Annonce • May 06
Forrestania Resources Limited (ASX:FRS) acquired Karonie and Lake Rebecca Projects of Goldtribe Corporation Pty Ltd. Forrestania Resources Limited (ASX:FRS) entered into a Binding Heads of Agreement to acquire Karonie and Lake Rebecca Projects of Goldtribe Corporation Pty Ltd for AUD 4.9 million on March 11, 2026. The consideration consists of 7.73 million common equity of Forrestania Resources Limited having a value of AUD 4.87 million to be issued for the Karonie and Lake Rebecca Projects of Goldtribe Corporation Pty Ltd. Alchemy Resources Limited will receive a 1% net smelter royalty on all minerals mined from the tenements. As part of consideration, AUD 4.87 million is paid towards the Karonie and Lake Rebecca Projects of Goldtribe Corporation Pty Ltd.
The transaction is subject to approval of offer by acquirer shareholders, approval by regulatory board / committee, consummation of due diligence investigation and third party approval needed.
Forrestania Resources Limited (ASX:FRS) completed the acquisition of Karonie and Lake Rebecca Projects of Goldtribe Corporation Pty Ltd. The transaction received approval from target board. Recent Insider Transactions Derivative • Apr 07
Executive Chairman exercised options to buy AU$316k worth of stock. On the 1st of April, David Geraghty exercised options to buy 653k shares at a strike price of around AU$0.26, costing a total of AU$168k. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. Since June 2025, David's direct individual holding has increased from 150.00k shares to 53.47m. Company insiders have collectively bought AU$5.0m more than they sold, via options and on-market transactions, in the last 12 months. Annonce • Apr 03
Forrestania Resources Limited (ASX:FRS) completed the acquisition of Mt Dimer tenement package from Beacon Mining Pty Ltd. Forrestania Resources Limited (ASX:FRS) signed a heads of agreement to acquire Mt Dimer tenement package from Beacon Mining Pty Ltd for AUD 0.2 million on December 24, 2025. A cash consideration of AUD 0.15 million will be paid by Forrestania Resources Limited. As part of consideration, AUD 0.15 million is paid towards assets of Mt Dimer tenement.
The transaction is subject to approval by regulatory board / committee and third party approval needed.
Forrestania Resources Limited (ASX:FRS) completed the acquisition of Mt Dimer tenement package from Beacon Mining Pty Ltd on April 2, 2026. Annonce • Mar 28
Forrestania Resources Limited (ASX:FRS) acquired Mantis Resources Pty Ltd. Forrestania Resources Limited (ASX:FRS) entered into a binding Heads of Agreement to acquire Mantis Resources Pty Ltd. for AUD 0.23 million on January 12, 2026. The consideration consists of common equity of Forrestania Resources Limited having a value of AUD 0.24 million to be issued for common equity of Mantis Resources Pty Ltd. As part of consideration, AUD 0.24 million is paid towards common equity of Mantis Resources Pty Ltd.
The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation.
Forrestania Resources Limited (ASX:FRS) completed the acquisition of Mantis Resources Pty Ltd. on March 27, 2026. New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (290% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (AU$4.2m revenue, or US$3.0m). Annonce • Mar 05
Forrestania Resources Limited (ASX:FRS) completed the acquisition of remaining 87.44% stake in Kula Gold Limited (ASX:KGD). Forrestania Resources Limited (ASX:FRS) entered into a Bid Implementation Deed to acquire remaining 87.44% stake in Kula Gold Limited (ASX:KGD) for AUD 44.1 million on October 14, 2025. Under the terms of the Offer, the Company will offer 1 fully paid ordinary shares in FRS for every 5.6 Kula Gold Limited shares held. The Agreement is subject to certain conditions such as FRS obtains a relevant interest in at least 50% of KGD’s shares, there are no “Prescribed Occurrences between the Announcement Date and the date 3 business days after the end of the Offer Period, there is no material adverse change in KGD, no governmental agency, court, or regulatory authority has taken (or is threatening to take) any action, investigation, or proceeding that would restrain, prohibit, or otherwise materially impede the making or completion of the Offer, or require divestiture of any KGD shares or material assets, The Offer does not trigger any changeof-control or similar rights under KGD’s material agreements. KGD’s Board has unanimously recommended that shareholders accept the Offer, in absence of a superior proposal, and that each director intends to accept the Offer in respect of the shares they hold or control. Offer period ends on December 1, 2025. As of November 21, 2025, Forrestania Resources Limited informed that the offer period ends on January 8, 2026. As of December 15, 2025, Forrestania Resources Limited holds 51.16% stake in Kula Gold Limited. As of December 23, 2025, Forrestania Resources Limited holds 76.07% stake in Kula Gold Limited, the transaction has become unconditional and the offer is extended to January 22, 2026. As of January 9, 2026, Forrestania Resources Limited holds 85.77% stake in Kula Gold Limited. As of January 13, 2026, Forrestania Resources holds 86.87% stake in Kula Gold Limited. As of January 21, 2026, Forrestania Resources holds 90% stake in Kula Gold and at least 75% (by number) of the Kula shares that Forrestania offered to acquire under the Offer. Accordingly, Forrestania has commenced the process to compulsorily acquire the remaining Kula shares that it does not have a relevant interest in under the compulsory acquisition provisions of the Corporations Act 2001 (Cth) (Corporations Act). The compulsory acquisition of the remaining Kula shares will be on the same terms as the Offer (as applicable).
Bell Potter Securities Ltd is acting as financial adviser and Steinepreis Paganin are acting as legal advisor to Forrestania Resources Limited. Hall Chadwick (WA) Pty Ltd and Automic Share Registry acted as an accountant and registrar respectively to Forrestania Resources Limited. PKF Perth acted as a tax consultant to Forrestania Resources Limited.
Forrestania Resources Limited (ASX:FRS) completed the acquisition of 87.44% stake in Kula Gold Limited (ASX:KGD) on March 5, 2026. Recent Insider Transactions Derivative • Feb 27
Executive Chairman exercised options to buy AU$7.2m worth of stock. On the 25th of February, David Geraghty exercised options to buy 10m shares at a strike price of around AU$0.28, costing a total of AU$2.9m. This transaction amounted to 25% of their direct individual holding at the time of the trade. Since June 2025, David's direct individual holding has increased from 150.00k shares to 42.02m. Company insiders have collectively bought AU$5.4m more than they sold, via options and on-market transactions, in the last 12 months. Annonce • Feb 25
Forrestania Resources Limited (ASX:FRS) entered into a Binding Heads of Agreement to acquire Lake Johnston Projects in Australia from Flynn Gold Limited (ASX:FG1) for AUD 0.35 million. Forrestania Resources Limited (ASX:FRS) entered into a Binding Heads of Agreement to acquire Lake Johnston Projects in Australia from Flynn Gold Limited (ASX:FG1) for AUD 0.35 million on February 25, 2026. Under the Agreement Acquisition consideration to be paid to Flynn at settlement is AUD 0.35 million via the issue to Flynn of a number of fully-paid ordinary shares in Forrestania equal to AUD 0.35 million.
Completion under the Agreement is conditional upon the satisfaction of the following conditions precedent: Completion of financial, legal and technical due diligence by the Forrestania Resources Limited on the tenements, to the absolute satisfaction of the Purchaser within a period of 10 business days from the date of the Agreement; the parties obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the parties to lawfully complete the matters set out in the Agreement; the parties obtaining all third-party approvals and consents, including the consent of the Minister responsible for the Mining Act, necessary to lawfully complete the matters set out in the Agreement; executing a deed of assignment and assumption in relation to each third-party agreement, and the Consideration Shares being issued by the Forrestania Resources Limited free from any escrow, holding lock, voluntary restriction agreement or other restriction on transfer under the Corporations Act or the ASX Listing. If the conditions precedent are not satisfied on or before 31 March 2026, then either Forrestania or the Flynn Gold may terminate the Agreement. Annonce • Feb 16
Forrestania Resources Limited (ASX:FRS) entered into a binding Heads of Agreement to acquire MacPhersons Reward Proprietary Limited from Beacon Mining Pty Ltd for AUD 25.5 million. Forrestania Resources Limited (ASX:FRS) entered into a binding Heads of Agreement to acquire MacPhersons Reward Proprietary Limited from Beacon Mining Pty Ltd for AUD 25.5 million on February 16, 2026. A cash consideration of AUD 5 million will be paid by Forrestania Resources Limited. The consideration consists of 36 million common equity of Forrestania Resources Limited to be issued for common equity of MacPhersons Reward Proprietary Limited. Beacon intends to use the cash consideration received for the disposal towards general working capital and the expansion of the Jaurdi Plant.
