hi guys dont no if this is of any value its report on frgThu, 28...

hi guys dont no if this is of any value its report on frg

Thu, 28 Jul 2011 10:55:00 +1000 2 weeks, 5 days ago


Appendix 5B Mining exploration entity quarterly report Level 24, 56 Pitt Street Sydney NSW 2000 Telephone: +612 9259 4400 Facsimile: +612 9259 4499 [email protected] www.forgeresources.com.au ASX Code: FRG 28 July 2011 QUARTERLY ACTIVTIES REPORT FOR THE PERIOD 1 APRIL 2011 TO 30 JUNE, 2011 1. CORPORATE 1.1 Termination of the Transaction for Crown and Swan Deposits Forge Resources Ltd ("Forge") announced on 11 May 2011 agreement to a request from Lynas Corporation Ltd (?Lynas) to terminate the Agreements entered into with respect to the subleases incorporating the ?Crown? and ?Swan? deposits at Mt Weld (?the Transaction?). Lynas advised Forge that during extensive consultation with major shareholders, a strong desire had been expressed for Lynas at this time to focus on its core strategy of delivering its Rare Earth project in Western Australia and Malaysia.

Given the uncertainty of Lynas shareholder support, in relation to the Transaction, Forge directors felt that the fundamental component of the successful development of the Crown and Swan deposits, being a co-operative development relationship was at risk. Forge directors therefore assessed that further expenditure on the Transaction would not be in the best interests of Forge Shareholders and agreed to Lynas? request to terminate the Transaction. Forge and Lynas entered into a deed of release regarding the Transaction.

In consideration for entering into the deed, Forge received $600,000 in partial re-imbursement for out-of-pocket third party costs incurred by Forge in relation to the proposed transaction. Forge continues to pursue other opportunities in line with it original mandate from shareholders and will keep the market informed as this progresses. 1.2 Change of Registered Office The Board of Forge Resources Ltd advised a change of registered office for the Company effective 1 June 2011.

Forge?s new registered office and contact details are as follows. Level 24 56 Pitt Street Sydney NSW 2000 Telephone: +612 9259 4400 Facsimile: +612 9259 4499 Email: [email protected] + See chapter 19 for defined terms. 30/9/2001 Appendix 5B Page 1 Appendix 5B Mining exploration entity quarterly report 2 NSW EXPLORATION ACTIVITIES 2.1 Overview The Company?s tenements are all located within the prospective Lachlan Fold Belt of NSW ? see Figure 1.

The projects are prospective for VMS base metals, gold and copper deposits associated with intrusives and skarns as well as vein hosted tin and tungsten mineralisation. Figure 1: Location of Forge tenements. Exploration activities conducted on these projects during the Quarter together with ....

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