Forrestania Resources (ASX: FRS) – Southern Cross projects
COMPANY SCOREBOARD
| Pro Plus | Pro | Con Plus | Con |
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ABOUT COMPANY
Forrestania Resources (FRS) (https://forrestaniaresources.com.au/) explores gold and battery minerals in Western Australia. Its flagships are the Forrestania and Southern Cross projects in the Southern Cross region.
The company was listed in September 2021 by raising $5m@20c. Additionally, it issued 12m shares to vendors to purchased three projects (details are in Prospectus 6.1.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| FRS | 0.024 | 161785743 | 3882857.832 | 1.2/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 1127 | 52.77% | 55.73% | 12.99% | last raise $1.7m@3c+7.5cOpt; pre raise $1.9m@7c+15cOpt |
In November 2022, the CEO resigned.
FLAGSHIP ASSETS
Forrestania Gold, Lithium & Nickel Project Southern Cross WA
OTHER ASSETS
SUMMARY
The company spent the IPO money for nothing, and re-capitalised in October to focus on lithium.