Forge Resources

What Forge Resources does

Forge Resources Corp. is a Canadian-listed junior mining exploration and development company operating a dual-asset strategy. Its primary near-term asset is the La Estrella coal project in Santander, Colombia, held through an 80% interest in Aion Mining Corp., targeting metallurgical and thermal coal with permitted production capacity of 180,000 metric tonnes per year across eight known seams. The La Estrella asset is fully permitted under Colombian law (a 10-year process), with underground ramp decline construction advanced, Phase 1 camp infrastructure completed, and coal specifications reported at up to 13,846 BTU/lb, sulphur content as low as 0.82%, and Free Swelling Index up to 8. Revenue from coal sales is anticipated within 12 months of production commencement but has not yet begun.

The company's second asset is the Alotta copper-gold-molybdenum porphyry exploration project in Yukon Territory, Canada, covering 4,723 hectares across 230 mineral claims. Alotta is a pre-discovery exploration asset targeting porphyry mineralization in the Dawson Range Gold Belt, with 2025 drill highlights including 3.4 g/t Au over 44.75m, 45.01 g/t Au over 3.15m, and 105 g/t Au over 1.25m at the Payoff Zone. The company is leveraging advanced geophysical techniques, including 3D magnetic inversion reprocessing and Re-Os dating that confirms a Late Cretaceous mineralization age (72.8-73.1 Ma) consistent with the nearby Casino deposit. A 5,000-metre diamond drill campaign was launched in June 2026.

The company has no current product revenue and is funded primarily through brokered private placements led by Ventum Financial Corp., with approximately $19.3M raised across the 2026 financing cycle on top of an $830K (2023) and $5M (2024) raise. Forge Resources is publicly listed on the CSE (FRG), OTCQB (FRGGF), and FSE (5YZ). Customer-facing operations are pre-revenue; the addressable end markets are steel manufacturers and power utilities for coal and, longer-term, industrial buyers of copper and gold. The company is led by CEO PJ Murphy with Senior Advisor Russell Ball (former Newmont and Goldcorp CFO) and is headquartered in Richmond, British Columbia.

Name

Forge Resources

Legal name

Forge Resources Corp.

Website

https://forgeresourcescorp.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Forge Resources Corp is a Canadian-listed junior mining company pursuing a dual-asset strategy: near-term metallurgical and thermal coal production at the fully permitted La Estrella project in Colombia (80%-owned via Aion Mining) and gold-copper-molybdenum exploration at the Alotta project in Yukon, Canada. The company is pre-revenue and publicly traded on the CSE, OTCQB, and FSE.

Ownership category

akta.pro rank

Product category

Coal Mining and Mineral Exploration

NAICS

Coal Mining (2121), Mining (except Oil and Gas) (212), Copper, Nickel, Lead, and Zinc Mining (21223), Support Activities for Mining (2131)

SIC

Bituminous Coal & Lignite Surface Mining (1221), Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Coal Exploration & Resource Development (IMAKAIAE)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Coal mining
• Mineral exploration
• Metallurgical coal
• Gold copper porphyry
• Junior mining development

Headquarters

HQ city

Richmond

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Coal Production and Sales: Pre-production stage. The company is developing the La Estrella coal project in Colombia with permitted capacity of 180,000 MT/year. The project contains eight known seams of metallurgical and thermal coal with premium specifications including calorific values up to 13,846 BTU/lb, sulphur content as low as 0.82%, and Free Swelling Index up to 8, targeting dual-market appeal in metallurgical (steel production) and thermal coal (power generation) segments. Revenue anticipated within 12 months of production commencement.
2. Gold-Copper-Molybdenum Exploration: Pre-discovery stage. The Alotta project in Yukon Territory represents long-term exploration upside for porphyry copper-gold-molybdenum mineralization. The project is an early-stage exploration asset with significant drilling results including 3.4 g/t Au over 44.75m, 45.01 g/t Au over 3.15m, and 105 g/t Au over 1.25m at the Payoff Zone. No revenue currently generated.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Forge Resources Corp is a Canadian-listed junior mining company operating a dual-asset strategy. The company holds an 80% interest in Aion Mining Corp., which is developing the fully permitted La Estrella metallurgical and thermal coal project in Santander, Colombia, with permitted capacity of 180,000 MT/year. The company also holds the Alotta gold-copper-molybdenum porphyry exploration project in Yukon Territory, Canada, consisting of 230 mineral claims covering 4,723 hectares with multiple mineralized zones.

Product overview

Forge Resources Corp. is a Canadian-listed junior exploration company operating a dual-asset strategy with two distinct projects: (1) La Estrella Coal Project - a fully permitted metallurgical and thermal coal project in Colombia with 80% ownership through Aion Mining Corp., designed for near-term production with 180,000 MT/year permitted capacity; and (2) Alotta Gold-Copper-Molybdenum Project - a high-potential porphyry exploration project in Yukon, Canada, covering 4,723 hectares with multiple mineralized zones. The company leverages the near-term cash flow potential from the Colombian coal asset to support exploration activities at the Canadian copper-gold project.

