Forrestania Resources is moving ahead with the acquisition of Ramelius Resources’ Edna May gold mine and mill in Western Australia’s Wheatbelt after securing funding for the deal. Multiple reports say Forrestania has obtained firm commitments to raise about $310 million, described as being funded via an institutional share placement, to pay for the buyout. The reported transaction value is around $300 million in several outlets, with some specifying $310 million as the amount Forrestania raises to fund the acquisition.
The sources agree that Forrestania is purchasing 100% of the Edna May gold hub from Ramelius, including the mothballed mine and processing facilities. Forrestania also frames the acquisition as part of a broader strategy to expand its portfolio and develop a dual gold-hub processing network in Western Australia. While the articles differ slightly on whether the deal is described as $300 million or $310 million, they consistently present the same transaction: Forrestania buys Edna May and has locked in funding to proceed with the takeover.
