FSE: 5YZ WKN: A3E270
Forge Resources Corp · Frankfurt Trading: FSE: 5YZ | WKN: A3E270

Energy sovereignty and security.
The heavyweight German economy.Eight million livelihoods.The rapid growth of AI all under threat.

Coal is the solution now, securing growth, protecting supply chains, securing jobs and the communities on which they depend, and Forge Resources holds a fully permitted and at-scale Colombian coal mine located securely in the global supply chain that builds every German car, Bridge, factory and piece of industrial machinery.

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€1.03T
Coal Anchor
22.5% German GDP
52 PLANTS

Zero German mines
2,020 MW
AI Power Surge
4× by 2030
/ 01 — Germany Needs Coal Now

Europe's largest industrial economy has no margin for error.

Germany imports every tonne of coal it consumes. Steel, baseload power, and now AI infrastructure all depend on it — and Russia is gone.

Three forces lock the demand floor for at least a decade.

/ Card 01 · Metallurgical 01 / 03

Metallurgical coal builds German industry.

The German economy is built on steel, itself built on coal. The 7th largest steel producer in the world and the largest in Europe, producing more than 35 million tonnes a year, is one key reason why Germany is the largest importer of coal in Europe. The metallurgical coal it imports to make steel powers its industrial weight in automotives, construction, mechanical engineering, metalware and packaging and even renewable energy, industries on which the employment of four million people depend. And crude steel output rose 9% year on year in early 2026.

  • 35 Mt/yr · Steel output
  • 4M · Jobs supported
  • +9% YoY · Q1 2026
/ Card 02 · Thermal 02 / 03

Thermal coal keeps the lights on.

Germany's thermal coal is the indispensable stabiliser for both industrial production and daily life. Following the total embargo on Russian energy, previously 50% of supply, Germany has zero margin for error and remains absolutely dependent on Western-aligned partners like Colombia. The requirement is permanent: with no domestic mines, every tonne needed for the furnaces in Duisburg or the lights in Frankfurt must be imported. In 2025, coal generated 22.1% of all German power across 52 active stations. While renewables expand, coal remains the backbone; the government has formalised a 10 GW coal reserve specifically to provide the "firm capacity" that fluctuating wind and solar cannot deliver.

  • 22.1% · 2025 coal-fired power
  • 52 · Coal stations active
  • 10 GW · Formal reserve
/ Card 03 · AI & Sovereignty 03 / 03

Data centres make coal a sovereignty question.

Germany's data centre industry is growing at 34.38% annually, triple the global average, and cementing the nation as Europe's AI leader. In 2026, Germany designated data centres as "critical infrastructure", making the resources required to build and power them a matter of national sovereignty. This sector is a massive physical consumer of coal. A single 100MW hyperscale campus requires thousands of tonnes of high-purity steel (metallurgical coal) for its physical structure and cooling systems. At the same time, AI workloads demand "five nines" reliability (99.999% uptime), which wind and solar cannot guarantee. As AI capacity quadruples by 2030, Germany's coal-fired thermal power remains the essential "firm capacity" required to prevent a total grid crisis.

  • 34.38% · YoY growth
  • 4× · AI capacity by 2030
  • 99.999% · Uptime required
/ 02 — The Company Positioned For This

Forge's La Estrella Mine: The Strategic Artery.

The story of La Estrella is one of permitted security. In 2026, as Colombia enforces an administrative freeze on new exploration, Forge Resources holds a decisive advantage: a fully vested, 43-year mining concession (FLG-111). In a global market where new permits face a 15-year wait, if they are granted at all, La Estrella is a rare, untouchable legacy asset geared for production. For the German industrial heartland, this isn't just a mine; it is a secured energy artery.

/ Key 01

Top-Tier Quality

April 2026 lab results confirm a calorific value of 13,846 BTU/lb — the "gold standard" for Germany's 10 GW grid reserve and the high-heat requirements of the Ruhr's blast furnaces.

