Forgent plc (LSE:FORG) has commenced a new exploration phase at its Peak Hills gold-copper project in Western Australia following the mobilisation of a drill rig to site. The Phase 1 aircore drilling programme will target several priority prospects, with approximately 42 drill holes planned to depths of up to 100 metres for a total of around 2,860 metres. The campaign is designed to confirm historical exploration data, test extensions to known mineralisation and identify new mineralised zones. Initial assay results are anticipated in early August 2026.
The commencement of this cost-effective drilling programme represents an important milestone in progressing the Peak Hills asset. By testing multiple targets and seeking to verify previous exploration outcomes, the campaign has the potential to reduce geological risk and enhance understanding of the project’s gold and copper potential. Positive drilling results could improve the project’s development prospects and support Forgent’s long-term objective of increasing its ownership interest, while strengthening its exposure to commodities linked to the global energy transition.
The company’s overall assessment continues to be weighed down by weak financial fundamentals, including ongoing losses, leverage and negative cash flow. Technical indicators also remain under pressure due to a sustained downward trend, while valuation support is limited by a negative price-to-earnings ratio and the absence of dividend information.
More About Forgent plc
Forgent plc is an AIM-listed, technology-focused energy transition company with a strategic emphasis on gold and copper exploration in Western Australia. Its principal exploration asset is the Peak Hills project, where the company currently holds a 51% interest and retains the option to increase its ownership to 99%.
The Peak Hills project covers approximately 163 square kilometres across five granted tenements and is considered a key component of Forgent’s strategy to build exposure to critical metals through targeted exploration and project development activities.
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