Investors fume over Forrestania’s Zenith bid; eyes on Takeovers Panel

Western Australia’s Ida Metal Investments has hit back at ASX-listed gold and lithium explorer Zenith Minerals’ response to its criticism of a scrip bid from Stokes-backed Forrestania Resources after a dramatic decline in the bidder’s share price.

Ben Klemasz, chief commercial officer of Aurenne Group – the parent entity of Ida Metal – who oversees the firm’s 11.1 per cent stake in Zenith, accused Forrestania of issuing a misleading ASX statement on Thursday and called on the $636 million company to correct it.

Source: https://www.afr.com/street-talk/investors-fume-over-forrestania-s-zenith-bid-eyes-on-takeovers-panel-20260723-p60ht7