63 stories mentioning ASX:FRSUpdated 13h ago
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Forrestania Resources (ASX:FRS) appointed Tom Plant as chief financial officer, effective Jan. 5, 2027, according to a Monday Australian bourse filing.Plant most recently served as CFO of Australian Vanadium (ASX:AVL), the filing added.
Forrestania Resources (ASX:FRS) executed a five-year master services agreement as well as an ore purchase agreement with MEGA Resources, according to a Monday Australian bourse filing.The master services agreement sets up a framework for the provision of future open-pit mining, drill and blast, mining support, and related services across Forrestania's asset portfolio.The ore purchase agreement provides Forrestania with the right to purchase and process up to 2 million tonnes of ore over 24 months, for processing through either the Lake Johnston or Edna May processing facilities.The agreement provides for campaign-based processing arrangements with parcel sizes ranging from 50,000 tonnes to 150,000 tonnes, subject to agreed grade, metallurgical, and acceptance criteria. Payments to MEGA Resources will be determined under a commercial pricing formula linked to a baseline of $155 per tonne at an ore grade of 1.43 grams per tonne of gold and 91% processing recovery.
Australian shares are poised to rise on Wednesday, tracking a rally in global oil prices after attacks by Iran-backed Houthis on Saudi energy facilities stoked fears of wider Middle East supply disruptions.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.6%, 0.3%, and 1.2%, respectively.In the macroeconomy, investors are eyeing the consumer inflation expectations report on Thursday.In corporate news, Forrestania Resources (ASX:FRS) advanced its Lake Johnston and Edna May processing hub strategy, securing laboratory, haulage and five-year sodium cyanide supply agreements while ordering critical mill liners and processing consumables ahead of the Edna May restart.Austal (ASX:ASB) received a non-binding offer from Florida-based private investment firm Wildcat Infrastructure to acquire its US business, with the bid valuing Austal USA at $1.25 billion to $1.35 billion, The Australian's DataRoom reported Wednesday.Australia's benchmark index fell 1%, or 90.1 points, to close at 8,920.80 on Tuesday.
Forrestania Resources (ASX:FRS) advanced its Lake Johnston and Edna May processing hub strategy, securing laboratory, haulage and five-year sodium cyanide supply agreements while ordering critical mill liners and processing consumables ahead of the Edna May restart, according to a Wednesday Australian bourse filing.The company signed a laboratory services framework agreement with SGS Australia and a haulage agreement with Campbell Gold Haulage to support ore transportation to both processing hubs and potential regional sourcing, per the filing.The company secured a five-year sodium cyanide supply agreement with Orica (ASX:ORI) for Lake Johnston, covering around 1,000 tonnes annually, with a minimum commitment of 5,000 tonnes and technical support, the filing said.The company also entered into an ore purchase agreement with First Au (ASX:FAU) to process up to 2 million tonnes of third-party ore over 24 months, supporting campaign-based processing at either facility and improving utilization of its processing infrastructure, the filing added.
Forrestania Resources (ASX:FRS) said the voting power of entities affiliated with billionaire Kerry Matthew Stokes fell to 8.6% from 10.4% as of Sept. 4, according to a Tuesday Australian bourse filing.The entities included Wroxby, Australian Capital Equity, ACE Group entities, Kemast Investments, Tiberius (Seven Investments), Clabon, and Ashblue Holdings. They hold votes of 205.9 million in the firm's ordinary shares as of Sept. 4.Forrestania's shares rose 2% in recent trading on Tuesday.
