Forsys Metals is a Canadian mining company with gold and uranium operations in Namibia, particularly the Norasa uranium project. As of November 2011 the company had market capitalization of about CDN$55 million. Forsys was listed on the Toronto Venture Exchange in September 2004, and moved up to the Toronto Stock Exchange in October 2006. In July 2005 Forsys acquired a 90% interest in the Valencia uranium deposit in Namibia and in March 2007 raised its position to 100% ownership. Based on prospecting on the property, Forsys filed a technical report estimating Valencia reserves in June 2007. After clearing environmental requirements, in August 2008 the Namibian government granted Forsys a 25-year mining licence for Valencia. In November 2008 George Arthur Forrest attempted to buy Forsys Metals through a subsidiary of his Forrest Group, offering CDN$579m. The company's management supported the offer. The deal foundered in September 2009. Forrest had not been able to find financial backers that would be acceptable to the Canadian Federal government. There was speculation that Forrest had looked for funding to South Korea, or possibly Iran or North Korea. Wikipedia