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Zenith Minerals Limited (ASX:ZNC)

ALERT: Price-sensitive ASX Announcement for ZNC
Current share price for ZNC : $0.110 0.019 (20.88%)+
Announcement
Release
7 Jul 2026 7:02PM
Price at Release
$0.091
Full Release
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Summary
Forrestania Resources Limited has extended its offer to acquire all shares of Zenith Minerals Limited, offering 1 new Forrestania share for every 4.3 Zenith shares and extending the offer period to 31 July 2026. Zenith's Directors recommend accepting this offer, barring any superior proposals. The acquisition involves purchasing the Edna May Gold Project from Ramelius Resources Limited for A$300 million, supported by a capital raising of A$310 million to finalize the purchase, subject to shareholder approval. The acquisition includes the Edna May Mill and associated infrastructure, reinforcing Forrestania's strategy to consolidate high-quality gold assets.
Key Points
  • Forrestania Resources Limited has extended its offer for Zenith Minerals Limited.
  • The offer includes 1 new Forrestania share for every 4.3 Zenith shares.
  • Zenith Directors unanimously recommend accepting the offer in the absence of a superior proposal.
  • Forrestania has agreed to acquire the Edna May Gold Project from Ramelius Resources Limited for A$300 million.
  • The acquisition includes the Edna May Mill and associated infrastructure.
  • Forrestania is raising A$310 million to fund the Edna May acquisition.
  • Completion of the acquisition is subject to shareholder approval.
  • The offer period is extended to 31 July 2026.
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.