Differentiator

Problem solved

Functional benefit

Products and services

• La Estrella Coal Project A fully permitted metallurgical and thermal coal project located in Santander, Colombia, with eight known coal seams and permitted production capacity of 180,000 MT/year. Premium specifications include calorific values up to 13,846 BTU/lb, sulphur content as low as 0.82%, and Free Swelling Index up to 8. The product targets steel manufacturers (metallurgical/coking coal) and power utilities (thermal coal). Forge Resources holds 80% interest through Aion Mining Corp.
• Alotta Gold-Copper-Molybdenum Project A copper-gold porphyry exploration project consisting of 230 mineral claims covering 4,723 hectares in the Dawson Range Gold Belt, Yukon Territory, Canada, located 50 km southeast of the Casino porphyry deposit. Features multiple mineralized zones (Payoff, Severance, Commission, Alimony) with significant gold intercepts including 3.4 g/t Au over 44.75m, 45.01 g/t Au over 3.15m, and 105 g/t Au over 1.25m at the Payoff Zone.

Quantifiable outcome

• Coal calorific values up to 13,846 BTU/lb with sulphur content as low as 0.82% and Free Swelling Index up to 8
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, major and supporting.

• Aion Mining CorpcoreStrategic or Co-development PartnerForge Resources holds 80% interest in Aion Mining Corp, the company developing the La Estrella fully permitted coal project in Santander, Colombia. Aion is developing the FLG-111 concession covering 548 Ha with eight known seams of metallurgical and thermal coal. Forge acquired 60% interest in February 2025 for $5.3M+ and increased to 80% in May 2025.
• Archer Cathro & Associates (1981) LimitedcoreTechnology or IntegrationArcher Cathro provides geological consulting and technical services for the Alotta project, including review and approval of technical disclosures under National Instrument 43-101. Kelson Willms, P.Geo of Archer Cathro serves as Qualified Person for the Alotta exploration project, providing regulatory-compliant technical oversight.
• Geominas S.A.SmajorImplementation/ SI/ Consulting PartnerMining operations and engineering firm based in Medellin, Colombia with over 50 years of experience providing engineering and operational support for the La Estrella project. Part of the blended Aion technical and management team integrating Canadian mining standards in Colombia.
• in3D GeosciencesupportingTechnology or IntegrationContractor engaged for 3D magnetic inversion data reprocessing and interpretation at the Alotta project. The geophysical work identified compelling magnetic anomalies representing potential porphyry targets for the 2026 drilling program.
• Capitaliz MarketingsupportingGTM or Marketing PartnerEngaged for three-month investor awareness campaign with budget of $200,000 CAD (potentially increasing to $300,000 CAD). Campaign includes digital advertising and content development to enhance visibility among investors, conducted under company oversight to ensure compliance with securities laws.
• WTS and RMKsupportingGTM or Marketing PartnerMarketing firms engaged for promotional purposes as announced in project updates. Services support investor communications and market awareness initiatives.
• Clarkham Capital LtdsupportingGTM or Marketing PartnerEuropean investor relations consultant engaged to provide services focused on German stock market and German-speaking investor community. Initial term of 3 months for €50,000, including preparation of articles and coverage on financial platforms, newsletters, and translation/distribution of news releases in Germany.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Calibre Mining Corp: Mid-tier gold producer in Nicaragua where Forge's Senior Advisor Russell Ball previously served as CEO. Relevant peer via management overlap and gold-mining operating model, though larger and producing rather than exploration-stage.
• B2Gold Corp: Senior gold producer with a strong exploration and development pipeline. Relevant incumbent comparable on gold-mining operating economics and capital markets positioning for the gold-copper side of Forge's portfolio.
• New Gold Inc: Mid-tier gold-copper producer with operating assets including in the Americas. Useful as a broader incumbent peer for valuation context on gold-copper exposure at production scale.

Direct peers

• Western Copper and Gold Corp: Developer of the Casino porphyry copper-gold-molybdenum project in the Dawson Range, Yukon—the deposit used as a direct geological analogue for Forge's Alotta project (50 km away). Most directly comparable on asset, jurisdiction, and target minerals.
• BlackGold Natural Resources Ltd: Small-cap coal development company—comparable business model as a junior advancing a permitted coal asset toward production with a focus on cash flow inflection.
• Sabre Gold Mines Corp: Gold-focused junior with producing and development assets; comparable in scale, public-market profile, and reliance on a single-asset cash flow thesis—useful proxy for valuation benchmarking.
• Pacific American Holdings Ltd: Junior with coal and critical minerals interests; comparable on commodity mix (coking coal) and small-cap public-company structure.
• Triumph Gold Corp: Exploration-stage company with the Freegold Mountain and other Dawson Range properties in Yukon. Directly comparable as a Yukon gold-copper porphyry explorer with a similar size and project scale.
• Granite Creek Copper Ltd: Yukon-focused copper-gold explorer with claims adjacent in the Dawson Range. Comparable as a junior advancing porphyry/epithermal targets in the same belt as Alotta.

Regional players

• Aris Mining Corporation (formerly Gran Colombia Gold): Gold producer with operations in Colombia. Comparable as a Canadian-listed junior/mid-tier mining company operating in Colombia, providing a regional operational and regulatory read-across for Forge's Colombian exposure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Forge_Resources
• LinkedInlinkedin.com/company/forgeresourcescorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forge Resources