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Forge Resources Corp
Symbol FRG
Shares Issued 82,700,244
Close 2024-10-21 C$ 0.59
Market Cap C$ 48,793,144
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Forge's Alotta contractor says drill move justified

2024-10-21 20:34 ET - Street Wire

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by Mike Caswell

Full Force Diamond Drilling Ltd., a contractor that was working for Forge Resources Corp., denies that it did anything wrong in removing its drill from Forge's Alotta property. Forge is suing over the drill's removal, claiming that Full Force had agreed to leave the equipment in place. The company says that it will have to push back its drill program at Alotta and pay to have another drill moved to the site.

The denial from Full Force comes in response to a lawsuit that Forge filed on Sept. 10, 2024, in the Supreme Court of British Columbia. The company complained that Full Force entered into a contract on May 23, 2024, in which Full Force was to move one diamond drill to Alotta for a spring program. Upon completion of the program, the drill was to remain in place until the results came in, the suit claimed.

Despite that agreement, Full Force removed the drill on Aug. 9, 2024, and did so "unilaterally and without the consent" of Forge, according to the suit. Forge said that it had planned to resume work in September, 2024, but has been unable to find a suitable drill. The company is seeking court-ordered damages, plus legal costs and interest.

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