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Forge Resources ( (TSE:FRG) ) just unveiled an announcement.
Forge Resources announced the formal acquisition of a 60% interest in Aion Mining Corp, expanding its stake by an additional 20% through a transaction valued at over $5.3 million. This strategic move is expected to bolster the development of the La Estrella Property and is seen as a significant step towards revenue generation and growth. The acquisition demonstrates the company’s confidence in Aion’s coal project and includes a right of first refusal to maintain its ownership level. Additionally, Forge Resources is issuing options to directors and consultants, further aligning interests with its growth objectives.
More about Forge Resources
Forge Resources Corp. operates in the mining industry, primarily focusing on coal projects. The company is involved in the acquisition and development of mining properties, aiming to enhance growth and value creation for its stakeholders.
YTD Price Performance: 64.10%
Average Trading Volume: 22,943
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $51.52M
Find detailed analytics on FRG stock on TipRanks’ Stock Analysis page.
