Forgent plc (LSE:FORG), the technology-focused energy transition and metals exploration company, is moving ahead with development activities at its Peak Hills gold-copper project in Western Australia, where it currently holds a majority interest and retains the option to significantly increase its ownership position.
The company’s exploration strategy is focused on re-evaluating historic datasets to identify and prioritise prospective targets across the project’s 163 km² land package. Management believes the approach can help unlock additional value from previously identified mineralisation trends while supporting future resource growth.
Planning has now been completed for the first drilling campaign at Peak Hills. An aircore programme comprising approximately 42 holes for a total of 2,860 metres is expected to commence around 21 June 2026 and continue for roughly three weeks. The programme will focus on seven priority target areas across the Karalundi, Junction and Curley’s prospects.
The drilling campaign is designed to confirm historical gold and copper intersections, investigate potential extensions to known mineralised zones and improve the company’s understanding of the project’s geological setting. Initial assay results are anticipated in early August 2026 and are expected to represent an important operational milestone as Forgent advances its Australian exploration portfolio.
Despite the progress at Peak Hills, the company’s outlook continues to be weighed down by weak financial fundamentals, including ongoing losses, leverage and negative cash flow generation. Technical indicators also remain challenging due to a sustained downward share price trend, while valuation metrics offer limited support given the absence of earnings and dividend payments.
More about Forgent plc
Forgent plc is a technology-led energy transition company focused on the exploration and development of critical and precious metals assets. The company’s primary focus is on gold and copper opportunities in Western Australia, including the Peak Hills project, where it currently owns a 51% stake across approximately 163 km² of granted exploration tenements and has the option to increase its interest to 99%.
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