Jun 28, 2026 – 6.47pmForrestania Resources, the gold miner backed by SGH Limited and led by former MinRes bigwig David Geraghty, is set to acquire the Edna May gold mine in West Australia,Street Talk can reveal Forrestania, capitalised at $569 million, has won the auction for Edna May, which was put up for sale by Ramelius Resources last year. The company has agreed to pay Ramelius around $200 million in cash and issue the $5.6 billion gold miner $100 million worth of shares, sources said.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Gold hotshot Forrestania buys Ramelius’s Edna May for $300m
The company will pay Ramelius around $200 million in cash and issue the $5.6 billion gold miner $100 million worth of shares, sources said.
TL;DRAI
Forrestania Resources acquired Edna May gold mine from Ramelius for $300M ($200M cash, $100M stock). While not tech-focused, the M&A signals commodity-sector consolidation relevant to leaders evaluating supply-chain risk and critical business partner stability.
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