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Ramelius Resources Completes AU$300 Million Sale of Western Australia Gold Hub to Forrestania Resources

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Ramelius Resources (ASX:RMS) completed the sale of the Edna May Gold Hub in Western Australia to Forrestania Resources (ASX:FRS) for AU$300 million, according to a Monday filing with the Australian bourse.

The consideration comprises AU$210 million in cash, including the AU$20 million deposit received on execution of the share and asset purchase agreement, and AU$90 million in Forrestania shares, the filing said.

The company now holds roughly 9.4% of Forrestania's issued capital, per the filing.

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