Australia's Forrestania Resources surges on premium placement

Forrestania Resources

12/03/2025 01:01

** Shares of Forrestania Resources FRS.AX rise 17.4% to A$0.027, hitting their highest level since Aug. 6, 2024

** Mineral explorer receives firm commitments to raise A$500,910 ($315,122.48) via a placement

** Placement issue price at A$0.025 per share, an 8.7% premium to stock's last close

** Funds will be used to fund drilling programs at co's Forrestania gold, lithium and nickel project in Western Australia

** Shares rose as much as 21.7% to A$0.028 in early trade, their largest intraday pct gain since late February

** Stock up 92.9% YTD, including current session's moves

($1 = 1.5896 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com))