Australia's Kula Gold hits nearly 2-year high on Westonia project sale

Forrestania Resources

23/09/2025 02:28

** Shares of Kula Gold KGD.AX rise as much as 20.8% to A$0.029, their highest level since November 30, 2023

** The mineral explorer announces divestment of Westonia project to Forrestania Resources FRS.AX in order to advance its Mt Palmer gold project

** Deal includes A$500,000 ($329,750) in cash, others

** In a separate statement, co announces placement of A$2.5 million at an issue price of 2.2 AU cents per share

** About 20.8 million shares change hands, 2.9 times the 30-day avg

** Stock is up 376.5% YTD, including the session's moves

($1 = 1.5163 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))