Kula Gold Limited advises Forrestania Resources (ASX: FRS) has received acceptances for more than 50.1% of the fully paid ordinary shares on issue in Kula Gold Limited (ASX: KGD). This represents a significant demonstration of confidence from Kula shareholders in the strategic rationale for the transaction.
Forrestania Resources’ Chairman David Geraghty commented:
“The level of support received is a strong early signal from the market. It reflects the alignment we are seeing from Kula shareholders around the benefits of combining these complementary asset portfolios.
Forrestania has always taken a constructive approach to working with neighbouring companies, and our relationship with Kula is a clear example of that. This combination builds on that collaborative foundation and creates the opportunity for a more coordinated and efficient development pathway across the region.
By bringing these assets together and leveraging the recently acquired Lake Johnston processing infrastructure, we believe the merged group will be well-positioned to progress toward potential near-term production.”
HIGHLIGHTS
- Forrestania Resources has received acceptances representing more than 50.1% of Kula Gold Limited shares on issue.
- This early and substantial level of support signals strong alignment from Kula shareholders.
- Acceptances provide a clear mandate to progress Forrestania’s regional consolidation strategy across the Southern Cross and Forrestania greenstone belts, creating the opportunity to unlock operational and development synergies across the combined asset base.
- The acquisition positions Forrestania to advance toward potential near-term gold production, supported by the Lake Johnston processing infrastructure.
- The Offer remains open, and Forrestania encourages remaining Kula shareholders to consider accepting promptly to ensure they receive their consideration within the timelines set out in the Bidder’s Statement.
- For enquiries regarding the Offer, Kula shareholders should contact Automic on 1300 824 174 or email corporate.actions@automicgroup.com.au.
Offer Update As at 4.30pm (AWST) on 15 December 2025, Forrestania’s relevant interest and voting power represents 51.16% of Kula Gold shares on issue. The Offer remains open.
Kula shareholders who wish to accept should do so in accordance with the instructions contained in the Bidder’s Statement to ensure receipt of consideration within the applicable timeframes.
View Bidder’s and Target’s Statement here.
This announcement has been authorised for release by Forrestania Resources’ Board.
Figure 1: Location map of Forrestania Resources Ltd’s projects and tenure
News Release
Date: 16 December 2025 | ASX Code: KGD
About the Company
Kula Gold Limited (ASX: KGD) is a Western Australian mineral exploration company with expertise in the discovery of new mineral deposits in WA. The strategy is via large land positions and structural geological settings capable of hosting ~+1m oz Gold or equivalent sized deposits including Lithium.
The Company is advancing projects within the WA goldfields at the Mt Palmer Gold Project at Marvel Loch Southern Cross, the South West region of WA for Lithium and Gold at Kirup and Brunswick – near the world class Greenbushes Lithium Mine, as well Lithium at the Taliah-Nadia-Sasha Prospects at Southern Cross. The Company added the Wozi Niobium Project in Malawai in mid-2025.
Kula discovered the large 93.3mt Boomerang Kaolin deposit near Southern Cross WA – Maiden resource announced 20 July 2022. This project is in the economic study phase and moving to PE funding or trade JV.
The Company has a history of large resource discoveries with its foundation being the Woodlark Island Gold project in PNG, (+1m oz Gold) which was subsequently joint ventured and sold to (ASX: GPR).
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
