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Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.


TSX:FT - Post by User

Bullboard Posts
Post by jenkinjton Sep 05, 2010 12:03pm
387 Views
Post# 17416410

Taicho position?

Taicho position?I took Phoenix trader's comments seriously a month ago and realized how little I knew about the ins and outs of the new mining reality on aboriginal lands. I spoke to Robin Goad, CEO, and naturally he was positive about the negotiations with the Taicho a couple of weeks ago. I have been trying to reach Chief Rabesca and Chief Daniels without much success, to find out the aboriginal position. As Fortune's mine has been grandfathered and therefore exempt from the Taicho government, it appears that the Taicho have been attempting to delay or even bankrupt Fortune so their mine will revert to a new mine, thereby coming under the control of the Taicho Gov't. I wonder if this is so. Should Fortune ever need a further private placement it might be beneficial to have the Taicho invest (if they have any funds) at a favourable SP for warrants that could be exercised in 2013 or beyond. If the local people were investors in this project it would likely move forward at a much more rapid pace. GLTA
Bullboard Posts