The transaction is subject to approval of offer by shareholders of Forrestania Resources Limited, approval by regulatory board / committee and third party approval needed. The expected completion of the transaction is March 31, 2026. Annonce • Feb 02
Forrestania Resources Limited (ASX:FRS) signed a Binding Heads of Agreement to acquire Aurumin Mt Palmer Pty Ltd from Newcam Minerals Pty Ltd for AUD 18 million. Forrestania Resources Limited (ASX:FRS) signed a Binding Heads of Agreement to acquire Aurumin Mt Palmer Pty Ltd from Newcam Minerals Pty Ltd for AUD 18 million on February 2, 2026. The consideration consists of 37.89 million common equity of Forrestania Resources Limited having a value of AUD 18 million to be issued for common equity of Aurumin Mt Palmer Pty Ltd. As part of consideration, AUD 18 million is paid towards common equity of Aurumin Mt Palmer Pty Ltd.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, consummation of due diligence investigation and third-party approval needed. If the conditions precedent are not satisfied (or waived) on or before 31 March 2026 (unless extended by the written agreement), then either Forrestania or the vendors may terminate this Agreement. Aurumin Mt Palmer Pty Ltd. is the 20% owner of one Mining Lease (M77/406), three Exploration Licences (E77/2210, E77/2423 and E77/2668) in and around the Company’s Southern Cross Hub. Annonce • Jan 16
Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 32 million. Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 32 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,633,200
Price\Range: AUD 0.175
Discount Per Security: AUD 0.0105
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 107,223,944
Price\Range: AUD 0.175
Discount Per Security: AUD 0.0105
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annonce • Jan 13
Forrestania Resources Limited (ASX:FRS) entered into a binding Heads of Agreement to acquire Mantis Resources Pty Ltd. for AUD 0.23 million. Forrestania Resources Limited (ASX:FRS) entered into a binding Heads of Agreement to acquire Mantis Resources Pty Ltd. for AUD 0.23 million on January 12, 2026. The consideration consists of common equity of Forrestania Resources Limited having a value of AUD 0.24 million to be issued for common equity of Mantis Resources Pty Ltd. As part of consideration, AUD 0.24 million is paid towards common equity of Mantis Resources Pty Ltd.
The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation. Recent Insider Transactions Derivative • Jan 10
Executive Chairman exercised options to buy AU$1.9m worth of stock. On the 9th of January, David Geraghty exercised options to buy 5m shares at a strike price of around AU$0.081, costing a total of AU$413k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since June 2025, David's direct individual holding has increased from 150.00k shares to 40.15m. Company insiders have collectively bought AU$2.6m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Dec 10
Executive Chairman recently bought AU$527k worth of stock On the 1st of December, David Geraghty bought around 3m shares on-market at roughly AU$0.18 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of AU$537k worth in shares. New Risk • Nov 25
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$2.6m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Significant insider selling over the past 3 months (AU$2.6m sold). Market cap is less than US$100m (AU$127.0m market cap, or US$82.1m). Recent Insider Transactions Derivative • Nov 20
Independent Chairman exercised options to buy AU$7.2m worth of stock. On the 18th of November, David Geraghty exercised options to buy 30m shares at a strike price of around AU$0.087, costing a total of AU$2.6m. This transaction amounted to 20,000% of their direct individual holding at the time of the trade. Since June 2025, David has owned 150.00k shares directly. Company insiders have collectively bought AU$4.3m more than they sold, via options and on-market transactions, in the last 12 months. Annonce • Nov 19
Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,428,572
Price\Range: AUD 0.175 Annonce • Nov 18
Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 32 million. Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 32 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,633,200
Price\Range: AUD 0.175
Discount Per Security: AUD 0.0105
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 107,223,944
Price\Range: AUD 0.175
Discount Per Security: AUD 0.0105
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annonce • Oct 14
Forrestania Resources Limited (ASX:FRS) entered into a Bid Implementation Deed to acquire remaining 87.44% stake in Kula Gold Limited (ASX:KGD) for AUD 44.1 million. Forrestania Resources Limited (ASX:FRS) entered into a Bid Implementation Deed to acquire remaining 87.44% stake in Kula Gold Limited (ASX:KGD) for AUD 44.1 million on October 14, 2025. Under the terms of the Offer, the Company will offer 1 fully paid ordinary shares in FRS for every 5.6 Kula Gold Limited shares held. The Agreement is subject to certain conditions such as FRS obtains a relevant interest in at least 50% of KGD’s shares, there are no “Prescribed Occurrences between the Announcement Date and the date 3 business days after the end of the Offer Period, there is no material adverse change in KGD, no governmental agency, court, or regulatory authority has taken (or is threatening to take) any action, investigation, or proceeding that would restrain, prohibit, or otherwise materially impede the making or completion of the Offer, or require divestiture of any KGD shares or material assets, The Offer does not trigger any changeof-control or similar rights under KGD’s material agreements. KGD’s Board has unanimously recommended that shareholders accept the Offer, in absence of a superior proposal, and that each director intends to accept the Offer in respect of the shares they hold or control. Offer period ends on December 1, 2025.
Bell Potter Securities Ltd is acting as financial adviser and Steinepreis Paganin are acting as legal advisor to FRS. New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (155% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (19% average weekly change). Market cap is less than US$100m (AU$117.4m market cap, or US$77.2m). Annonce • Sep 24
Forrestania Resources Limited (ASX:FRS) entered into a sale and purchase agreement to acquire four granted exploration licences adjacent to the Edna May Gold Mine from Kula Gold Limited (ASX:KGD) for AUD 1.5 million. Forrestania Resources Limited (ASX:FRS) entered into a sale and purchase agreement to acquire four granted exploration licences adjacent to the Edna May Gold Mine from Kula Gold Limited (ASX:KGD) for AUD 1.5 million on September 23, 2025. A cash consideration of AUD 0.5 million will be paid by Forrestania Resources Limited within in 7 days of the agreement and an earnout payment of AUD 1 million cash once the reporting an Inferred Mineral Resource in accordance with the JORC of 100,000 ounces of gold or equivalent has been achieved.
The transaction is subject to approval by regulatory board / committee and consummation of due diligence investigation. Recent Insider Transactions • Sep 20
Non-Executive Director recently bought AU$364k worth of stock On the 18th of September, Adam Turnbull bought around 7m shares on-market at roughly AU$0.053 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.4m more in shares than they have sold in the last 12 months. Annonce • Sep 13
Forrestania Resources Limited (ASX:FRS) signed Binding heads of agreement to acquire First Western Gold Pty. Ltd. from Askari Metals Limited (ASX:AS2) for AUD 0.7 million. Forrestania Resources Limited (ASX:FRS) signed Binding heads of agreement to acquire First Western Gold Pty. Ltd. from Askari Metals Limited (ASX:AS2) for AUD 0.7 million on September 12, 2025. The Total consideration of AUD 0.7 million, payable in cash and shares i.e., Pay to Askari the amount of AUD 0.25 million in cash and The Company will issue 2,223,321 Shares equal to AUD 0.45 million. Completion is subject to the following conditions precedent i.e., Completion of financial, legal and technical due diligence by FRS on FWG and the tenements, to the absolute discretion of FRS within 21 days of the Execution Date, Askari and FRS obtaining all necessary third-party approvals, waivers and/or consents required (to the extent required) to permit the transaction contemplated by the agreement; and All warranties being correct and not misleading or deceptive during the period between the execution of the agreement and settlement and Askari providing written confirmation of the same for the benefit of FRS. As part of the transaction, subject to Askari Metals shareholder approval. The agreement is otherwise on standard terms and conditions for a share sale agreement. The Company expects completion under the Agreement by no later than December 20, 2025. Annonce • Aug 27
Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 8.61 million. Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 8.61 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,000,000
Price\Range: AUD 0.205
Discount Per Security: AUD 0.0123
Transaction Features: Subsequent Direct Listing Annonce • Aug 14
Forrestania Resources Limited (ASX:FRS) signed a binding heads of agreement to acquire North Iron Cap Pty Ltd from its shareholders for AUD 10.6 million. Forrestania Resources Limited (ASX:FRS) signed a binding heads of agreement to acquire North Iron Cap Pty Ltd from its shareholders for AUD 10.6 million on August 14, 2025. A cash consideration of AUD 2.78 million will be paid by Forrestania Resources Limited. The consideration consists of 42.14 million common equity of Forrestania Resources Limited to be issued for common equity of North Iron Cap Pty Ltd.
