Fortune Minerals Limited. T.FT

FT ~ not a buy

[elitespooner]

https://seekingalpha.com/article/4368231-northwest-territories-gold-mines-2020-exploration-and-development-prospects

Time to consolidate the shares and spin off the exploration.

[Marketbeat]

The article is painting a different picture of Ft. it's not a gold mine but a cobalt mine.  33m vs 1.1 m...Now if by some miracle they fine more and it's enough to be a potential player, then great. But with 1 million oz of gold in relation to the the rest of the resources doesn't make sense to me to classify it as a gold mine...IMO.

[Marketbeat]

82m of cobalt sorry!

[red]

Interesting that there is recent sudden bid of over a million shares at .07 ....have not seen that in a while maybe we are being noticed lol - 

[reddog11]

It really does not matter how FT is classified except investors are looking for gold juniors and not cobalt miners presently. 1.1 million (probably more) puts the value of the gold above the value of the cobalt by about .4 billion. The author states the following..."I am a finance guy by trade, so I like to invest in projects that have pre-feasibility studies or preliminary economic

[elitespooner]

Makes you wonder why their putting an emphasis on gold exploration. The recent news release tells us how difficult he has raising capital, now not only burning shareholder cash but he's going after taxpayer cash... brutal

[Marketbeat]

I wouldn't go so far as to say he is "burning" tax payer money. The advent of these programs is to increase interest and keep companies vying to bring projectes into production. The government is well aware of the deteriorating nature of mining in Canada which is why we see initiatives like this and from a more general nature NRCAN.  At the end of the day FT is simply doing

[red]

There is a lot of info there, thanks Jim  MB, to your point " At the end of the day FT is simply doing what any others would do- grab free cash and try and improve the project economics. I give them top marks for this."  better said ....are doing...it's rampant in the mining and other industries/ business i don't know significance of all the info

[Jim1712]

This post has been removed in accordance with Community Policy

[uudamann]

How did FT botch this incredibly valuable asset? I recall Briggs, the current mine manager and narrator in the piece below, was the manager for FT during 2014/15. Now apparently the R-V mine is dripping with value yet Ft blew its brains out in the space of 9 months chasing the Yellow Rose Vein which was without value due a variable, low grade and discontinous mineralization. Now Brigss states it

[Jim1712]

This post has been removed in accordance with Community Policy

[uudamann]

100 + oz/silver per ton!! That is in excess of 1 oz. of gold per ton equivalent at current prices. Unheard of. And I am the conspiracist? You have to be a moron to believe that. At least they could have used another mine manager/actor in the video than the one that helped drive FT's ownership of the mine into the ground during 2014/15. There were 42 drill holes in 2016, when Lascaux owned the

[Jim1712]

This post has been removed in accordance with Community Policy

[uudamann]

When the terms of the Lascaux loan made the rounds, eyes narrowed and serpents' tails twitched. Just enough lipstick was applied to the pig to make to make the pen in which it wallowed familiar. Like a thousand other times. 

[Yellowknifer69]

Seriously Mann -  you have to get over this Lascaux fixation thing.  It is a distraction from the current state of affairs. I see that Barrick is flying high this morning.  I would Buffet's investment bodes well for the entire gold sector - maybe even junior exploration!   Who knows maybe it even peaks the interest for FT?  I think that NightHawk Gold (Indin

[red]

Agreed ....

[uudamann]

FIXATION? The R-V mine purchase and implosion organized with great skill by FT was a fast rolling fiasco which mgt has never explained and talked about other than a fleeting, anodyne soother that the veins were worthless. Suddenly, after glowing, multiple News Releases for 9 months, FT announced on July 5, 2015 that it lost 60 million with Arctos and NICO on the chopping block as collateral for