Northwire Canada EditionMonday, August 3, 2026
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S 0.140 +0.0% BNKR 4.40 −2.2% QRO 0.045 +0.0% VCT 0.075 +36.4% PPP 1.15 +0.9% LMG 0.390 +0.0% GRDM 0.140 +0.0% ABRA 13.58 −4.1% WHY 0.295 +1.7% HHH 3.94 −0.2% COS 0.060 +0.0% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0% S 0.140 +0.0% BNKR 4.40 −2.2% QRO 0.045 +0.0% VCT 0.075 +36.4% PPP 1.15 +0.9% LMG 0.390 +0.0% GRDM 0.140 +0.0% ABRA 13.58 −4.1% WHY 0.295 +1.7% HHH 3.94 −0.2% COS 0.060 +0.0% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0%
Drill Results

Forge Resources finds coal seam again at La Estrella

By The Northwire Desk — AI Analysis Jan 20, 2026 · 19:38 FRG · 0.54 Forge Resources Corp
FRG · Price

Executive Summary

  • Forge Resources Corp. provided an operational update on its La Estrella coal project in Colombia, confirming the re-encounter of a coal seam at the underground ramp face and the completion of resin injection enhancements to support tunnel stability.
  • The company highlighted a surge in global coal prices driven by increased demand in the US, China, and India, positioning La Estrella favorably within the current market environment.
  • Current market data indicates a blended FOB price of $177 USD per metric tonne, with metallurgical coal prices showing significant improvement since September 2025.

Key Details

  • Coal Seam Re-encounter: A coal seam was re-encountered at the development face of the underground ramp with a width of 1.1 metres.
  • Geological Context: This seam was first encountered in July 2025 (reported July 24 and Aug 13, 2025); the re-encounter confirms the continuity and geological potential of the La Estrella coal system.
  • Assay Status: No additional assays are planned as the seam corresponds to previously identified and characterized coal horizons with completed laboratory analysis.
  • Infrastructure Enhancements: Implementation of resin injection and self-drilling bolts in collaboration with Grupo A and Webber Mining & Tunneling to strengthen the main access tunnel.
  • Support Systems: The enhancement complements the primary support system consisting of TH25 and TH29 steel arches, timber lagging, and electro-welded mesh.
  • Market Conditions:
    • US domestic coal consumption spiked 7-8% over the past year to record levels.
    • China is commissioning new coal-fired plants; India's infrastructure expansion keeps global demand near 8.8 billion tonnes.
    • Tight inventories and robust power-sector demand are driving price increases.
  • Pricing Data:
    • Blended FOB price: $177 USD ($246 CAD) per metric tonne.
    • Metallurgical coal prices surged from September 2025.
    • Thermal coal prices remain steady at $120 USD to $95 USD per metric tonne.

Notable Quotes

  • "Underground development at La Estrella continues to progress steadily, and the re-encounter of a coal seam at the underground ramp face further strengthens our confidence in the coal deposit and the continuity of the coal system at the project." — P.J. Murphy, CEO
Read the original news release →

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