Forrestania targets a rapid restart of Edna May in the first half of 2027, building a dual hub-and-spoke network capable of over 6 million tonnes per annum combined with Lake Johnston coming online later in 2026.

The plan aims to exceed 6 Mtpa processing capacity by early 2027, with Lake Johnston commissioning anticipated in late 2026.

Lake Johnston commissioning is on track for late 2026, making Edna May a second processing hub and enabling a unified dual-hub network with sustained over-6 Mtpa throughput by early 2027.

The deal marks a milestone in Forrestania’s consolidation strategy, transforming the company from explorer to producer with a second major WA processing hub.

Edna May brings a 2.9 Mtpa carbon-in-leach plant and a 945,000-ounce JORC resource, plus a broader 30.7 million tonne at 1 g/t gold resource (0.5 g/t cut-off) across 25,000 oz measured, 700,000 oz indicated, and 220,000 oz inferred.

Trading halts on Forrestania are expected to lift around July 1, 2026, after the equity placement, with restart studies and shareholder approvals to proceed for the capital raise and Edna May feed.

The Edna May package sits within a 1,000 square kilometre tenement footprint that includes Tampia, Symes, and four regional licenses, expanding Forrestania’s regional exploration and processing potential.

The acquisition provides a turnkey operating hub complete with an accommodation village, airstrip, tailings facility, admin complex, and grid power, accelerating restart and reducing upfront capital costs.

Forrestania Resources agreed to acquire 100% of Ramelius Resources’ Edna May gold hub for $300 million, with at least $200 million in cash and up to $100 million in Forrestania shares, making Ramelius a substantial shareholder.

The deal is being financed by a heavily supported institutional capital raise aimed at securing the cash component, building on Forrestania’s recent asset sales and acquisitions.

Upon completion, Ramelius becomes a substantial shareholder in Forrestania, which is also pursuing additional capital to fund the cash portion.

Ramelius says the sale crystallises value from a non-core asset while preserving exposure to Edna May through Forrestania equity.