13,846 BTU/lb · April 2026 lab
/ Key 02

Dual-Market Versatility

With a Free Swelling Index (FSI) of up to 8 of 9, La Estrella's coal is dual-purpose — capable of forging German steel for the automotive sector and powering the AI infrastructure boom simultaneously.

FSI 8/9 · Coking + Thermal
/ Key 03

Underground Momentum

Operations are at full throttle. As of April 23, 2026, Forge successfully re-encountered coal seams at the active ramp face, with 24-hour shifts accelerating to meet surging European demand.

24-hour ops · April 2026
Figure 03 · La Estrella → Atlantic Corridor Hyperframe · 12s loop
Live · Colombia origin → Atlantic corridor → German steel mills 21:9 · 1920 × 823 · 12s loop

The Colombia-to-Germany corridor is the most efficient trans-Atlantic supply chain in existence. As the world's sixth-largest exporter, Colombia has spent decades perfecting the supply of high-grade coal to Western allies. This is not a theoretical route; it is a proven, high-capacity artery that has already replaced Russian supply to become Germany's primary energy stabiliser.

Step 01 · Origin

Established Transit Corridor

The mine is directly connected via high-capacity roads and rail to the deep-water ports of Barranquilla and Santa Marta on Colombia's Caribbean coast.

Road + rail · Barranquilla / Santa Marta
Step 02 · Route

The Route

Direct shipping from Colombia's Caribbean ports reaches the ARA hub (Amsterdam–Rotterdam–Antwerp) and Wilhelmshaven in just 10–12 days.

Caribbean → ARA + Wilhelmshaven · 10–12 days
Step 03 · Destination

The Infrastructure

By 2026, 18% of all German coal imports utilise this exact logistics corridor. Forge Resources isn't building a new path; it is securing its position within Germany's most critical energy bridge.

~18% of DE coal imports
/ 03 — The Investment Narrative

Mining the gap.

The investment logic for the German market is simple: Germany has sustained hunger, and Forge has the food. Three structural gaps converge on a single permitted asset.

/ Gap 01

The Supply Void

Germany's domestic production is zero. Its Russian supply is gone. Its energy needs are up 17%. The shortfall is structural, not cyclical.

  • 0Domestic production (Mt)
  • +17%Energy demand vs. baseline
/ Gap 02

The Permitting Wall

Global coal supply is being throttled by regulation. Existing permits — like La Estrella's 43-year concession — become a strategic moat that capital cannot replicate at any price.

  • 43 yrLa Estrella concession
  • 15 yrWait for new permits, if granted
/ Gap 03

The Valuation Gap

Industry majors are consolidating. The pool of high-caloric, permitted assets is shrinking. Supply-side contraction is opening a sharp valuation disconnect that the market has not finished pricing.

  • €1.03 TGerman economy fuelled
  • 2,020 MWAI infrastructure expansion
Why this disconnect matters

As industry majors consolidate holdings, the pool of high-caloric, permitted assets is shrinking. This supply-side contraction creates a significant valuation disconnect.

For energy giants fuelling Germany's €1.03 trillion economy and its 2,020 MW AI expansion, an operational producer like La Estrella is critical infrastructure in a market where alternatives have effectively disappeared.

Forge Resources is the bridge between Colombian geology and industrial sovereignty everywhere. Our goal is to provide the physical certainty that allows the world's most advanced economies to keep building, thinking, and growing.
PJ Harvey CEO · Forge Resources
/ 04 — The De-Risking Stack

Forge's four de-risking conditions converge.

The "Explorer's Curse" — constant share dilution to fund operations — is the primary risk in resource investing. Forge has engineered a structural solution: La Estrella's cash flow funds both operations and high-impact drill programs. The four conditions below are not bets converging by luck. They are the mechanics of a self-sustaining position.

01
/ The Offer

Revenue-powered implementation

The Explorer's Curse — constant share dilution to fund operations — is the primary risk in resource investing. Forge has engineered a structural solution: it will use cash flow from La Estrella to fund both operations and high-impact drill programs. This self-sustaining model protects shareholder equity while driving growth.

