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News Focus
Silver North Intersects 1.83 metres True Width of 1,088 g/t Silver, 3.90 g/t Gold (click to learn more)
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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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Comment by The_Guruon May 13, 2014 5:06am
539 Views
Post# 22553768

RE:100 miners on the payroll

RE:100 miners on the payrollI believe Robin mentioned they would be taking out cash advances on the company credit card at 21% interest to pay the employees.

Well, it does not take a whole lot of thought to determine that since the company will be cash flow neutral within a couple of months (any money invested directly by Fortune in upgrading facilities and production at the mine will be recovered from sales of silver), employees will be paid from revenues of the mine.  It is a profitable operation.
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