Forrestania Resources has signed a binding heads of agreement to acquire the entirety of MacPhersons Reward from Beacon Mining, a subsidiary of Beacon Minerals.

The acquisition includes a total cash payment of A$5m. This amount includes an initial non-refundable deposit of A$500,000 upon the execution of the agreement. The remaining A$4.5m will be paid at the completion of the acquisition.

Additionally, Forrestania will issue 36 million fully paid ordinary shares in its capital, each valued at A$0.38.

This strategic move will see Forrestania gain control of several mining leases and licences within Western Australia's (WA) Coolgardie gold district.

The acquisition aligns with Forrestania's regional expansion strategy and its transition from exploration to near-term production.

MacPhersons Reward holds mining leases M15/0040, M15/0128, M15/0133, M15/0147, M15/0148 and M15/1808, alongside prospecting licences P15/6071 and P15/6085 and miscellaneous licences L15/0312, L15/0352, L15/0355 and L15/0375.

These assets are situated in proximity to Forrestania's existing Coolgardie Hub, enhancing the company's consolidation efforts in the region.

Beacon Mining plans to complete operations at MacPhersons by mid-February 2026 before shifting focus to the Lady Ida – Iguana deposit.

The Coolgardie Hub is located within the Kalgoorlie Terrane's Coolgardie Domain in the Yilgarn Craton of Western Australia.

This area is characterised by a greenstone sequence comprising basalt, ultramafic rocks, felsic volcanic material, and sedimentary units intruded by granitic bodies.

The domain is bordered by the Zuleika Shear to the east and the Ida Fault to the west.

Forrestania Resources executive chairman David Geraghty said: “This acquisition continues Forrestania’s disciplined strategy of consolidating tenure around our Coolgardie Hub with specific focus of granted mining tenure.

“The Macphersons tenements allow us to utilise all the nearby processing options, and transition smoothly from explorer to producer. Importantly, the transaction structure preserves capital, which can be assigned to advancing Forrestania’s production ambitions across our portfolio of West Australian gold assets.”

Earlier this month, Forrestania Resources agreed to acquire the Aurumin Mt Palmer, Aurumin Johnson Range and Aurumin Mt Dimer subsidiaries from Newcam Minerals in a move to take full ownership of the Mt Palmer gold project in WA.

"Forrestania to acquire MacPhersons from Beacon Mining" was originally created and published by Mining Technology, a GlobalData owned brand.

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