Forrestania Resources (ASX:FRS) lodged its third supplementary bidder's statement for its takeover of Zenith Minerals (ASX:ZNC), extending the offer to Sept. 21 as the company navigates ongoing Takeovers Panel proceedings, according to an Australian bourse filing on Monday after market hours.The company currently holds a 58.14% relevant interest in Zenith.The company said the extension was made in compliance with interim Panel orders requiring it to keep the offer open pending the outcome of the proceedings, while preventing it from processing acceptances or declaring the offer free of defeating conditions, per the filing.The Panel declared the circumstances surrounding the offer unacceptable on Aug. 27, with the company's application for a review still pending as of Monday and no final orders having been made.The company also confirmed the completion of its AU$300 million acquisition of the Edna May Gold Project from Ramelius Resources (ASX:RMS) on Sept. 4, comprising the Edna May mill, associated infrastructure and a 945,000 ounce joint ore reserves committee mineral resource.The company raised AU$310 million at AU$0.40 a share to fund the acquisition, adding gold-processing capacity and strengthening its position around Zenith's Consolidated Dulcie Project.Based on the company's Sept. 4 closing price of AU$0.42, the one-for-4.3 scrip offer valued each Zenith share at AU$0.0977, a premium to Zenith's AU$0.093 closing price, the filing said.Zenith shareholders who accepted the offer by Monday may have the right to withdraw their acceptance, with the offer remaining subject to defeating conditions and the outcome of the Takeovers Panel proceedings, the filing added.
(Update to add details about Forrestania's extension of the offer period in the fourth paragraph)Forrestania Resources (ASX:FRS) was ordered by the Takeovers Panel to ensure that the offer period under its takeover bid for Zenith Minerals (ASX:ZNC) does not end before the determination of the proceedings before the Panel, according to a Monday Australian bourse filing.The panel said the new interim orders replace those dated Aug. 30, requiring Forrestania to extend its takeover bid to a fixed date.The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.The board of Forrestania extended the period during which its offer, under an off-market takeover bid for all of the fully paid ordinary shares in Zenith, will remain open for acceptance until Sept. 21.Forrestania's shares fell 2% in recent trading on Monday.
Forrestania Resources (ASX:FRS) was ordered by the Takeovers Panel to ensure that the offer period under its takeover bid for Zenith Minerals (ASX:ZNC) does not end before the determination of the proceedings before the Panel, according to a Monday Australian bourse filing.The panel said the new interim orders replace those dated Aug. 30, requiring Forrestania to extend its takeover bid to a fixed date.The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.Forrestania's shares fell 2% in recent trading on Monday.
Forrestania Resources (ASX:FRS) said its global mineral resource estimate stands at 58.6 million tonnes at 1.1 grams per tonne grade of gold for about 2.1 million ounces of the precious metal, according to a Monday filing with the Australian bourse.The latest estimate follows the Sept. 4 completion of the company's Edna May gold project acquisition.The mineral resource estimate for Edna May is 30.7 million tonnes at 1 g/t gold for 945,000 ounces of gold at a 0.5 g/t cut-off, Forrestania said.The company's shares fell past 3% in recent Monday trade.
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.
(Updates the headline and second paragraph with Forrestania's extension, and adds stock movement in the last paragraph.)Forrestania Resources (ASX:FRS) has been ordered by the Takeovers Panel to extend its takeover bid for Zenith Minerals (ASX:ZNC) so that it does not end before Sept. 14 while the panel continues to consider final orders following its declaration of unacceptable circumstances on Aug. 27, according to a Monday Australian bourse filing.In a separate same-day statement, Forrestania said it has extended the period during which the offer will remain open for acceptance until Sept. 14.The panel said the new interim orders replace those dated Aug. 2, and prohibit Forrestania from processing any acceptances received in relation to its off-market takeover bid or declaring offers free from any defeating condition without the panel's consent.The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.Zenith Minerals shares shed over 3% in recent Monday trade.
Forrestania Resources (ASX:FRS) has been ordered by the Takeovers Panel to extend its takeover bid for Zenith Minerals so that it does not end before Sept. 14 while the panel continues to consider final orders following its declaration of unacceptable circumstances on Aug. 27, according to a Monday Australian bourse filing.The panel said the new interim orders replace those dated Aug. 2, and prohibit Forrestania from processing any acceptances received in relation to its off-market takeover bid or declaring offers free from any defeating condition without the panel's consent.The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.
