Forrestania Resources Limited (ASX: FRS) has announced the acquisition of a 100% interest in four granted exploration licences adjacent to the Edna May Gold Mine, located in Westonia, Southern Cross region of Western Australia. Forrestania Resources is an Australian resources company exploring for gold, copper, and lithium in the Forrestania, Southern Cross and Eastern Goldfields regions of Western Australia. This acquisition marks a significant step in the company’s strategy to consolidate high-quality gold assets.
The tenements acquired from Kula Gold Ltd (ASX: KGD) include E77/2756, E77/2766, E77/3234 and E77/3237. The consideration for the acquisition comprises a $500,000 cash payment upon settlement, and a further $1,000,000 cash payment upon reporting an Inferred Mineral Resource in accordance with the JORC of 100,000 ounces of gold or equivalent.
Completion of the acquisition is conditional upon several factors, including satisfactory due diligence by Forrestania Resources on the tenements, necessary regulatory approvals, third-party consents, and the execution of deeds of assignment and assumption. Settlement is anticipated to occur on or before 12 October 2025.
David Geraghty, Chairman of Forrestania Resources, commented that the acquisition aligns with the company’s vision to become a major gold player in the Southern Cross region. The announcement has been authorised for release by the Board of Forrestania Resources.
