Fortune Minerals Limited. T.FT

Whati NWT

[uudamann]

411 million $$  is being expended to bring on all season road to a remote community of 500 people who are engaged primarily in hunting and trapping with a bit of seasonal tourism. There has been a functional local airstrip at Whati and a winter road good for 8-9 months of the year. Whati has managed to remain alcohol free because access has been limited and could be controlled. This might change with an all season road and access to the bright lights of Yellowknife.

The NICO mine and property were developed without an all season road 20 years ago. Workers were able to get back and forth from their communities, local and distant. Ditto for the heavy equipment.

Why the road? 400 million is a lot of money. It might bring more problems than good. There is no heavy industry in Whati.

[red]

Because there is a lot more out there than FT - in its own right.... this is a road to riches as well and will allow a lot more exploration, while satisfying the FT mine requirements.  That price tag includes road maintenace over the next 28 or so years and is about half of the cost of the project. Winter roads and related risks and not cheap either. warming climes, road late openings and

[Jim1712]

This post has been removed in accordance with Community Policy

[KillDozerD9]

the banks going to be alot more likely to lend money to  proposed mine with year round access rather than something with limeted acess. How are you supposed to get parts in for a major breakdown in the summer if theres no road?? shut er down till i freezes 

[uudamann]

A lot more buried at NICO than the disclosed, current 5 billion polymetallic deposit. A lot more. All kept under tight wraps. For strategic reasons that far transcends the short-time aspirations/greed of the financial markets. LMAO re-reading the 2014/15 FT news releases and the SEDAR filings. Love that 52 minute audio interview May, 2014. For good reasons no video available. Real good thigh

[red]

Please continue to work on the road to get it done - given contracts in place its a done deal - let us know when you start the spur road ....but historically we use air frieght when we cant use land means. 

[KillDozerD9]

have no idea whats happening with after the road, all i know is fortune has alot of resources in the ground there i did the math as opposed to rover metals cabin lake trading at the same share price value 100,000 ounces of gold compared to FT 1.1 million, kinda a no brainer. Smartest thing Ft could have done was wait out this road saves them almost half a billion  

[KillDozerD9]

yes but its nearly impossible to airfreight massive lng generators

[KillDozerD9]

plus looking at there mining fleet its pretty small low cost 2 medium size loding units 988 loaders or 390 excavators, D10, 6-8 773 haul trucks, Grader and some other support equipment can still move a decent volume due to the fact i would imagine it will be short hauls to the crusher im going to say there open pit gear will cost them only around 15-20 million