Australia's Ramelius Resources jumps on gold project sale plans

Forrestania Resources

29/06/2026 01:55

** Shares of Australia's Ramelius Resources RMS.AX jump as much as 4.7% to A$3.14, gaining the most since June 17
** Gold miner said it will sell its Edna May Gold project to Forrestania Resources FRS.AX for A$300 million ($206.55 million)
** Forrestania will satisfy consideration via payment of A$200 mln in cash and an issue of A$100 mln shares; trading in FRS shares currently halted  
** RMS down more than 25% YTD 
     
($1 = 1.4524 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)
((Shruti.Agarwal@thomsonreuters.com;))