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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
Comment by ez33on Sep 24, 2009 10:18pm
308 Views
Post# 16337238

RE: cmr dumps 3.8m ft

RE: cmr dumps 3.8m ft
I would say the chinese mght have been told to reduce their ownership so that they couldn't block a complete buyout should the bidder proceed to make a buyout offer... Maybe they were sold back to sprott... and that will come out in due course... something is up
cnwgroup

China Mining Resources Group Limited - News Release

  • Press Release
  • Source: China Mining Resources Group Limited
  • On Thursday September 24, 2009, 9:20 pm EDT

VANCOUVER, Sept. 24 /CNW/ - China Mining Resources Group Limited ("China Mining") announced that as of September 23, 2009, it has indirectly disposed of through its wholly-owned subsidiary, Best Tone Holdings Limited ("Best Tone"), 3,871,500 common shares (the "Shares") of Fortune Minerals Limited (TSX: FT - News; the "Company"), constituting 5.67% of the issued and outstanding shares of the Company. China Mining now has beneficial ownership and control over 5,414,300 shares of the Company, which represents approximately 7.93% of the issued and outstanding shares of the Company.

The Shares were disposed of through the TSX in the normal course of China Mining's investment activities. China Mining may, directly or indirectly, at any time and from time to time, increase or decrease its beneficial ownership or control or direction of the Company's securities depending on future economic or market conditions.

    
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