Forsys settles out of court with George Forrest

Canadian uranium junior Forsys Metals said on Thursday it has reached a settlement agreement with George Forrest International (GFI), after the companies claimed money from each other stemming from a failed 2008 takeover.“The terms of the...

Forsys invites proposals on potential deals

Uranium junior Forsys Metals has invited a short-list of parties to submit proposals on potential transactions with the company, it said on Tuesday. Forsys' main asset is the Valencia uranium project in Namibia, which is fully permitted and could...

Forsys Metals hires new CEO

Uranium junior Forsys Metals has appointed former First Quantum Minerals executive Marcel Hilmer as CEO, the firm announced on Monday. Hilmer will replace Duane Parnham, who is stepping down from the position, but will continue on the board as...

Forsys hires Morgan Stanley for strategic review

Uranium developer Forsys Metals has appointed Morgan Stanley & Co as exclusive financial advisor to assist the company with a review of potential strategic alternatives, the firm announced on Wednesday. In August, Forsys broke off an agreement...

Forsys would consider reopening talks with George Forrest

Uranium junior Forsys Metals would consider reopening discussions with George Forrest International (GFI), if it offered proof that it had the funds needed to complete the now-terminated agreement between the two firms, Forsys CEO Duane Parnham...

Forsys will fight George Forrest for break-up fee

Uranium junior Forsys Metals confirmed on Friday that erstwhile suitor George Forrest International (GFI) had disputed Forsys' right to claim a C$20-million reverse break fee after terminating its agreement with GFI. GFI alleged that Forsys had...

Forsys shares drop after buyout scrapped

Shares in uranium junior Forsys Metals fell 9,62% on Wednesday, after the company said that it had terminated an agreement with George Forrest International, which had failed to come up with the money for its acquisition of Forsys. The company...

Daily podcast - August 26, 2009

In today's podcast, Mongolia's Parliament clears the way for an investment agreement on the giant Oyu Tolgoi copper/gold project; and governments respond in a pleasing way to the idea of establishing a trans-Kalahari rail link to Southern Africa's...

Forsys loses patience, breaks off George Forrest deal

Uranium junior Forsys Metals has terminated its agreement with George Forrest International (GFI), citing the other company's ongoing failure to transfer the funds to complete a C$579-million friendly takeover of Forsys. “As of today's date,...

Industry Canada may add further delay to Forsys-George Forrest deal

Just as George Forrest International (GFI) appeared finally to have arranged the cash for its acquisition of Canada-based Forsys Metals, the transaction has run into another potential obstacle, this time from the government of Canada. “GFI has...

Daily podcast – November 18, 2008

In today's podcast: Lonmin posted a 19% rise in yearly underlying earnings per share; and Gem Diamonds warns that it might post a full-year loss.

DRC copper mine back to full production

The International Forrest Group said its Luiswishi cobalt and copper mine in the Democratic Republic of the Congo had resumed full production of cobalt, effectively raising world supply by 15%.