Forge is way more than just a punt on Sirius nearology. It has a quality project Balla Balla with a revised DFS due. It has minerals sands JORC in place at its Eucla (Fraser Range) project, it has IBG drilling at one of its NSW tenements and FRG is starting drilling at another NSW tenement
It has a very experienced board, ~$5m cash (dec) and a very large partner (Todd Group) at Balla Balla.
We have news flow through the first half of the year. And yes, we have identified targets via EM in the fraser range which hopefully we can drill short term.
As I have posted a couple of times, I believe the volume in the last week or two has been AIW selling down their shares which came out of escrow. They announced 1.5m sold in Dec quarter. I would have an educated guess that in the AIW March quartertly there will be confirmation they have exited. This is great, as it removes that 3m shares overhang completely now. As you noted, lots of the register is tighly held by management
should be an interesting few months - newsflow ahead of funds being required about jun/july based on current $$ and spend
FRG Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