The transaction is subject to approval of offer by acquirer shareholders, consummation of due diligence investigation and third party approval needed. The expected completion of the transaction is October 30, 2025. Annonce • Aug 13
Forrestania Resources Limited (ASX:FRS) signed a binding agreement to acquire gold rights on prospecting license P15/6113 and mining lease application M15/1934 from Bradley John McGhie for AUD 0.12 million. Forrestania Resources Limited (ASX:FRS) signed a binding agreement to acquire gold rights on prospecting license P15/6113 and mining lease application M15/1934 from Bradley John McGhie for AUD 0.12 million on August 12, 2025. A cash consideration of AUD 0.12 million will be paid by Forrestania Resources Limited. As part of consideration, but separate to the consideration price, Forrestania Resources Limited has agreed to pay Bradley John McGhie a 2.5% net smelter return royalty.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, review of data already on the tenement and third party approval needed. The expected completion of the transaction is December 20, 2025. Annonce • May 27
Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.05
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annonce • May 16
Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million. Forrestania Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • May 10
Non Executive Director recently bought AU$114k worth of stock On the 6th of May, Daniel Raihani bought around 8m shares on-market at roughly AU$0.014 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$367k. Insiders have collectively bought AU$1.0m more in shares than they have sold in the last 12 months. Annonce • Mar 12
Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.50091 million. Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.50091 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,036,411
Price\Range: AUD 0.025
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Feb 19
Non Executive Director recently bought AU$75k worth of stock On the 17th of February, Daniel Raihani bought around 4m shares on-market at roughly AU$0.021 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$123k more in shares than they have sold in the last 12 months. Annonce • Feb 18
Forrestania Resources Limited Announces Board Changes Forrestania Resources Limited announced that David Izzard has tendered his resignation as a Director to pursue other interests. Mr. Daniel Raihani, holding approximately an 8% interest in the Company through his company 7 Enterprises Pty Ltd, has agreed to join the board as a Non Executive Director. Mr. Raihani is an Accountant and Tax Professional with a wide range of experience at the executive level in the public, private and not-for-profit sectors. Mr. Raihani has controlling equity positions and directorships in private and public companies across various sectors. Mr. Raihani is currently the Managing Director of Aurumin Limited, Chairman of First Au Limited and Chairman of Voltaic Strategic Resources Limited. Mr. Raihani is a member of the Australian Institute of Company Directors (MAICD) and a Justice of the Peace. He holds a Bachelor of Business and Diploma of Financial Services. Annonce • Feb 12
Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.36 million. Forrestania Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.36 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,490,000
Price\Range: AUD 0.01
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 17,510,000
Price\Range: AUD 0.01
Transaction Features: Subsequent Direct Listing New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.65m market cap, or US$1.65m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Annonce • Oct 31
Forrestania Resources Limited, Annual General Meeting, Nov 29, 2024 Forrestania Resources Limited, Annual General Meeting, Nov 29, 2024. Location: at suite 2, 38 colin street, west perth, 6005, Australia New Risk • Oct 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.43m market cap, or US$1.68m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Annonce • Jun 26
Forrestania Resources Limited Announces Resignation of Scott Patrizi as Non Executive Director Forrestania Resources Limited announced Mr. Scott Patrizi has tendered his resignation as a Non Executive Director of the Board effective from 25 June 2024 to pursue other interests. New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Shareholders have been substantially diluted in the past year (134% increase in shares outstanding). Revenue is less than US$1m (AU$58k revenue, or US$38k). Market cap is less than US$10m (AU$3.24m market cap, or US$2.12m). Minor Risk Share price has been volatile over the past 3 months (18% average weekly change). New Risk • Nov 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.86m market cap, or US$1.86m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Annonce • Oct 05
Forrestania Resources Limited, Annual General Meeting, Nov 29, 2023 Forrestania Resources Limited, Annual General Meeting, Nov 29, 2023, at 10:30 W. Australia Standard Time. Location: Unit 2, 38 Colin Street, West Perth Western Australia Australia Agenda: To consider the election of Directors. New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.10m market cap, or US$3.28m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.28m market cap, or US$4.07m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Jul 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 83% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.21m market cap, or US$5.47m). New Risk • Jun 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 32% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Share price has been highly volatile over the past 3 months (32% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$10.4m market cap, or US$6.94m). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (35% increase in shares outstanding). Annonce • Feb 18
Forrestania Resources Provides an Update on Exploration Activities from Its Leonora/Eastern Goldfields Project Area Forrestania Resources provided an update on exploration activities from its Leonora/Eastern Goldfields project area. The Company's Eastern Goldfields Project is located north of Kalgoorlie around the gold mining districts of Leonora and Menzies. The Eastern Goldfields project area comprises ten tenements that are strategically located over areas that the Company believes are highly prospective for large scale, multi commodity discoveries. The Melita 02 prospect (located within the Breakaway Well project - E29/1118) was identified by Company geologists from historic WAMEX reports. These reports detail diamond exploration in the region by Stockdale Prospecting Limited, who identified numerous kimberlite occurrences within the project area, in the 1990s. A heli-mag geophysical survey led Stockdale Prospecting Limited to target the Melita 02 anomaly1 and subsequently, in 1997 several AC and RAB drill holes were completed, along with two trenches/costeans. Several field trips have taken place to the Eastern Goldfields project area by FRS geologists. At the Melita 02 prospect, with no outcrop available, a total of 11 "grab" samples were taken from historic costeans as well as from historic drill cuttings. These samples have returned strong REE results, see table 1. The results are especially encouraging given that the location of some of the high REE results are over 800m apart. Additionally, elevated and anomalous results for niobium were also returned, including: FR000545 - 242ppm Nb, FR000546 - 220ppm Nb, FR000544 - 218ppm Nb, FR000550 also returned very high values for barium (5210ppm Ba), lead (648ppm Pb), strontium (1045ppm Sr) and zinc (1020ppm Zn), helping confirm the magmatic origin of the intrusive. In a regional context, Asra Minerals have recently raised funds to advance their Mt Stirling Project2 (a multi-commodity asset with a high ratio of "heavy" REEs), approximately 60km the north-east of the Melita 02 prospect. Marquee Resources' Redlings REE deposit, a mineralised system that is related to carbonatitic dykes and associated fenitic alteration3, is located approximately 35km north-north-west of the Melita 02 prospect. Stockdale Prospecting Limited also noted in WAMEX report A53618, the location of a number of other geophysical, magnetic anomalies that have the potential to be dykes; many of these are located throughout the Company's Eastern Goldfields project area. The Melita 03 prospect is one of those geophysical anomalies and is located 1.6km to the north, also on the Company's Breakaway Well project. A number of other Stockdale Prospecting's geophysical targets are located across Forrestania Resources' tenements. Annonce • Feb 13
Forrestania Resources Limited Announces Successful Completion of Reverse Circulation Drilling Programme At Forrestania Lithium Project Forrestania Resources Limited announced successful completion of its second lithium-focussed reverse circulation (RC) drilling programme at its Forrestania lithium project, in WA's southern Yilgarn region. The company drilled 25 RC holes across four key prospects for 3,983m to test geochemical lithium and pathfinder anomalies, pegmatite surface exposures and the extension of pegmatites intersected in historic drilling. 