NewsMV
The A$300m acquisition of the Edna May Gold Project has closed, giving Forrestania Resources a second major processing hub in Western Australia alongside its existing Lake Johnston facility, purchased from Ramelius Resources.
The acquisition, agreed under a binding contract in June 2026, transferred Edna May Operations, Tampia Operations, and Ramelius' stakes in exploration licences and related contractual rights within the Edna May project area.
Forrestania paid A$210m in cash and issued 225 million shares valued at A$90m to Ramelius, a structure that leaves Ramelius as a significant shareholder in the company it sold to.
The funding picture The cash component was backed by Forrestania's A$310m placement, which completed its second and final tranche as the acquisition closed.
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