Gilbert + Tobin has advised Ramelius Resources Limited (ASX: RMS) on its proposed sale of the Edna May Gold Hub, including its processing infrastructure and regional satellite tenements, to Forrestania Resources Limited (ASX: FRS) for total consideration of $300 million, comprising upfront cash and Forrestania shares.
Ramelius is an ASX-listed gold producer with operations and development projects across Western Australia. The proposed sale covers the Edna May processing infrastructure and regional satellite tenements, including Tampia and Symes, with consideration comprising upfront cash and Forrestania shares.
Located near Westonia in Western Australia, the Edna May Gold Hub includes a processing plant with capacity of approximately 2.9Mtpa. Since acquiring the operation from Evolution Mining Limited in 2017, Ramelius has produced approximately 760,000 ounces of gold from the asset. The operation has been on care and maintenance since April 2025.
On completion, Ramelius is expected to become a substantial shareholder in Forrestania, retaining exposure to the future development of the Edna May assets through Forrestania's proposed restart strategy.
G+T advised Ramelius on all legal aspects of the transaction, working closely with Azure Capital, which acted as financial adviser.
The G+T team was led by partner Justin Mannolini, with support from special counsel Callum Fleming and lawyers Shay Kiriakidis, Ariane Moir and Jason Duryea.
Justin Mannolini commented:
We are delighted to have advised Ramelius on this strategically important transaction. The sale enables Ramelius to realise value from a non-core asset while retaining exposure to the future development of the Edna May Gold Hub through its investment in Forrestania. It also supports Ramelius' continued focus on its core operations, including the transformation of Mt Magnet and development of the Rebecca-Roe project.
The transaction involved a listed purchaser, a mixed cash and scrip consideration structure and significant Western Australian mining assets. It demonstrates our experience advising on complex public M&A and resources transactions, and it was a pleasure to work alongside the Ramelius and Azure Capital teams to deliver this outcome.
