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Bullboard - Stock Discussion Forum Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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... see more

TSX:FT - Post Discussion

Fortune Minerals Limited. > LUMP OF COAL
View:
Post by parahyangam on Oct 02, 2022 7:20am

LUMP OF COAL

Why?
 
https://www.canadianminingjournal.com/news/mount-klappan-deposit-gets-closer-to-reality/

Why was FM tapped to be owner of the world class, strategic coal asset at Mt Klappan?

Conoco-Philips and the BC government should logically have recruited POSCO given their large, up front capital investments. The future value of this asset is enormous. BC government has spent a fortune preparing the infrastructure.

FM had no revenues and NO experience in building out and then operating a huge asset requiring 500 employees.

If there was any proof needed that FM was the wrong choice by a mile, FM proceeded within two yrs of acquiring Arctos to do a face plant into a worthless, 140 yr. old silver mine. DID THIS JUST TWO YRS after acquiring Arctos. 

Who is the leger-de-main?

 
Comment by geolith on Oct 02, 2022 10:45am
And Fortune also owned the Prince Rupert deep water sea port for a while too I believe. Fortune was quick to see opportunities others missed. Perhaps the Revenue Mine was misrepresented to them when it was acquired. Maybe this is where one should look for what went wrong, or at least started to go wrong.
Fortune Minerals Limited.
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