Announcement • Jul 03
Forrestania Resources Limited has filed a Follow-on Equity Offering. Forrestania Resources Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Announcement • Jul 01
Forrestania Resources Limited (ASX:FRS) agreed to acquire Edna May Operations Pty Limited from Ramelius Operations Pty Ltd for AUD 300 million. Forrestania Resources Limited (ASX:FRS) agreed to acquire Edna May Operations Pty Limited from Ramelius Operations Pty Ltd for AUD 300 million on June 29, 2026. A cash consideration of AUD 200 million will be paid by Forrestania Resources Limited. The consideration consists of common equity of Forrestania Resources Limited having a value of AUD 100 million to be issued for common equity of Edna May Operations Pty Limited. As part of consideration, AUD 300 million is paid towards common equity of Edna May Operations Pty Limited.
The transaction is subject to obtaining financing of AUD 200 million, approval of offer by acquirer shareholders and third party approval needed. The expected completion of the transaction is July 1, 2026 to September 30, 2026.
Azure Capital Pty Ltd. acted as financial advisor for Ramelius Operations Pty Ltd. Gilbert and Tobin acted as legal advisor for Ramelius Operations Pty Ltd. Breakeven Date Change • Jun 30
Forecast breakeven date pushed back to 2027 The analyst covering Forrestania Resources previously expected the company to break even in 2026. New forecast suggests the company will make a profit of AU$109.5m in 2027. Average annual earnings growth of 113% is required to achieve expected profit on schedule. Announcement • Jun 09
Forrestania Resources Limited (ASX:FRS) entered into a binding Takeover Implementation Deed to acquire Zenith Minerals Limited (ASX:ZNC) for AUD 71.9 million. Forrestania Resources Limited (ASX:FRS) entered into a binding Takeover Implementation Deed to acquire Zenith Minerals Limited (ASX:ZNC) for AUD 71.9 million on June 8, 2026. Under the terms of the TID, Forrestania will make an off-market takeover bid to acquire all Zenith shares on issue. Zenith shareholders will receive 1 new Forrestania share for every 4.3 Zenith shares held. The TID includes customary break fee arrangements, comprising a break fee of AUD 0.75 million payable by Zenith and a reverse break fee of AUD 0.625 million payable by Forrestania, in each case in certain circumstances.
The transaction is subject to approval of merger agreement by target board and approval of offer by target shareholders. The deal has been approved by the board.
Argonaut Limited acted as financial advisor for Zenith Minerals Limited. Hamilton Locke Pty Ltd acted as legal advisor for Zenith Minerals Limited. Bell Potter Securities Limited acted as financial advisor for Forrestania Resources Limited. Steinepreis Paganin acted as legal advisor for Forrestania Resources Limited. Board Change • May 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Non Executive Director Daniel Raihani is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • 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.