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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Bullboard Posts
Post by ez33on Jul 16, 2009 12:01am
211 Views
Post# 16141452

STEP ONE SPECULATION

STEP ONE SPECULATIONI suspect an offer for fortune will be  forthcoming... Sprott has probably signed off on the imminent offering price and has handed over its shares accordingly....  I don't recall seeing provisions for a counter bidder but i will definitely reread the article again..... if sprott is theoretically happy with the as yet unannounced takeover price and has handed over its shares in the hopes of completing the transaction then I suspect we'll get an offer generous enough for sprotts liking... we should theoretically do well.... It would look like nico would be part of the deal so an added bonus in your theortical speculations might be factoring in a price for nico... the icing on the theoretical cake... just speculating 

i suspect the company will make a statement sooner rather then later

last question is about managemnet interest ... do they control enough shares to breach the 66% threshold.... do they have enough shares to nix the deal 33.3% plus one?
Bullboard Posts