Diligence memo · auto-generated · as of July 3, 2026
Forbes & Manhattan Coal Corp.
Forbes & Manhattan Coal Corp. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Forbes & Manhattan Coal Corp. operates in Coal Mining, based in TORONTO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Forbes & Manhattan Coal Corp. has raised $23M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $12M on 2011-02-22.
Most recent recorded round closed around 2011-02-22.
Valuation (modeled)modeled
Provath models Forbes & Manhattan Coal Corp. at approximately $45M (range $15M–$243M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.00× the median modeled value of Series A Coal Mining companies in 2010–2012 (7 peers) — value vs value, same stage and era. Within the normal band (100% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 7 months.
Last raise 15.4 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 1.1× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 75% of Coal Mining peers (76 compared).
Modeled value ranks above 70% of those peers.
Closest niche peers: U.S. China Mining Group, Inc., America West Resources, Inc., Kangaroo Resources Ltd, Coalspur Mines Ltd, Unity Power Plc.
Peoplefiled
10 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.