25 RC holes for 3,983m were completed as part of the Company's lithium-focussed drilling programme. Nine holes were drilled at the South Iron Cap East prospect, five holes at the Giant prospect, seven holes at the Gem prospect and four holes at the Bounty East prospect. Drill holes were completed to a minimum depth of 102m and a maximum of 246m. The programme was curtailed from the planned 5,000m programme due to access approvals negating 3 holes at South Iron Cap East and other holes not drilled to target depth due to water issues. A very significant result from the South Iron Cap East drilling was the intersection of 32m of highly weathered felsic material from 10m in FSIR0003. The interval consisted of weathered material that included quartz, white clay and also included muscovite and tourmaline which are encouraging indicators for fractionated pegmatites. Follow up drilling will aim to target the fresh rock component of this pegmatite. Drill hole FGIR0004, located 20m to the north of the historic intercept, returned 11m of pegmatite from 73m depth. Additionally, drill hole FGIR0005, located 20m to the south of the historic intercept returned 10m of quartz and muscovite rich pegmatite from 110m depth. Very fine, white, elongate crystals were observed within some of the coarse quartz crystals, interpreted as possible spodumene. Drilling at Gem targeted extensions at depth to the historically mined Gem pegmatite. Of the six holes drilled at Gem, four holes intersected pegmatite. Drill hole FGER0006 returned 5m of lepidolite, cookeite and rubellite bearing, weathered pegmatite from 41m depth. Single metre pegmatite intersections were returned from FGER0005 at 99m, FGER0007 at 59m and FGER0010 at 88m. All intersections hosted lepidolite and/or rubellite, clearly demonstrating that the pegmatite is highly fractionated. The new data will be built into the company's geological model to incorporate into further drill planning where it will be used to target potential zones of pegmatite accumulation. What was more significant, however, was the felsic material intercepted near surface in all of the drill holes (up to 14m thick, see table 2), interpreted to correlate with the tantalum soil anomaly. The felsic material hosted quartz, trace muscovite and occasional pink crystals of possible weathered rubellite. The unit was interpreted as a highly weathered pegmatite which opens up the potential for further down dip, drill hole targeting. Samples have been collected and will be delivered to ALS for lithium and gold analysis with results expected within the next six weeks. Pending assay results, XRD or other spectral analysis will be completed on select mineralised samples to confirm mineralogy. Annonce • Jan 26
Forrestania Resources Limited Provides Drilling Update for the Forrestania Project -Prospective for Significant Lithium, Gold, and Nickel Discoveries Forrestania Resources Limited provided a drilling update for the Forrestania Project -prospective for significant lithium, gold, and nickel discoveries. Topdrill has successfully mobilised its Reverse Circulation (RC) drill rig to site and commenced the first of several RC drill holes at the high priority South Iron Cap East lithium prospect. This prospect is located in the southern portion of the Forrestania project area, 1km to the east of IGO's high grade lithium intercept of 50.6m @ 0.95% Li2O1. After the South Iron Cap East prospect, the rig will move to the Gemcutter and Giant Pegmatite prospects before finishing at the Bounty East prospect. Further details of the targets are set out in ASX release dated 20 December 2022. The Company will provide regular updates as drilling continues. Annonce • Jan 18
Forrestania Resources Limited Announces Execution of Drilling Contract for its Second Lithium-Focussed Drill Program at the Forrestania Project Forrestania Resources Limited announced it has executed a drilling contract for its second lithium-focussed drill program at the Forrestania Project. Topdrill Pty Ltd. has been engaged and will mobilise an RC rig for the programme to commence in the fourth week of January 2023. The RC drill programme for up to 5,000m will test targets at four of the Company's lithium prospects: Giant Pegmatite, targeting extensions of a previous discovery of 34m @ 3.1% Li2O1 from 68m. South Iron Cap East, testing the prospect identified in April 2022, which includes an anomalous tantalum in soil zone of over 2.5km in length with a pegmatite outcrop. This prospect is located less than 1km to the east of IGO's South Iron Cap drill intercept where 50.6m @ 0.95% Li2O2 was recorded from a nickel focussed drill hole. Gemcutter, targeting extensions to historic pegmatite and lithium intercepts, beneath the Gem Mine. Bounty East, drilling across the major tantalum anomaly zone, targeting deeper mineralisation on a drill line which has not previously been drilled, located only 6km east of the world class Mt Holland/Earl Grey lithium mine. Annonce • Dec 22
Forrestania Resources Limited Announce Plans for Drilling Programmes at the Company's Forrestania Project Forrestania Resources Limited announce plans for drilling programmes at the Company's Forrestania Project. Following the receipt of requisite approvals the Company is planning to drill four target areas including: Giant Pegmatite, targeting extensions of a previous discovery of 34m @ 3.1% Li2O from 68m Gemcutter, targeting extensions to historic pegmatite and lithium intercepts, beneath the Gem Mine Bounty East, drilling across the major tantalum anomaly zone, on a line which has not previously been drilled, only 6km east of the world class Mt Holland lithium mine South Iron Cap East, testing the prospect identified in April, which includes an anomalous tantalum in soil zone of over 2.5km in length with a pegmatite outcrop, located less than 1km the to east of IGO's South Iron Cap drill intercept where 50.6m @ 0.95% Li2O was recorded from a nickel focussed drill hole. A drilling programme has been planned to test priority lithium targets at the Company's flagship Forrestania Project. An RC drill programme of approximately 5,000m has been scheduled for January 2023. Drilling is planned to test lithium targets at South Iron Cap East, Gemcutter, the Giant Pegmatite and Bounty East prospects. A new Programme of Work (POW) approval was received for the Gemcutter and Giant Pegmatite targets on 14 December 2022, which means that POW approval has now been received for all targets. In addition, drill rig availability has been confirmed for mid-January 2023. The Company is particularly excited to be undertaking maiden drilling programmes at South Iron Cap East and the Giant Pegmatite. South Iron Cap East is a Company-generated target which is defined by an outcropping pegmatite within a strong tantalum in soil anomaly2 and is located within 1km of IGO's South Iron Cap lithium occurrence. South Iron Cap historically returned 50.6m @ 0.95% Li2O 3 from a nickel focussed drill hole. The Giant Pegmatite was drilled by Marindi Metals in 2016 and returned the best result of 34m @ 3.1% Li2O1. The true thickness of the pegmatite was later established to be between 5 10m. The Company plans to test the body of the pegmatite along strike and down dip to define the extent of the mineralisation. Preliminary maiden lithium drilling programmes were completed at both Gemcutter and Bounty East in November. However, recent POW approvals, have allowed a second drilling programme that enables more effective targeting of each prospect. At Gemcutter, a newly approved POW enables extensive targeting beneath the Gem Mine where historically logged pegmatite intercepts returned anomalous lithium. Interpretation and modelling of the historic pegmatite intercepts suggest that the pegmatite is still open down dip to the north, west and south of the logged pegmatites. At Bounty East, several pegmatites were intercepted in the maiden lithium programme completed in November5. The new POW approval provides access to the central part of a strong tantalum geochemical anomaly and is interpreted to be the optimal position to target and follow up on the returned pegmatite intercepts. Forrestania is engaging with drilling contractors to confirm timing for the upcoming RC drill programme. Multiple workstreams continue to be progressed by the Company, including regional soil sampling, heritage surveys and environmental surveys. As these workstreams progress, additional targets are anticipated to be generated and available for drilling. Forrestania Resources is excited be kicking the year off with an extensive lithium targeted drilling programme over some of the Company's high priority targets at the Forrestania Project and look forward to keeping shareholders updated with results. Annonce • Nov 29
Forrestania Resources Limited Announces Pegmatite Identified At New Calypso Prospect Forrestania Resources Limited provided this exploration update for field work completed at the newly identified Calypso prospect. The Calypso prospect is part of the Company's flagship Forrestania Project which is prospective for significant lithium, gold and nickel discoveries. The Calypso prospect is located at the southern end of the Forrestania Project on the western side of the tenement package. The geology team has completed a reconnaissance field trip to the Calypso prospect undertaking mapping and infill soil sampling. Mapping has identified a pegmatite subcrop which correlates with coarse grained or pegmatitic felsic rocks in historic air core drilling and anomalous lithium pathfinder elements (beryllium and rubidium) in soil and rock chip data. A campaign of mapping and soil sampling has recently been completed in the southern portion of the Forrestania Project. This campaign has resulted in the definition of a new prospect called - Calypso. Mapping has identified a pegmatite subcrop that coincides with lithium pathfinder soil anomalism and logged pegmatites and granitoids in historical aircore drilling. The Calypso prospect is located on tenement E77/2576 (Forrestania 80% /Jindalee Resources 20%). The soil sampling and mapping is part of a broader scale program which aims to provide improved coverage over the Forrestania Project to identify and define new lithium targets for drilling. The Calypso area was identified as a priority for mapping and soil sampling due to the underlying prospective geology (ultramafic and mafic rocks which are interpreted to be the preferential host for pegmatite intrusions) and the inconsistent coverage provided by existing soil sampling and drilling data. The area is part of the broader South Ironcap pegmatite field where Western Areas (now IGO) intersected significant lithium mineralisation in drilling ~4.5km to the east with a best drill result of 50.6m @ 0.95% Li2O. The mapped pegmatite coincides with a line of historic air core drilling, which crosscuts the Calypso prospect. The historical aircore drill holes were drilled in 2005 by LionOre Australia Pty Ltd. to test the source of aeromagnetic highs. The logging file from WAMEX (report A72917) has revealed that the drill holes intersected numerous granitoids and pegmatites within the regolith profile. A total of 17 drill holes were drilled on the historical aircore line for 541m. The single aircore line runs approximately northeast - southwest over a length of approximately 815m, with the drill holes spaced approximately 50m apart. The deepest hole was drilled to 76m and four of the drill holes ended in coarse grained or pegmatitic felsic rocks. The historical holes were assayed for a suite of gold and base metals but were not tested for lithium and pathfinder elements. Annonce • Nov 22
