There's been some interesting chatter about Fortune Minerals and their NICO project lately.
As you know, their option to purchase a refinery site in Alberta expired on June 30th. This is obviously a setback, but some folks are wondering if it might be a buying opportunity.
There are mixed opinions on why the option expired.
Some speculate Fortune Minerals might be aiming for a better deal under $5 million. Others are wondering if there are financing hurdles for the project as a whole.
The good news is Fortune Minerals is still negotiating with the seller for a new agreement. Their recent funding wins, including government grants and convertible securities, could help them secure a new deal.
What do you all think?
Is this a temporary bump in the road, or a bigger issue for the NICO project?
Will Fortune Minerals be able to land a new refinery site agreement soon?
By the way, there's more on Fortune Minerals, Aton Resources, and other resource companies in this week's Analyst Ideas report under "Resource Companies Under Coverage". Check it out to stay in the loop: https://www.researchfrc.com/content/analyst-ideas/post/109/hot-streak-for-ai-stocks-gold-miners-lag-mixed-bitcoin-outlook-