Forrestania Resources Global Mineral Resource Estimate Exceeds 2 Million Gold Ounces After Edna May Acquisition; Shares Down 3%
MT Newswires Live
Sep 07
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.