Australia's Takeovers Panel made a declaration of unacceptable circumstances in Forrestania Resources' (ASX:FRS) proposed takeover of Zenith Minerals (ASX:ZNC) following applications from Zenith shareholders Harvest Lane Asset Management and Ida Metal Investments, according to a Friday filing with the Australian bourse.Forrestania accumulated a substantial holding in Zenith by April 13 but did not provide the relevant substantial holder notice until June 9, putting it in breach of ownership disclosure requirements, the Panel said.It also found that the bidder's statement failed to disclose material information to Zenith shareholders related to the sale process for Enda May assets, for which Forrestania submitted a binding offer."The first supplementary target's statement was deficient because it did not properly engage with the material change in circumstances that had arisen as a result of the Edna May transaction," the Panel said, adding that it is still considering whether it would make any final orders.Forrestania shares fell 4% in recent Friday trade.
Forrestania Resources (ASX:FRS) awarded an open-pit mining contract with a base contract value of about AU$145 million to MEGA Resources for the development and operation of the Johnson Range project in Western Australia, according to a Thursday filing with the Australian bourse.The deal includes the full scope of open-pit mining activities, with the campaign slated to extend over two years, the filing said.Mobilization activities are expected to start after final project readiness activities, per the filing.Shares fell 1% in morning trade Thursday.
Forrestania Resources (ASX:FRS) is on track for commissioning of the Lake Johnston processing facility in Western Australia, with the sourcing of core infrastructure and operational items to support the facility through to production, according to a Thursday filing with the Australian bourse.The company engaged with commercial suppliers to finalize agreements for key consumables such as grinding media, carbon supply, and reagents, including sodium cyanide and caustic soda, in the coming weeks, the filing said.The company tapped Marlee Resources for the supply of personnel and equipment to support infrastructure requirements and clearing services, per the filing.Shares fell 1% in morning trade Thursday.
Forrestania Resources (ASX:FRS) said its board has resolved to extend the period during which its off-market takeover offer for Zenith Minerals will remain open for acceptance until Sept. 7, according to a Monday Australian bourse filing.The company's shares rose 3% in recent Monday trade.
Forrestania Resources (ASX:FRS) identified high-grade gold mineralization during recent drilling at its British Hill deposit at its Forrestania Hub in Western Australia, according to a Monday Australian bourse filing.The results were up to 29 meters at 3.91 grams per tonne gold from 220 meters and 26 meters at 2.06 grams per tonne gold from 48 meters, the filing added.Chairman David Geraghty said the results reinforce the company's view that British Hill has the potential to develop into a meaningful gold asset within Forrestania's growing project portfolio, it added.
Forrestania Resources (ASX:FRS) reported an updated mineral resource estimate for the British Hill deposit in Western Australia of about 3.3 million tonnes at 1.66 grams per tonne (g/t) grade of gold for 175,690 ounces of the precious metal, according to a Monday filing with the Australian bourse.The updated estimates include about 2 million tonnes at 1.54 g/t within the indicated category for 100,260 ounces of gold at a 0.5 g/t gold cut-off, per the filing.The mineral resource estimate is supported by results from the first six drill holes of the current drill program, which comprises 1,940 meters, the company said, adding that the remainder of the program is ongoing with three reverse circulation rigs.The company's shares gained about 3% in recent Monday trade.
Forrestania Resources (ASX:FRS) received acceptances giving it a relevant interest of 56.34% of Zenith Minerals (ASX:ZNC) shares, comprising acceptances from Zenith shareholders of 47.22% and Forrestania's existing holding, according to a Tuesday Australian bourse filing.The company said it is presently prevented from declaring the offer free from defeating conditions pursuant to interim orders made by the Takeovers Panel.
Forrestania Resources (ASX:FRS) entered into an amended and restated takeover deed to acquire Zenith Minerals (ASX:ZNC), updating an agreement originally struck in June, according to a Tuesday filing with the Australian bourse.The amended agreement follows interim orders from the Takeovers Panel barring Forrestania from processing further acceptances received in relation to the off-market takeover bid.Forrestania subsequently gave Zenith shareholders who already accepted the offer the right to withdraw their acceptance as the offer period was extended to Aug. 31. The company also engaged with the Australian Securities and Investments Commission to address concerns that the extension notice was invalid.
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