Forrestania Resources to Acquire Ramelius's Edna May Gold Mine in $300m Deal

The acquisition consolidates West Australian gold assets under a SGH-backed operator, signaling continued M&A activity in the sector despite broader market consolidation trends.

By Handelsavisen Newsroom · Automated 2026-06-28 08:52 UTC · 1 min read

Forrestania Resources is set to acquire the Edna May gold mine in Western Australia from Ramelius Resources in a transaction valued at approximately $300 million.

The deal structure involves a cash payment of around $200 million to Ramelius, alongside the issuance of Forrestania shares worth $100 million to the seller.

Sources familiar with the matter confirmed the terms, marking a significant expansion for the gold miner.

The acquisition underscores the strategic focus of Forrestania, a company backed by SGH Limited and led by former MinRes executive David Geraghty.

By securing the Edna May asset, Forrestania strengthens its position in the West Australian gold belt, leveraging its backing to pursue growth through targeted acquisitions rather than organic exploration alone.

The mixed cash-and-share consideration reflects a balance between immediate liquidity for the seller and long-term equity participation in Forrestania’s future production.