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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
Comment by letternon Oct 25, 2011 1:39pm
313 Views
Post# 19179637

RE: At Present, No News Will Make This Stock Move

RE: At Present, No News Will Make This Stock Moveagreed; the only catalyst that will significantly move the s/p is permit(s) in hand and/or a takeover offer - hostile or friendly. We will be lucky to have any permits by 2014 let alone production. Nico is too complex; the road, First nation negotiations, the metallurgy, open pit/underground, transportation, multiple sites... my point is, even with the "advanced stage" of developments this project is a long way off. I am surprised that the company has never decided to split and spin off Nico. I think this would create a greater synergy that would allow greater investor/investment opportunity.
Unfortunately ( or fortunately-depending on how you look at it) there has been a ton of work to get this project to where it is; trying to dispose of it now to enhance and streamline Klappan is counterproductive as little of the intrinsic value of Nico would be realized. Translation- no one is willing to pay premium for a project such as Nico (see above reasons). Patience is required; I guess. 
Your thoughts anyone? I need something positive here; Is there still hope?
Letter
Bullboard Posts