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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

Post by Marketbeaton Sep 25, 2020 6:43am
166 Views
Post# 31618873

Food for thought?

Food for thought?
 
Question: do you think there were ulterior motives for Musk saying no cobalt in batteries? 

 

The industry seems to think cobalt adds too much stability to the cathode so it can’t currently be engineer out. I’m not saying it will be critical forever, but Musk’s actions don’t seem to align with his statements (signing the fair alliance and securing the contract). At battery day there was a vote proposed by shareholders for Musk to disclose any human rights issues with regards to its supply chains. We know there is an issue with cobalt sourcing, so could it be that he said that he will eliminate cobalt to appease the shareholders who are looking for full disclosure when it comes to supply chain procurement?

 

My personal opinion is that this was a ploy to distract from the fact that Musk is currently at the whims of the cobalt market and its sourcing practises. By saying no more cobalt (but not when), he is able to satisfy some of the bigger concerns that shareholders may have with regards to human rights issues. 

 

Thanks again for your input!
 

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