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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 May 19, 2021 9:45am
114 Views
Post# 33229124

Activity in the market-

Activity in the market- TORONTO, May 19, 2021 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. ("First
Quantum" or the "Company") (TSX:FM) today announced that it has entered into a
binding agreement to sell a 30% equity interest in the Ravensthorpe Nickel
Operation (“Ravensthorpe”) in Western Australia for cash consideration of $240
million to POSCO, one of the world’s largest steel producers (the
“Transaction”). First Quantum will retain a 70% interest in Ravensthorpe and
continue to be the operator. The proceeds of the transaction will be used to
reduce the Company’s debt. In addition to the Transaction, POSCO and First
Quantum have also agreed to evaluate a strategic partnership to produce
battery precursor materials from production at Ravensthorpe.
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