The latest announcement is out from Forrestania Resources Limited ( (AU:FRS) ).
Forrestania Resources Limited has successfully secured firm commitments for a placement of 20,036,400 shares at $0.025 per share, raising $500,910 before costs. This placement, completed at a 29.7% premium to the 10-day VWAP, reflects strong investor confidence in the company’s gold exploration projects. The funds will be used for drilling programs at the Lady Lila prospect, where significant mineral resources have been identified, and for further exploration at the Ada Ann prospect. The placement highlights the company’s strategic focus on expanding its gold exploration activities and strengthening its market position.
More about Forrestania Resources Limited
Forrestania Resources Limited is a company engaged in the exploration and development of gold projects. Its primary focus is on the Lady Lila and Bonnie Vale prospects within the Forrestania region, where it aims to expand its mineral resource base through targeted drilling and exploration activities.
YTD Price Performance: 130.0%
Average Trading Volume: 2,194,304
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$6.04M
Learn more about FRS stock on TipRanks’ Stock Analysis page.
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