OzAurum Secures $4.1M Boost from Forrestania to Advance James Open Pit

Strategic Investment Validates OzAurum’s Development Pathway

OzAurum Resources Limited has successfully raised $4.1 million through a strategic share placement to Forrestania Resources, which will hold a substantial 19.9% stake in the company post-settlement. This investment not only injects vital capital but also signals strong third-party confidence in OzAurum’s James Stage 1 Open Pit project, located in the prolific Eastern Goldfields region of Western Australia.

The placement follows encouraging results from recent grade control drilling at the James Stage 1 Open Pit, which confirmed shallow, consistent high-grade gold mineralisation. These results materially de-risk the project and underpin OzAurum’s strategy to advance heap leach development at Mulgabbie North, a key asset within their portfolio.

Funding to Accelerate Development and Exploration

The $4.1 million raised will be directed towards advancing feasibility studies and development activities for the heap leach process at James Stage 1, supporting early mine development at Mulgabbie North, and continuing exploration across the broader project area. This capital injection is timely, enabling OzAurum to maintain momentum as it moves closer to production readiness.

Importantly, the placement was executed within the company’s existing capacity under ASX Listing Rules, allowing for a swift transaction without the need for shareholder approval. The shares were issued at 7.2 cents each, reflecting the recent trading price and ensuring fair value for both parties.

Operational Expertise Strengthens Feasibility Study

Forrestania’s Chairman, David Geraghty, a qualified metallurgical engineer with a track record of bringing mining projects into production, will add valuable expertise to OzAurum’s feasibility efforts. His involvement is expected to enhance technical rigour and operational planning as OzAurum advances its heap leach development pathway.

CEO Andrew Pumphrey highlighted the strategic nature of the investment, describing it as a strong endorsement of the project’s quality and scale. The partnership with Forrestania not only provides capital but also operational insight, which could prove pivotal as OzAurum navigates the complexities of mine development.

Broader Implications for Regional Gold Development

Forrestania Resources itself is a growing player in Western Australia’s gold exploration scene, with a focus on high-quality projects across key mining districts. Their investment in OzAurum aligns with a broader strategy to expand their footprint in the Eastern Goldfields and Southern Cross regions, areas known for their rich mineral endowment.

This strategic alliance could foster synergies between the two companies, potentially accelerating exploration and development outcomes in one of Australia’s most prospective gold belts. For investors, the deal signals increased confidence in OzAurum’s assets and development trajectory.