Forrestania Resources to take full ownership of Mt Palmer gold project

Forrestania Resources has agreed to acquire the Aurumin Mt Palmer, Aurumin Johnson Range and Aurumin Mt Dimer subsidiaries from Newcam Minerals in a move to take full ownership of the Mt Palmer gold project in Western Australia (WA). This deal will be executed through the issuance of nearly 37.9 million ordinary shares in Forrestania at A$0.475 per share, totalling A$18m ($12.5m). Mt Palmer is located around 15km east of Marvel Loch in the Shire of Yilgarn. Historically, it has been mined using both ope ...