Forrestania Resources Limited Phase 1 Lithium Drilling Program Completed At Forrestania Forrestania Resources Limited announce the completion of its maiden lithium-focussed reverse circulation (RC) drilling at its Forrestania lithium project, in WA's Wheatbelt region. The company drilled 13 RC holes across three key prospects for 2,198m to test geochemical lithium anomalies and the extension of pegmatites intersected in historic drilling. 13 holes for 2,198m were completed as part of the Company's maiden lithium drill program. Three holes were drilled at the Bounty East prospect, seven at Bannon and three at Gemcutter. Drill holes were completed to a minimum depth of 100m. The RC drilling focussed on testing geochemical anomalies and the extension of historic pegmatite intercepts at Bounty East and Bannon. At Gemcutter, the drilling was designed to test an area between historical pegmatites recorded in RAB holes drilled at the Gem Mine and a diamond hole GCDD0001 located 150m to the east which intersected 2m @ 0.4% Li2O. The drilling also tested a gold target at the Gemcutter prospect. Favourable geology was intercepted as pegmatites at both Bounty East and Bannon prospects. A total of 16 intervals up to 3m thick were logged as pegmatite within five of the drill holes. Further drilling is planned at each of the prospects as additional approvals and results become available. POW approval is already in place at Bannon and further drilling will be considered, pending assay results. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director William Higgins was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 15
Forrestania Resources Provides an Update on Exploration Activities from its Eastern Goldfields Project Area Forrestania Resources provided an update on exploration activities from its Eastern Goldfields Project area. The Company's Eastern Goldfields Project is located north of Kalgoorlie around the gold mining districts at Leonora and Menzies. The project area comprises nine tenements that are strategically located over areas that the Company believes are highly prospective for large scale, multi commodity discoveries. After completing an aeromagnetic geophysical survey over the Goongarrie tenement earlier in the year, the Company is pleased to confirm exceptional results, with several new greenstone areas confirmed. Exceptional nickel and gold pathfinder results have also confirmed the strong exploration potential at Goongarrie (E29/1103). Additionally, the Company has applied for two exploration licences in the region (E29/1215 and E29/1216), immediately adjacent to the east of the Goongarrie project (E29/1103) and in close proximity to the recently granted Goongarrie North (E29/1158). Goongarrie (E29/1103): An interpretation of the geophysical, aeromagnetic data has been undertaken by Southern Geoscience Consultants (SGC), with the interpretation helping to increase the understanding of the local geology and delineating significant areas of greenstone within the Goongarrie project area. Additionally, the geophysical survey and geological interpretation by SGC has helped to identify a number of target areas for follow up exploration, with several highly magnetic units and zones of interpreted mafic/greenstone units. Exceptional results have also been received from geochemical samples collected at Goongarrie. These results coincide with key structural features that have been defined by the Company's aeromagnetic survey. The geochemical and geophysical survey results underpin a number of exciting and highly prospective areas for further work at Goongarrie. As a result of the Company's field reconnaissance trips, a significant number of rock chips with anomalously high levels of bismuth, silver and molybdenum have been sampled, as well as significant nickel, chromium, cobalt and gold from the soil programmes. These new results also complement anomalous gold geochemical assays from historic auger programmes, undertaken at the prospect in 2007 and 2011. Furthermore, an anomalous trend of nickel mineralisation (~1.2km) from the soil samples, with associated chromium has been confirmed from the Company's field programmes, completed in the south-west corner of Goongarrie. This anomalous trend also coincides with an interpreted zone of very strong magnetic intensity. An area that SGC have interpreted to be a high priority target. The Goongarrie region is a newly emerging nickel province, with the announcement by Resources & Energy Group (Magmatic nickel sulphides confirmed at East Menzies Springfield project 11 January 2022) and the proximity to Ardea Resources' Kalgoorlie Nickel Project (KNP) with a resource of 5.9Mt contained nickel and 384kt contained cobalt which includes the high-grade "Goongarrie Hub" ~15km away. Furthermore, the KNP has been awarded Major Project Status by the WA Government and is ranked #1 by the Geological Survey of Western Australia in terms of resource size at ~830Mt. As such, the anomalous nickel trend, recently defined by the Company, further increases the strong exploration potential at the Goongarrie project. The excellent geophysical survey results and the geological interpretation by SGC which has interpreted greenstone within Goongarrie and the adjacent ground, have given the Company the opportunity to identify other target areas. As a result, FRS has applied for two additional exploration licences (E29/1215 and E29/1216) to consolidate further, its position in the Eastern Goldfields. The Company has completed further reconnaissance trips to map and undertake additional rock chip and soil sampling at Goongarrie, with additional assays pending. Annonce • Nov 07
Forrestania Resources Limited Provides Forrestania Project Lithium Drilling Update Forrestania Resources Limited provided this exploration update for lithium focused drilling activities at the Forrestania Project. The Forrestania Project is the Company's flagship project and is prospective for significant lithium, gold and nickel discoveries. The Forrestania Project is located approximately 400km east of Perth in the broader goldfield's region of Western Australia. The current drill program at the Forrestania Project is the initial phase of lithium drilling planned to be undertaken at the Project. Drilling has been focused on the more advanced prospects largely identified by previous explorers and where relevant approvals have been received allowing drilling activities to commence. This initial drilling program has been completed at the Gem Mine (part of the Gemcutter prospect) and Bounty East. An initial phase of drilling at the Bannon prospect has also been included within the drill program (post the completion of a recent heritage survey at the Project). Further drilling is planned for each of these target areas as additional approvals and results become available. Following the completion of a recent heritage survey at the Forrestania Project, an initial phase of drilling has commenced at the Bannon prospect. Planned drilling at Bannon consists of seven reverse circulation holes for approximately 1,100m. Drilling is designed to test for the down dip extension of pegmatites intersected in historical drilling completed by previous explorers. Historical drilling demonstrated that these pegmatites host low levels of anomalous Li2O. Several previously untested geochemical anomalies located to the north are also planned to be drilled. Three holes (612m in total) have been completed as part of the Company's initial phase of lithium targeted drilling at Bounty East. Drilling was designed to target an identified "pegmatophile" geochemical anomaly and the projected down dip extension of pegmatites intersected in historical drilling. The Bounty East prospect is located ~6km to the east of the world class Earl Grey lithium Resource (189Mt @ 1.5% Li2O), which is operated by Covalent Lithium. The initial drill programme at Bounty East was undertaken along two drill lines where POW approval was granted. This POW provided access to two drill lines. With one drill line located to the north and one drill line located to the south of the "pegmatophile" geochemical anomaly. Significantly, an additional POW has recently been approved which will be used for the second phase of drilling at Bounty East. This new POW will provide access to the central part of the geochemical anomaly and facilitate follow up drilling. The completed drill holes at Bounty East have intersected several narrow (1-3m) pegmatite intercepts. These intercepts correspond to the down dip projections of pegmatites in historical drilling. The holes have been sampled for lithium and gold with the samples in the process of being dispatched to the laboratory for assay. Three holes (450m in total) have been completed as part of the Company's initial phase of lithium focused drilling at the Gem Mine prospect. Drilling was designed to test an area between historical pegmatite intersections recorded in RAB holes drilled at the Gem Mine and diamond hole GCDD0001 located ~150m to the east, which intersected 2m @ 0.4% Li2O. The holes have been sampled, with the samples in the process of being dispatched to the laboratory for lithium and gold assay. The Gem Mine target is part of the broader Gemcutter prospect. The Gemcutter prospect is the host to the Gem Mine and Giant Pegmatite prospects. A second phase of drilling is planned to be undertaken once further approvals are received. Additional target areas are located to the west and north of the Gem Mine where historical pegmatite intersections recorded within RAB drilling remain open in most directions. Follow up drilling is also planned for the Giant Pegmatite prospect (located to the north) where historical drilling intersected 34m @ 3.1% Li2O. These prospects can be drilled as approvals are received. Both the Bounty East and Bannon drill programs have been impacted by significant recent rainfall events within the Forrestania Project area. Rain has resulted in delays to the completion of the drilling program due to road closures and limited access for the field and drill crew to the project areas. Completed drill hole samples are currently in the process of being dispatched to Perth for lithium and gold analysis. Post the completion of the current drill program and receipt of assay results, planning will continue for the second phase of drilling at the Forrestania Project. The second phase of drilling is likely to focus on additional infill and follow up drilling at Bounty East (utilising the new POW), Bannon and the Gemcutter prospects (once approvals are received). Approval work streams continue to be progressed to facilitate access to additional drill sites. Annonce • Nov 03
