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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 DoasIsayon Aug 05, 2013 2:36am
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Post# 21649763

From the Arctos website

From the Arctos websiteA few Q's answered

How would the anthracite coal be transported to customers?

The anthracite coal would be transported by railway to Ridley Terminals at Prince Rupert where it would be put on boats for sea transport.  The train will run on existing CN track and its extension along the mostly completed rail bed (built 30 years ago) between Minaret and the mine.  There will be 2 loaded coal trains shipped every 3 days. 

What is the current status of the project?

Since 2008, Fortune has re-designed the project and formed the AAJV with POSCO. The AAJV is in the EA process  with a new project description.  It has resumed studies in the proposed mine area and has initiated studies along the proposed railway extension. The AAJV is looking to work with Aboriginal groups potentially affected by the proposed  project to exchange information, discuss concerns, and identify a path forward.


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