Australia's Forrestania Resources hits 3-year high on project, stake investments

Forrestania Resources

23/09/2025 05:23

** Shares of Forrestania Resources FRS.AX rise as much as 14.6% to A$0.315, highest level since May 2022

** Gold explorer agrees to subscribe to shares of Kula Gold KGD.AX worth nearly A$1.9 million ($1.25 million), at issue price of A$2.2 per share, amounting to a 7.37% stake in Kula Gold

** Chairman David Geraghty says "We're creating strong bonds with gold companies in our area of influence, and we'll continue to consolidate high-quality gold assets in the Southern Cross region."

** Separately, co to buy Westonia project in Western Australia from Kula Gold for cash settlement of A$500,000 and further A$1 million in cash on early stage exploration

** Around 2.3 mln shares traded so far, 1.8x 30-day average

** YTD, FRS up 2,078.6%

($1 = 1.5191 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))