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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 uudamannon Feb 28, 2020 3:23pm
96 Views
Post# 30748736

FT's Market cap makes no sense

FT's Market cap makes no senseCurrently 25 - 28 million.

FT spent twice that amount on the Revenue-Virginius silver mine and the current owner (Aurcana) needs another 40 million USD to bring it into production. The mine is a worthless hole in the ground with a latest fantasy FS projecting 100 million in net free cash over a six year mine life.That 100 million does not include repayment of the 80 million USD sunk costs by Lascaux, the current 75% majority owner of the mine. 

It is obvious somebody or something has their thumb on the scales. I would presume Goad has a card up his sleeve. Somewhere, somebody made the wrong call.

Bullboard Posts