Compliance Slip Raises Questions as Forrestania Expands WA Gold Portfolio

Compliance Correction, Retraction of Hyden MRE Reference

Forrestania Resources Limited (ASX, FRS) has issued a formal retraction of references to a Mineral Resource Estimate (MRE) for its Hyden Project Holdings deposit, originally included in an October 23 investor briefing. The company clarified that it has not yet completed its own JORC-compliant MRE for Hyden, and the prior inclusion of a third-party estimate was inconsistent with ASX Listing Rules and reporting guidelines. Forrestania urges investors not to rely on the withdrawn information for investment decisions, emphasizing that other details in the presentation remain unaffected.

Rapid Growth Across a Diverse Gold Portfolio

Despite this compliance setback, Forrestania is showcasing impressive momentum in expanding its gold resource base. Since leadership changes in July 2025, the company has grown its JORC-compliant resource inventory from approximately 24,000 ounces to nearly 296,000 ounces in just 14 weeks. This growth stems from a series of strategic acquisitions and exploration successes across Western Australia’s premier mining districts, including the Forrestania, Southern Cross, Eastern Goldfields, and Westonia regions.

Key assets such as Lady Lila, British Hill, North Ironcap, and Burracoppin contribute significantly to this resource base, with all new acquisitions secured on granted mining leases; an important factor that fast-tracks the path to production and cash flow. Forrestania’s disciplined growth strategy focuses on assets near existing infrastructure and processing hubs, aiming to transition from exploration to profitable development.

Strategic Consolidation and Leadership

Further bolstering its position, Forrestania announced a bid to acquire Kula Gold, a move that would consolidate complementary projects in the Southern Cross and Eastern Goldfields regions. This acquisition is designed to enhance operational efficiency, expand the technical team, and create a larger, more diversified gold exploration company with strong regional momentum.

The company’s refreshed leadership team, including Chairman David Geraghty and Non-Executive Directors Adam Turnbull and Daniel Raihani, brings extensive mining, operational, and financial expertise. Their focus on disciplined capital allocation and shareholder value underpins Forrestania’s ambition to become a sustainable and profitable gold developer.

Looking Ahead, Exploration and Reporting

Forrestania plans to commence a 15,000-meter drilling program targeting resource upgrades and expansions at key projects such as Lady Ada and Lady Magdalene within the Hyden portfolio. The company also intends to complete its own JORC-compliant MRE for Hyden, which will provide investors with a verified and transparent resource assessment. Meanwhile, ongoing exploration in regions like Bonnie Vale and Breakaway Dam aims to diversify the company’s asset base into copper and lithium, complementing its gold focus.

While the retraction highlights the importance of regulatory compliance and accurate reporting, Forrestania’s broader growth narrative remains intact, supported by a clear pathway to production and a robust portfolio of high-quality assets.