Forsys Metals Corp T.FSY

Alternate Symbol(s): FOSYF

Metals & Mining Industrial Metals & Minerals

Forsys Metals Corp. is a Canada-based uranium developer. The Company is engaged in the business of acquiring, exploring and developing mineral properties which are located in Namibia, Africa. Its principal focus is on uranium and bringing the Norasa Uranium Project (Norasa), which combines the fully licensed Valencia Uranium deposit (ML-149) (Valencia) and the exploration stage Namibplaas Uranium (Namibplaas) projects, into production. The Company’s flagship project is Norasa, which includes the wholly owned Valencia project, which has a 100 % interest in the Namibplaas project under Exclusive Prospecting Licence (EPL-3638), and which is located 5 kilometers (km) northeast of Valencia. The Namibplaas is located 4.5 km northeast of the Valencia deposit on the farm Namibplaas 93, with a total surface area of 1,269 hectares (ha). The uranium mineralization at Valencia is hosted by granitic alaskite intrusions and a narrow halo within the immediate country rock contacts.

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Forsys Metals Corp

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Post by nozzpackon Feb 07, 2024 2:41pm

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Post# 35868115

$2.25 Target

Here is why..

The company’s flagship asset, Norasa, is one of the world’s few fully licensed undeveloped uranium deposits in the world, having been granted the third 25 year Mining Licence over the last few decades in Namibia;
Norasa is one of the largest permitted, undeveloped projects in the world with Proven and Probable Reserves of 90.7Mlbs of uranium and 5.2Mlb production over the 15 years LoM (2015 DFS);
Currently, Norasa would be ranked ninth (9th) largest uranium mine in the world when in production;
Compelling financials from the 2015 DFS with operating costs per pound of US$34.72/lb; NPV pre-tax of US$622.6M; IRR 32%;
The Norasa project is highly leveraged to increasing Uranium prices;
Namibia is a low-risk jurisdiction which is politically stable, mining friendly and well-regulated and was 3rd largest Uranium producer in 2022;
The Company has an experienced and highly regarded African focused board and management team and enjoys significant credibility with a team of highly qualified metallurgists, geologists and mining experts based in Namibia;
The Company has strong local Governmental support for the Norasa project as one of the key future mining developments for the country;
The Company is well capitalised and well positioned to leverage attractive mid and long-term sector dynamics. through acquisition and joint venture;
The Company is completing a complete re-evaluation of the 2015 DFS which will be published in 2024 though has already made significant progress in conducting trade off studies to confirm heap leaching rather than tank leaching as a more compelling and financially advantageous processing method;
The Company are planning a pilot Heap leaching scheme at the Valencia site demonstrating the commitment of Forsys in advancing this project;
There are positive Uranium macro fundamentals given the doubling in demand for electricity; global G20 ambitions to become carbon neutral using clean renewable energies; demand for uranium is expected to exceed primary production as evidenced by the increase in nuclear reactors under construction, proposed or planned to be built;