InvestSMART

Ramelius Resources Limited (ASX:RMS)

ALERT: Price-sensitive ASX Announcement for RMS
Current share price for RMS : $3.080 0.08 (2.67%)+
Announcement
Release
29 Jun 2026 9:05AM
Price at Release
$3.000
Full Release
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Summary
Ramelius Resources Limited has announced a binding agreement to sell the Edna May Gold Hub to Forrestania Resources Limited for a total consideration of $300 million, consisting of $200 million in cash and $100 million in Forrestania shares. The transaction is expected to complete in the September 2026 quarter, subject to customary conditions such as Forrestania's successful equity raising and shareholder approvals. This strategic sale allows Ramelius to focus on its core projects while retaining exposure to Edna May through a shareholding in Forrestania, which plans to restart operations at the mine.
Key Points
  • Sale of Edna May Gold Hub for $300 million
  • Transaction includes $200 million cash and $100 million shares
  • Forrestania to raise at least $200 million in equity
  • Completion expected in September 2026 quarter
  • Ramelius to become significant shareholder in Forrestania
  • Edna May on care and maintenance since April 2025
  • Sale aligns with Ramelius' strategic focus shift
  • Forrestania plans to restart Edna May operations
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.