01:44 PM EDT, 09/24/2025 (MT Newswires) -- Forge Resources ( FRGGF ) on Wednesday detailed construction progress at its fully permitted La Estrella Coal Project in Santander, Colombia.

The company highlighted the arrival of key heavy equipment to support automated, mechanized operations and major advancements in camp construction for its expanding underground mining workforce. It has taken delivery of a fully paid-for Panzer conveyor system, now located on-site at La Estrella.

It said construction of the initial mining camps at La Estrella coal project is now 85% complete and is continuing to advance on a purpose-built Mechanical Station designed to accommodate the site's energy generation systems, and pneumatic compressor.

Forge also closed a non-brokered flow-through private placement and will issue 0.91-million units at $0.55, raising $0.5 million. Each unit consists of a flow-through share and one half of one three-year transferrable warrant to buy a common share for $0.70.

Shares of the company were last seen up$0.01 to $0.45 on the Canadian Securities Exchange.

Price: 0.45, Change: +0.01, Percent Change: +2.27