Forrestania Secures $300M Gold Hub Deal | Australia News

Forrestania Resources just landed a $300 million funding boost to finalize its blockbuster acquisition of the Edna May gold hub in WA, transforming the company from explorer to serious gold developer. Issuing 775 million new shares at 40 cents each — just below market price — the deal attracted strong investor demand, even prompting the chairman to invest $1 million personally. With major shareholders and global investors backing the move, terms were sweetened for seller Ramelius Resources, including more cash and fewer shares. The cash will power up Edna May’s processing plant and upgrade Lake Johnston, creating a combined 6M tonnes annual processing capacity. First tranche of $95M due by July 8, with remaining $205M needing shareholder approval in August to close by September — positioning Forrestania for major gold market dominance. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8f910a946a5c9f4e