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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 uudamannon Jun 14, 2021 9:10am
192 Views
Post# 33380772

insider buying

insider buyingAurcana, the current owners of the Revenue silver mine, on their website claim 50 million was invested to build the underground mill in 2011. This engineering feat was performed during Star mines ownership who then sold this 'equipemnt' to FT along with a 8500 ft long 140 year old mine tunnel.

SRK in the FS of 2014 and 2018 makes a contrary claim the mill was built during 2013 by CH2M Hill. No SRK mention of the substantial costs.The mill was never commisioned as of 2019 and never produced significant silver revenues during FT's 2014-15 ownership based of SEDAR filings.

You do not need to own a lot FT shares.

Insiders know this.



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