Forrestania Resources Limited Announces Executive Changes Forrestania Resources Limited announced that the Company's Chief Executive Officer, Angus Thomson, has tendered his resignation. Mr. Thomson leaves the Company for personal reasons. Forrestania's Chairman, John Hannaford, has agreed to take on the CEO role on an interim basis whilst the Company searches for a replacement executive. Mr. Thomson leaves the Company in a strong financial position and with an active drillingprogram currently underway at the Forrestania lithium project. Annonce • Oct 22
Forrestania Resources Limited Provides Exploration Update for Field Work at the Forrestania Project Forrestania Resources Limited provided this exploration update for field work at the Forrestania Project. The Forrestania Project is the Company's project and is prospective for significant lithium, gold and nickel discoveries. The drilling contractor has mobilised to site with drilling planned to commence this weekend, at the high priority Bounty East and Gem Mine targets. Heritage Survey: A heritage survey has been successfully completed by the Ballardong traditional owners. The survey was undertaken at the South Iron Cap East, Bannon, Prince and Lady Lila prospects. No new sites were identified. The Company takes this opportunity to acknowledge the assistance provided by representatives from the Ballardong traditional owners who assisted with the recent heritage survey. Next Steps: The company is now focused on successfully completing its maiden, lithium focused, drill programs at Bounty East and the Gem Mine targets. Approvals workstreams also continue to be progressed on a number of fronts. Flora reports from recently completed surveys are pending. As these work streams continue to progress, the company anticipates further drill targets becoming available to drill. Annonce • Oct 07
Forrestania Resources Limited, Annual General Meeting, Nov 28, 2022 Forrestania Resources Limited, Annual General Meeting, Nov 28, 2022. Annonce • Sep 23
Forrestania Resources Limited Provides Update on Exploration Activities for its Flagship Forrestania Project Forrestania Resources Limited provided update on exploration activities for its flagship Forrestania Project. The Forrestania Project is located ~400km east of Perth in the broader goldfields region of Western Australia. The Forrestania Project is prospective for significant lithium, gold and nickel discoveries. Forrestania has secured the services of a high-quality drilling contractor to carry out maiden lithium focused drilling programs at the Forrestania Project. The drilling contractor is scheduled to mobilise to site in the second half of October. The initial drill program is planned to drill ~1,500m of RC drilling. With drilling planned to take place at the Bounty East and Gemcutter prospects. Final drill designs and site preparation works continue to be progressed ahead of drilling. The pending drilling at Bounty East and Gemcutter is the first of several planned drill programs at the Forrestania Project. Approvals workstreams continue to be progressed for lithium and gold targets with heritage and environmental surveys being undertaken as required. As these work streams are progressed additional targets are anticipated to become available for drilling. A heritage survey is scheduled for early in fourth quarter. The heritage survey is planned for the Bannon (Li), South Iron Cap East (Li), Lady Lila (Au) and Prince (Au) areas. A targeted flora survey has recently been undertaken at Bounty East and Gemcutter to support PoW applications and at South Iron Cap East to potential modify the PoW, the final flora report is currently pending. The geology team is now focused on finalising drill designs and preparing for site works ahead of the pending drilling. Annonce • Jul 12
Pegmatite Identified At New Mousetraps Prospect Bannon POW Approval and Heritage Update Forrestania Resources Limited provided an exploration update for its flagship Forrestania Project, prospective for lithium, gold and nickel. The Forrestania project is located approximately 400km east of Perth in the Goldfields-Esperance region of Western Australia. Progress includes the identification of a pegmatite outcrop at a new prospect called "Mousetraps", a Program of Work (POW) approval at the Bannon lithium prospect and heritage agreements. Mousetraps is located at the southern end of the Forrestania Project within the prospective "Goldilocks" corridor, a key focus area for lithium exploration. Forrestania announce that it has identified a new pegmatite at the Mousetraps prospect. The prospect is located on the western side of the southern portion of the Forrestania Project. The geology team recently completed general reconnaissance, mapping and soil sampling within tenement E77/591, with this work identifying the Mousetraps pegmatite outcrop. The prospect was identified by field work following up a priority area highlighted by the recently completed aeromagnetic survey flown over the southern portion of the Forrestania Project. The Mousetraps pegmatite outcrop currently represents the closest known western occurrence (within Forrestania tenure) to lithium bearing pegmatite intercepts at Ironcap South (50.6m @ 0.95%LiO2) Historical soil sampling data from the area (completed by previous explorers) is inconsistently spaced and coverage at the prospect and surrounding areas is not sufficient to consider the area effectively tested. The closest historical soil sample line is located approximately 160m to the north and samples are spaced approximately 100m apart. Spacing between the existing soil sample lines ranges from 200m to 1,600m. A soil sampling program based on a 200m x 100m grid, is being planned. This sampling program will provide geochemical data for the broader Mousetraps prospect area and the identified pegmatite outcrop. Several pegmatites have been identified in the southern portion of the Forrestania Project at South Iron Cap East, Bannon, Ironcap South (held by IGO through the recent takeover of Western Areas) and now Mousetraps. It is becoming evident that the LCT (lithium-caesium-tantalum) pegmatite focused exploration potential of the southern portion of the Forrestania Project continues to grow and evolve as exploration progresses. Annonce • Jun 14
Forrestania Resources Limited Announces Strong Gold Results Continue At Black Prince Forrestania Resources Limited advised that it has received more strong assay results from field work completed at the Black Prince gold prospect. Black Prince is a high priority gold target located within the central portion of the Company's Forrestania Project. The Forrestania Project is located approximately ~400km east of Perth in the Goldfields Esperance region of Western Australia. The high-grade Black Prince rock chips of 6.1g/t (FR000191), 5.6g/t (FR000145) and 4.5g/t (FR000129) reported continue to demonstrate the strong potential of the prospect for potentially significant gold discoveries on tenement E77/2637. The Black Prince prospect contains very high-grade gold occurrences, with historic workings producing ~125t of ore @ 16.9g/t. A number of smaller historical workings also occur within the tenement including Lady Lyons (historical production figures are unavailable). Black Prince is located ~3.6km to the south of the historical Great Southern mining centre. The Great Southern Mine recorded historic production of ~934t of ore @ 7.1g/t and runs parallel to the northwest orientated structures that have been identified at Black Prince. The results reported from field work undertaken at the prospect continues to demonstrate and confirm a number of key exploration criteria at Black Prince, including; high grade rock chips up to 28.2g/t; identification of local and regional interpreted structures from geophysical surveys that align with the occurrence of gold anomalism; favourable geological setting; high grade historical production. The results continue to demonstrate the strong correlation between surface gold anomalism and the interpreted faults /structures identified from the recently completed aeromagnetic survey. This gives the Company confidence going forward as the association between the occurrence of gold and strong structural features in favourable geology is a well-known model for gold exploration within the Goldfields region of WA. In addition, an environmental survey has been completed, and a Programme of Work ("POW") application was recently approved by the Department of Mines, Industry Regulation and Safety ("DMIRS"). Planning for an initial phase of air core drilling and heritage survey are underway. Forrestania remains active on several fronts as it continues to ramp up both its lithium and gold exploration programs at the Forrestania Project. At the Black Prince prospect, planning for an initial phase of air core drilling and heritage survey is underway. Annonce • Jun 11
