resources (ASX:FRS) has secured $310 million through an institutional placement to fund its Edna May acquisition.

The placement share price of $0.40 represents a 5.9% discount to the last close of $0.425.

“We wish to extend our gratitude to existing and new shareholders for their strong support of this capital raise, which underpins the transformational acquisition of the Edna May processing infrastructure and tenement package from Ramelius Resources (ASX:RMS) as announced on 29 June 2026,” said Forrestania Resources Executive Chairman David Geraghty.

The company increased the cash component to $210 million and decreased the share consideration to $90 million.

Following the announcement, the Forrestania Resources share price was up at $0.46.

Management stated that the transaction will help advance the development of its dual processing hub strategy.

Refurbishment work is currently underway at the company's Lake Johnston processing facility as part of this regional strategy.