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Forsys Metals Corp T.FSY

Alternate Symbol(s):  FOSYF

Forsys Metals Corp. is a Canada-based company, which is engaged in the business of acquiring, exploring and developing mineral properties. The Company is principally focused on advancing the Norasa Uranium Project, which is wholly owned by its 100% owned operating subsidiary, Valencia Uranium (Pty) Ltd comprising the Valencia Uranium deposit (ML149) and the nearby Namibplaas Uranium deposit (EPL3638) in the politically friendly jurisdiction of Namibia. The Valencia Uranium project is situated on the farm Valencia 122, which is located approximately 75 kilometers (km) north-east of the town of Swakopmund in central-west Namibia, covering an area of 735.6 hectares (ha). The Namibplaas Uranium project is located 7.5 km northeast of the Valencia deposit on the farm Namibplaas 93, with a total surface area of 1,269 ha.


TSX:FSY - Post by User

Bullboard Posts
Post by CrashLandingon Aug 24, 2009 3:55pm
470 Views
Post# 16244913

Industry Canada

Industry CanadaI read somewhere last Monday ( I tried to go back and find the article...but couldn't)  that Industry Canada may have been asked to review the deal by the US government.  They said the US government was conerned that Rio Tinto has a uranium mine in Namibia, in which the Iranian government was a minority stakeholder.  This mine is not too far from FSY.

The article expressed the US government's concern that GFI may have a connection to Iran or to Rio Tinto, which could result in Iran owning a large piece of this mine once the dust settles.

I wish I could find the article.  I know I read it because it caused me to sell out my position in FSY at $6.56.
Bullboard Posts