Forrestania Resources Limited Announces South Iron Cap East Lithium POW Approval; Exploration Programs Advancing Forrestania Resources Limited provided an update on exploration activities, and approvals, at its Forrestania Project, prospective for lithium, gold and nickel discoveries, located in the Southern Cross region, in the south eastern corner of Western Australia. Forrestania advised that planning is underway for an initial drill program at the high priority South Iron Cap East lithium prospect following POW approval. In addition, a further infill soil sampling program is planned to infill the area south east of the recently identified pegmatite outcrop. The South Iron Cap East prospect is located approximately 1km from a previous drill result reported by Western Areas Limited of 50.6m @ 0.95% Li2O which is a significant result and demonstrates the prospectivity of the area. At the broader Forrestania Project, exploration is progressing with the field crew continuing to undertake resampling of historical drill holes and infill soil sampling programs for lithium and gold. Results continue to confirm the highly prospective nature of the Forrestania Project for potential lithium and gold discoveries, with the prospectivity for nickel yet to be adequately assessed. Forrestania's lithium targets continue to meet several key targeting criteria which are aligned to the Company's exploration model. To this end the Company's lithium focused geochemical programs are predominantly focused on the identification of areas of pathfinder element anomalism such as tantalum, caesium, rubidium and beryllium. These elements are typically more resistant to the influences of weathering than lithium (which may be depleted in a well-developed weathering profile). The depletion of lithium in the weathered profile can be seen at deposits such as the Earl Grey (Li), located just 6 kilometres from Forrestania's Bounty East lithium prospect and also from historical drilling at the Company's Gem Cutter prospect. Lithium in weathered zone The exploration model is further supported by the results from historical drill hole GPRC06 which was drilled at the Giant Pegmatite in 2016 and returned a down hole intercept of 33m @ 3.2% Li2O. The true thickness of the pegmatite was between 5-10m thick, however the down dip orientation of the intercept provided an opportunity to examine the effect of weathering on a pegmatite known to be mineralised. As is shown on Figure 2 and Image 1 the upper part of hole GPRC06 drilled through the weathered profile and is comparatively enriched in pathfinder elements while being depleted in lithium until fresh pegmatite is intersected (below the influence of weathering). The influence of internal zonation within the pegmatite on lithium distribution is unknow. Forrestania has recently received constructive feedback from the Department of Mines, Industry Regulation and Safety (DMIRS) which has helped to clarify their requirements when exploring in areas of increased environmental importance such as the broader Forrestania area which contains a high level of floral diversity. Based on this feedback, the Company has updated several existing POW applications to reduce the area of disturbance for exploration to a minimum. Going forward, the Company will adopt this approach to facilitate the approvals process and allow for improved internal planning of future applications. The Company believes that the recently received South Iron Cap East approval is an example of the revised approach helping to facilitate a timely approval. The Company is continuing its process of completing several environmental surveys and desktop reviews at the Forrestania Project. Surveys have been completed at both lithium and gold prospects. Bounty East (Li) prospect - an initial environmental review has been completed and a further targeted environmental survey is progressing with results currently pending. Once available the report will be provided to DMIRS for review. Gem Cutter (Li) prospect, which hosts the Gem Mine and Giant Pegmatite an environmental survey has been completed and feedback from DMIRS is pending. Lady Lila (Au) prospect - an initial environmental survey has been completed and reviewed by DMIRS who have advised that an additional targeted survey is required. Internal discussions are underway regarding the appropriate timing for the survey. Black Prince (Au) prospect - an environmental survey has been completed and POW approval granted. The Company has located a number of previously completed targeted environmental surveys for prospects in the southern portion of the Forrestania Project around South Iron Cap East and Bannon. Where appropriate, Forrestania can seek to use these surveys to support approvals. The Company has also engaged the services of a specialist environmental consultancy to assist with environmental surveys and approvals advice. Historical heritage surveys have also been located for areas at South Iron Cap East (Li), Bannon (Li) and Great Southern (Au). A heritage agreement (with the Ballardong People) for the Black Prince (Au) tenement is in place, and a heritage survey is likely to be required prior to drilling. The requirement and timing for additional heritage surveys /agreements at the broader Forrestania Project (including South Iron Cap East) is being assessed. The Company remains focused on progressing exploration at the Forrestania Project and securing the relevant approvals to support drilling programs at its high priority lithium and gold prospects. The next steps include: Planning for a maiden drill program at the South Iron Cap East (Li) prospect and Black Prince (Au) prospect Ongoing resampling of historical drill holes and infill soil sampling to increase confidence on existing geochemical anomalies and /or define new areas of interest (Li & Au). Further infill soil sampling at South Iron Cap East targeting the area southeast of the recently identified outcropping pegmatite Scheduling and planning of a follow up targeted environmental survey at Lady Lila (Au) Ongoing environmental /heritage surveys as required to secure POW approvals (Li & Au). It continues to be an time for Forrestania as the Company builds momentum on both its field work and approvals processes ahead of pending drilling programs. Annonce • May 23
Forrestania Resources Limited Provides Lithium Exploration Update Forrestania Resources Limited provided this exploration update for field work undertaken at the South Iron Cap East and Bannon prospects. South Iron Cap East and Bannon are part of the Company's flagship Forrestania Project which is prospective for significant lithium, gold and nickel discoveries. Both prospects are located at the southern end of the Forrestania Project and sit within the prospective "Goldilocks" corridor. Bannon: At Bannon a review of historical drilling completed by previous explorers in 2018, identified a number of intervals that did not appear to have been assayed. The 2018 drilling program was successful, in that it intersected large bodies of pegmatite (up to 64m in true thickness) and despite not being ore grade, demonstrated zones of anomalous lithium and provided some indication of the pegmatites becoming specialised. The sampling was undertaken to improve the Company's understanding of the geochemistry in this area and help inform drill targeting at the prospect. The sampling program collected 385 samples taken from various drill holes. Samples were collected as composites with a composite length from 2m to 5m. The results reinforce previous indications of the pegmatites becoming specialised within the prospect. Notable results from the recent sampling include: 4m @ 0.12% Li2O and 10.7 ppm Ta from 32m in FFRC0013 - Favourable pathfinder elements within drilling with Caesium values up to 269.6ppm, Beryllium up to 97.5ppm, Rubidium up to 879.1ppm, Sn up to 82.5ppm, Nb up to 97.8ppm and Ta over 100ppm. Numerous samples in the new and existing dataset have K/Rb ratios less than 25, which is considered the optimal range for specialised pegmatites. A review of the historical drilling completed in 2018 by previous explorers highlighted the following, existing results: FFRC0012: 2m @ 0.10% Li2O from 111m - FFRC0013: 5m @ 0.11% Li2O from 60m - FFRC0017: 2m @ 0.13% Li2O from 92m - FFRC0018: 2m @ 0.10% Li2O from 77m - FFRC0018: 3m @ 0.10% Li2O from 92m. Given the significant thickness of the pegmatite intersected in the historical drilling and indications of the pegmatite becoming specialised, Forrestania plans to drill test the lateral extents of the pegmatite and test for zones that may show an increasing level of fractionation and specialisation. Next Steps: Forrestania remains active on several fronts as the company continue to ramp up the company's field work programs and continue prospect reviews. Follow up work is being planned or ongoing with mapping, resampling, and soil sample programs targeting both the company's lithium and gold prospects at the Forrestania Project. The company continues to progress POW approvals with the relevant government departments, which are required prior to drilling. It continues to be an exciting time for Forrestania and its shareholders as the company begin to explore these high priority areas and the company look forward to keeping the company's shareholders updated as the company's work programs continue to build momentum. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director William Higgins was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 12
Forrestania Resources Limited Announces Mapping Identifies Surface Pegmatite Forrestania Resources Limited (Forrestania or the Company) provided this exploration update for field work completed at the South Iron Cap East prospect. South Iron Cap East is part of the Company's Forrestania Project which is prospective for significant lithium, gold and nickel discoveries. The South Iron Cap East prospect is located at the southern end of the Forrestania Project. South Iron Cap East is located within the prospective "Goldilocks" corridor, a key focus area for lithium exploration. The geology team has completed a reconnaissance field trip to the South Iron Cap East prospect undertaking mapping and infill soil sampling. Mapping has identified a pegmatite outcrop located within the footprint of a previously identified tantalum soil anomaly. The geology team has recently completed a field trip to the South Iron Cap East prospect undertaking general reconnaissance, mapping and infill soil sampling. The Company identified South Iron Cap East as a high priority lithium prospect from the Company's ongoing review of the project database and historical exploration work. The review identified that the prospect was located within the highly prospective "Goldilocks" exploration corridor and coincided with a tantalum soil anomaly. This tantalum soil anomaly was based on broad sample lines 800m apart. The recently completed mapping and soil sampling has identified an outcropping pegmatite within the tenement (E77/2346). Importantly the pegmatite is located within the footprint of the historical tantalum soil anomaly. The pegmatite is located close to the adjoining tenement boundary with Western Areas. This is significant due to its proximity to previously released Western Areas drill results from their South Iron