Forrestania Resources (ASX:FRS) will use this week’s RIU Sydney Resources Round-up as a platform to outline its 3-pronged growth strategy – Explore, Collaborate and Acquire.
Speaking to Mining.com.au ahead of his presentation on day 1 of the conference today (9 May 2023, Managing Director Michael Anderson says yesterday’s announcement, as reported by this news service that it has executed a joint venture will be a focus at RIU.
Anderson says during today’s presentation he will be seeking to highlight to the RIU audience Forrestania’s now dual focus in 2 ‘world-class’ areas for lithium exploration – Western Australia and James Bay, which forms the ‘explore’ part of its strategy.
Also, he says the joint venture with ALX Resources (CVE:AL) to earn a 50% interest in the Hydra Lithium Project in Quebec, Canada forms the ‘collaborate’ aspect, while going forward the company will be proactively seeking ways to expand the portfolio, which is prong 3 ‘acquire’.
“It’s only 2 months since I took on the MD role and I intend to be true to our commitment to not stand still as we look to add value for Forrestania’s shareholders and stakeholders”
“It’s only 2 months since I took on the MD role and I intend to be true to our commitment to not stand still as we look to add value for Forrestania’s shareholders and stakeholders,” he tells Mining.com.au.
Yesterday (8 May 2023), as reported by this news service, Forrestania announced its partnership on the compelling Hydra Lithium Project in northern Quebec, Canada. The company is collaborating with ALX Resources, a seasoned operator in the region, led by a team with a proven track record of exploration success and invaluable local expertise.
Under the agreement with ALX Resources, Forrestania will pay ALX CAD$50,000 as a non-refundable deposit for a 60-day exclusivity period ahead of closing, CAD$350,000 in cash on closing, and CAD$600,000 in shares within 5 days of the closing.
Write to Adam Orlando at Mining.com.au
Images: Forrestania Resources Ltd