Self-funding · No dilution loop
02
/ The Timing

German industrial demand

Energy security is not a policy debate but a survival requirement. Germany's €1.03 Trillion industrial floor and its 2,020 MW AI surge have collided with a zero-domestic supply reality. Forge's high-BTU coal has a ready market in Germany, Europe, and aligned countries. By providing the firm capacity that wind and solar cannot, Forge transitions from commodity seller to strategic national-security partner for Europe's largest economy.

€1.03T floor · 2,020 MW AI surge
03
/ The Team

Institutional-grade execution

This is a proven playbook. With over US$1 Billion raised for global discoveries, and substantial talent drawn from Colombia's coal expertise, Forge's management possesses the institutional pedigree to navigate complex logistics and international regulation while building operations. From first drill to large-scale production, the team offers the technical and financial expertise required of a Tier-1 operator.

US$1B raised · Tier-1 pedigree
04
/ The Location

Safe, secure supply

La Estrella is a permitted mine embedded in Colombia's established industrial artery. Backed by a robust Colombia–EU Trade Deal, it offers frictionless access to Atlantic shipping routes — reaching the German grid in as little as 10 days. As the Colombian government restricts new permits, La Estrella's 43-year vested concession effectively eliminates future local competition.

10-day Atlantic bridge · 43-yr concession
/ 05 — The Strategic Upside

While La Estrella ships,
Alotta compounds.

Two cycles. One position. La Estrella funds operations and growth from cash flow; Alotta captures the upside of the decade's most critical price cycles — without dilution.

Dossier · ALOTTA / Au · Cu

A Tier-1 development pipeline, riding two cycles at once.

With gold testing all-time highs, Alotta anchors a high-value core: a 100% drilling success rate to date, including high-grade intervals of 105 g/t Gold. Simultaneously, the project targets the global copper deficit, now exceeding 500,000 tonnes — the structural shortfall driving the AI data-center build-out.

Alotta gives Forge exposure to a historic "Commodity Super-Cycle" without further share dilution. The downside is funded; the upside is held.

Strategic Update Formalized · March 2026 · Brussels
Memo · EIB / EU–CA Mineral Corridor

The corridor is now policy.
Alotta sits inside it.

In March 2026, the European Investment Bank formalized a partnership with Canada to mobilize private investment for high-standard projects that reduce strategic dependencies. Forge's Alotta project sits directly within this prioritized corridor — backed by the highest levels of trans-Atlantic cooperation.

The goal is to translate shared principles into practical arrangements that reduce risk.
Nicola Beer Vice President · European Investment Bank
/ 06 — The Position

The energy surge is here. The grid is at capacity. The asset is secured.

The window for ensuring firm energy capacity in Europe is fast closing.

When Germany's 17% energy surge collides with a 2,020 MW AI data-center boom, coal stops being a political debate and reasserts itself as the mandatory stabilizer of the €1.03 trillion industrial heartland, 8 million+ jobs, and the guardian of national security.

Investors who recognized the 10 GW coal-reserve mandate in early 2026 and the 34% annual AI growth trajectory were ahead of the game. While the broader market debated the transition, the physical reality of a German economy where 25% is dependent on coal — and Five-Nines AI power needs — was already rewriting the energy map.

Forge Resources is the strategic bridge.

/ Pillar 01 — Foundation

Permitted, producing, shipping.

La Estrella is fully permitted, extracting, and anchored in a direct Atlantic supply route to the German grid.

Permit FLG-111 · 24-hour ops · 10–12 day ARA route
/ Pillar 02 — Moonshot

Funded by cash flow, aimed at AI hardware.

Funded by La Estrella, the Alotta project sits in a Tier-1 Yukon district, providing the critical copper required for the AI hardware revolution.

Yukon · Tier-1 jurisdiction · Critical-mineral copper
/ Pillar 03 — Advantage

A team that has shipped this play before.

A self-funded model powered by a team that has raised over $1 billion across prior ventures and is currently executing at scale.

Self-funded · $1B+ raised · Executing now

The supply wall is structural.  The demand is non-negotiable.

That is the reality. Forge Resources is the position.
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FSE: 5YZ WKN: A3E270