In a report released yesterday, Ben Pirie from Atrium Research maintained a Buy rating on Forge Resources, with a price target of C$1.00.
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Ben Pirie has given his Buy rating due to a combination of factors including the promising results from Forge Resources’ recent drilling activities. The company announced significant gold assay results from its Alotta project, specifically from hole ALT-25-012, which revealed a high-grade gold intercept. This discovery suggests the presence of widespread gold-bearing mineralization, enhancing the potential value of the project.
Additionally, the ongoing exploration efforts at Alotta, with assays still pending for additional samples and other holes, indicate potential for further positive outcomes. The strategic development of the La Estrella Coal Project, expected to yield its first coal by year-end, also contributes to the company’s growth prospects. These factors collectively support the positive outlook and justify the Buy rating with a target price of $1.00 per share.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FRGGF in relation to earlier this year.