Fortune Minerals Limited. T.FT

The Chinese Impact, Good Or Bad?

[Lotten]

Are the hands of Mr. Goad tied up in some way?

A strange question to ask perhaps, but still worth some thoughts in my opinion.

Since Procon arrived in 2013 the progress of Fortune Minerals has more or less stopped. The company didn't succeed with their expected kick off. I won't be digging in the reasons, but the fact is that afterwards the progress has been slow. In fact very slow.

So what influence has the ownership of Procon had on Fortune these years? They have reduced their ownership stake from 19.4% to just under 10% today. (correct me if I'm wrong) Why? Don't they find the investment so interesting anymore? Don't they have the financing capacity needed to keep up their ownership stake? Or is there other reasons?

The questions above are off course just speculations, and I don't conclude one way or another.

Have a nice weekend!


https://www.fortuneminerals.com/news/press-releases/press-release-details/2013/Fortune-Minerals-announces-strategic-investment-by-Procon-Resources-Inc/default.aspx

https://www.forbes.com.au/covers/innovation/the-miners-digging-to-crack-chinas-rare-earth-stranglehold/

https://www.nationaldefensemagazine.org/articles/2022/8/3/united-states-seeking-alternatives-to-chinese-cobalt

[elitespooner]

... maybe some new voting power with recent debt transaction

[AbuBaba]

What I've never understood is how Goad got the rights to Arctos in the first place. Why Goad and not a well-established mining outfit?

[parahyangam]

Conoco-Philips invested 90 million in Arctos alongside millions for a rail link provided by the taxpayers of BC.  Then Conoco hands it over to FM for 3.3 million. What would POSCO have given them? Or Teck Resources?  Could Conoco have asked for and have kept a continuing interest in a 500 billion dollar resource containing a scarce global resource. Would the NWT government, operating

[geolith]

Goad also got the rights to the port in Prunce Rupert i believe.  The government reneged on that later on.

[AbuBaba]

Oh dear. Goad is either a brilliant con or one unlucky guy.

[parahyangam]

FM has had 300+ million invested in Arctos and NICO by its own efforts and various parties more like 500+ million if one adds in supporting infrastructure by 3rd parties, namely provincial and territorial governments Then, a debenture that is a miniscule, barely visible fraction of that value waits for seven years and then exactly one minute to midnight converts and 70 million shares at 8

[NJ1985]

Thanks for this history lesson. if you think there is value here you should invest dilution was the only obvious solution- that's why we are still trading lol. Robin goad wasn't gonna lose the company over 12 mill- not this year at least. One financier converted their debt to shares- so it was a win for them.  The other financier extended to 2023.  juniors need to

[Marketbeat]

I think nj is somewhat right.  realistically- they have a 12 month life line- assuming they can pull something together by then, they will have another 12 months to get a FS complete.  so potentially 24 months before we start seeing or hearing financing announcement. Assuming no one will proceed without a current FS to support project economics. so I think someone mentioned a