Forrestania Resources Ramps Up Gold Exploration

Forrestania Resources Limited (AU:FRS) has released an update.

Forrestania Resources Limited is set to boost its exploration endeavors at the Bonnie Vale Gold Project by raising A$950,000 through a mix of a single tranche Placement and a Share Purchase Plan. The funding, derived from the issuance of new shares, aims to capitalize on prior high-grade drilling results and is expected to offer re-rate opportunities in a bullish gold market. The capital raise is presented at a discount, with the Placement comprising 48.5 million new shares and the Share Purchase Plan available to existing shareholders in Australia and New Zealand, keen to invest without brokerage fees.

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