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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Comment by redon Oct 09, 2020 9:29am
236 Views
Post# 31694864

RE:RE:RE:RE:Where is management?

RE:RE:RE:RE:Where is management?

Ft has a substantial inferred resource and that is a variable that someone thinks could use better more precise definition. The current survey will help with that and again it's going to add to either more Au/Co or Co/Au potential from when the previously known anomaly was discovered, by better defining with latest greatest technology.

For gods sake they were expanding a mine site road only to discover this copper situation which was enough to warrant further investigation......so while we have a well studied deposit and supposedly well understood deposit, we might be lacking in field subsurface understanding and could better define and increase our inferrred resource? Quite frankly in my view it's a bit embarrassing with all that has been said about the deposit understanding that we are just now better defining something that is 1 or so km from the main site. 

Being the optimist that I am and the confidence that I have in FT, I beg to differ on the effects of the news that will be comming there are not many choices as to the reasons why we would look to expand resources possibilities, other wise as you suggest with the previous survey in place we could have just jumped into a drilling program. 

With markets as they are, obviously the gold component has probably changed the immediate direction of a development and thank god we have a fair amount of that, safe to say with more to come, but I think also safe to say that cobalt, based on so many factors, will also be back at the market forefront. So potentially we could start out as a primary gold operation that would make financial sense the as the cobalt market comes to its expected and predicted rise, let alone the other electrification related components this site is made up of.
 

I am not seeing a Barrick type partner but a Rio Tinto, BHP, Newmont, Washington group type could very well fit the requirement of a technical miner that Goad says this project needs. Wishfull thinking? All four have deep roots here and all four looking at JR's the world over ..total speculation and wishful thinking on my part lol.

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