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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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

Fortune Minerals Ltd
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Post by ruffedon Feb 09, 2011 12:40am
337 Views
Post# 18099457

Interested in buying

Interested in buyinginto fortune but \i'm wondering where the money is going to come from to develop 2 mines.  I understand that Fortune is looking for a partner for KLAPPAN but where is the $ going to come from to develop NICO?   Maybe someone can help me with this.  They're looking at $200M to build a metals processing plant.  How much will this stock have to be diluted to have a producing mine that's making $?  I'm not trying to bash, just trying to get my head around how this is all going to unfold.  I undersand that these are 2 world class deposits but I'm just worried about dilution.


Henry
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Dealroom for high-potential pre-IPO opportunities