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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 tresspaseron May 09, 2017 4:32pm
127 Views
Post# 26222871

Interesting verbiage to parse...

Interesting verbiage to parse...Another tidbit of information:

https://www.reviewboard.ca/upload/project_document/EA-1617-01_Project_Description_Report_2016_.PDF

Section 9.2.2 2 Potential Future Projects FORTUNE MINERALS LTD. NICO MINE
Page 207

"Fortune Minerals indicated that development of the mine could not begin until a public all-season road was built that would connect the community of What to Highway 3 as constructing an additional 100 km of road themselves did not make the project financially feasible. If the proposed TASR is constructed, it will support Fortune Minerals’ ongoing efforts in procuring financing for the NICO project and construction of the private haul road and mine would most likely commence simultaneously along with the proposed TASR by initially utilizing the T ch Winter Road System."

Wording is hard to parse. It seems to me that FT starts the process of building the secondary road AND the mine simulataneously (using the Ticho Winter Road System).  I would take that to mean that once TASR starts processing, FT starts w/ the secondary road, then the mine. So in 9.5 months, they can start to look for financing.

Oh, so confusing....


Bullboard Posts