- CEO
- John Borshoff
- Full Time Employees
- 12
- Sector
- Non-energy minerals
- Industry
- Other metals/Minerals
- Address
- 20 Adelaide Street East Toronto ON Canada M5C 2T6
- IPO Date
- May 31, 1994
- Business
- Forsys Metals Corp. engages in the acquisition, exploration, and development of uranium mineral properties primarily in Namibia, Africa. The company focuses on advancing its wholly owned Norasa Uranium Project, which consolidates the fully licensed Valencia Uranium deposit under Mining Licence ML-149 valid until 2033 and the nearby exploration-stage Namibplaas Uranium deposit under Exclusive Prospecting Licence EPL-3638 renewed until February 2026; Norasa features significant uranium resources supported by a definitive feasibility study indicating 91 million pounds of uranium production potential, pre-tax NPV of $622.6 million, 32% IRR, and annual output of 5 million pounds. Operations target the uranium sector to capitalize on global nuclear power demand, with exploration efforts including infill and extension drilling, ore sorting testwork, leaching tests, and resource estimate updates to enhance economics and reserves. Founded in 1985 and headquartered in Toronto, Canada, the company lists on the TSX (FSY), FSE (F2T), and NSX (FSY). Recent developments include closing a bought deal LIFE private placement for C$18.9 million gross proceeds in October 2025 to fund Norasa advancement; reporting positive ore sorting and leaching testwork, interim and additional drilling results, and an updated mineral resource estimate in 2025; reaching an agreement in January 2025 to purchase Farm Namibplaas Portion-1; commencing the 2024 drilling program at Valencia; and obtaining EPL-3638 renewal in March 2024.