Cap prospect which is 1km to the west, where significant lithium mineralisation has been intersected in drilling with a best drill result of 50.6m @ 0.95% LiO2. Mapping at the Company's South Iron Cap East prospect has identified the pegmatite as being highly weathered with most minerals completely altered to white clay. Defining features are coarse quartz interlocked with, visible coarse muscovite and relict pegmatitic textures. Several samples have been collected for assay which will assist in determining whether the pegmatite is considered specialised. This pegmatite has not been previously identified by the company's review of the available database for the prospect area. An infill soil sampling program was also undertaken at the South Iron Cap East prospect. The infill program was undertaken to reduce the historical soil sample spacing from 800m x 100m to 200m by 100m. The infill sampling will provide increased sample density and provide further information on the distribution and extent of the tantalum anomaly. An existing POW application covers the area and is currently awaiting government approval. Historical drilling at the prospect is limited to eight RAB holes, with a maximum depth of 39m. These holes were drilled in 2006 and designed to test for copper and PGE's. They are not considered an effective test of the tantalum soil anomaly and or the potential for deeper-seated discoveries. Forrestania remains active on several fronts as continue to ramp up field work programs and continue prospect reviews. Early reconnaissance work is being planned or ongoing with mapping, resampling, and soil sample programs targeting both lithium and gold prospects at the Forrestania Project. It continues to be an time for Forrestania and its shareholders as begin to explore these high priority areas and look forward to keeping shareholders updated as work programs continue to build momentum. Highlights: Pegmatite outcrop located at South Iron Cap East prospect. Pegmatite is located within the footprint of an existing Tantalum soil anomaly. Initial program of infill soil sampling undertaken. Fieldwork continues to build momentum and highlights the potential for significant discoveries at the Forrestania Project. Annonce • Feb 24
Forrestania Resources Limited Provides Update on High Grade Results At Lady Lila & Black Prince Option Forrestania Resources Limited announce the 1m assay results from its maiden drilling programme at the Lady Lila project. Lady Lila is located ~17km south-west of the historic +1Moz Bounty Gold Mine. Lady Lila has an Inferred JORC mineral resource of 541,000 tonnes grading at 1.38g/t, for 24,000oz of gold. A host of other historic pits with JORC compliant Au resources are also located within the area. Holes LLRC007 and LLRC008 have successfully extended the strike of mineralisation by ~50m to the south. With all holes drilled in the programme confirming that mineralisation extends at depth and remains open except for LLRC011 which did not reach target depth. The maiden drill programme has confirmed the presence of shallow supergene mineralisation over approx. 300m of strike with additional high-grade intersections at depth including: LLRC009 10.82g/t Au from 112-113m, LLRC003 6.90g/t Au from 101-102m, LLRC004 4.42g/t Au from 119-120m, LLRC010 2.65g/t Au from 118-119m. Annonce • Feb 01
Forrestania Resources Advises Exploration Licence E29/1103 (Goongarrie) Granted at the Leonora Project Forrestania Resources advised that exploration licence E29/1103 (Goongarrie) has been granted at the company's Leonora Project. In addition, a further exploration licence application has been submitted (E29/1158), directly north of the Goongarrie tenement complementing the Company's strategic landholding in the eastern goldfields, now totalling over 880km2. The Goongarrie and Goongarrie North prospects are part of the Company's strategic focus on granite-hosted gold in and around the eastern goldfields with further field work already planned. With the recent exploration successes for both Resources and Energy Group Limited(ASX:REZ) and Kingwest Resources Limited on tenements adjacent to Goongarrie, the Company believes the prospectivity and potential of this un-explored area has been significantly enhanced. REZ's East Menzies Gold Project has been exceptionally successful with the first gold pour from Granny Venn taking place in October1. Their Gigante Grande discovery (just 1.2km to the west of Goongarrie North) continues to return high grade gold intercepts including 27m @ 3.7g/t from drilling completed in May2 2021. Kingwest Resources have also recently announced that the Sir Laurence discovery has doubled to over 2km and is open in all directions3; with further regional drilling intersecting 8m @ 5g/t approximately 1.5km west of Sir Laurence, highlighting the potential for this area. Annonce • Jan 12
Forrestania Resources Limited Provides an Update on Its Lithium Prospects At Its 100% Owned Forrestania Project Forrestania Resources Limited provided an update on its lithium prospects at its 100% owned Forrestania project. After a review of previous exploration work by the Company's specialist lithium consultant, Dr. Leigh Bettenay, a number of significant interpretations have been made at the Mt Holland/Bounty East prospect (E77/2345). In late 2017 and early 2018, Marindi Metals/Firefly Resources drilled 306 air core holes for 8,813m and 35 RC holes for 3,750m in the area shown in Figure 11. The geochemical results from this drilling programme have been reviewed and results of this review were announced by the Company on 2nd December 2021 (ASX announcement Mt Holland pegmatite review) and confirm the strong prospectivity and potential of the Mt Holland/Bounty East area. The Marindi Metals/Firefly Resources geological logging suggests that the holes located at the eastern extent of the drilling intersected predominantly greenstones. Logged rock types include basalts and schists, with some pegmatites. This potentially moves the "conventional" extent of the greenstone belt by approximately 2.5km further east. The fact that the greenstone/granite contact extends further east than previously thought has major implications for the lithium exploration potential. The "ideal" distance from a granite/greenstone contact is "conventionally" thought to be between one to four kilometres - the "Goldilocks Zone". The Company's tenement portfolio includes approximately 100km of strike extent along the Forrestania granite/greenstone contact. Annonce • Dec 16
Forrestania Resources Limited Announces Promising Results from Maiden Drilling Program At Lady Lila Forrestania Resources Limited announced the results of its maiden drilling programme. The Lady Lila drilling programme was completed in early November with the aim of testing the down dip extension of the Lady Lila resource, as well as the southern extension of the mineralization. Lady Lila is located 17km south-west of the historic +1Moz Bounty Gold Mine and has an inferred mineral resource of 541,000 tonnes grading at 1.38g/t, for 24,000oz of gold. The existing inferred resource at Lady Lila was constructed in 2016 in accordance with JORC 2012 guidelines, using holes drilled before 1999. Around 85% of the drilling is of low confidence, either RAB or from the pre-1999 era and averages 60m depth. The company's programme was very much an exploration/orientation opportunity and the results have been extremely encouraging. 14 RC holes were completed in the most recent campaign for a total of 1,823m in early November. An independent environmental survey was carried out prior to drilling in order to gain a base-line understanding of the flora species in the drilling area. The FRS drilling programme aimed to test the sub vertical structure that has previously been drilled by a number of explorers; most recently in 2018 by Classic Resources who intersected strong mineralization, including FLLRC010 15m at 2.1g/t. Previous explorers had failed to adequately test the southern extent of the mineralization; however, the company's drilling programme has successfully demonstrated that the structure remains open, at least a further 50m along strike, to the south. The company's first drill hole LLRC007 intersected 8m at 1.1g/t to confirm the mineralization to the south. The drilling has proved that the mineralized structure continues at depth and the company plans to further test this structure in the new year. The programme was designed with 4m composite sampling using aqua regia digest; the 1m samples from the mineralized intervals will be submitted for fire assay shortly, with results expected in 8-10 weeks. The company has submitted several Programme of Work (POWs) applications in order to further advance the project and has already completed a spring flora survey of the wider Lady Lila tenement areas to enable these POW's to be approved. After approval has been granted for further drilling, the company will aim to further test the southern extension of the mineralization, the northern extension as well as the down dip mineralized structure. Annonce • Oct 02
Forrestania Resources Limited (ASX:FRS) acquired Forrestania Gold Project from Firefly Resources Limited (ASX:FFR) for AUD 1.8 million. Forrestania Resources Limited (ASX:FRS) acquired Forrestania Gold Project from Firefly Resources Limited (ASX:FFR) for AUD 1.8 million on September 30, 2021. As per terms, consideration of AUD 1.25 million worth of shares in Forrestania Resources plus AUD 50,000 cash, with a further milestone consideration of AUD 0.5 million in shares payable on the definition of a JORC 2012 Resource of at least 250,000 oz of gold at over 2g/t Au. The consideration shares are escrowed for a period of 12 months from the date of issue. All consideration received from the sale of the Forrestania Gold Project will be transferred or assigned to Firetail Resources Limited, a wholly-owned subsidiary of Firefly, in accordance with the demerger agreements executed by Firefly and Gascoyne Resources Limited.
Forrestania Resources Limited (ASX:FRS) completed the acquisition of Forrestania Gold Project from Firefly Resources Limited (ASX:FFR) on September 30, 2021. Annonce • Sep 30
Forrestania Resources Limited has completed an IPO in the amount of AUD 5 million. Forrestania Resources Limited has completed an IPO in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012 
