Forrestania acquires Edna May Gold Project in $215m deal

Forrestania Resources has completed the acquisition of the Edna May Gold Project from Ramelius Resources in a deal valued at $215m (A$300m).

The companies announced the binding agreement for the acquisition in June 2026.

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The acquisition marks a significant expansion for Forrestania, which now controls two major processing hubs in Western Australia (WA).

The transaction included the complete takeover of Edna May Operations and Tampia Operations, alongside Ramelius’ stakes in various exploration licences and related contractual rights within the Edna May Gold Project.

Forrestania’s purchase comprised A$210m in cash and the issuance of 225 million shares valued at A$90m to Ramelius.

This strategic move enables Forrestania to operate both the Lake Johnston and Edna May processing facilities. It is expected to enhance the company’s processing capabilities and solidify its presence in the region.

In addition to completing the acquisition, Forrestania has concluded the second tranche of its A$310m placement, generating approximately A$215m before costs.

This fundraising initiative received approval from shareholders and supports the company’s growth strategy.

Forrestania Resources executive chairman David Geraghty said: “The completion of the Edna May acquisition is a transformational milestone for Forrestania and delivers on the strategy we outlined to shareholders earlier this year.

“Together with Lake Johnston, Forrestania is now uniquely positioned with a dual processing hub strategy capable of supporting a targeted combined milling capacity of more than six million tonnes per annum following refurbishment and recommissioning activities.

“I would like to thank our shareholders for their strong support of the transaction and capital raising, as well as welcome Ramelius as a significant shareholder in Forrestania.”