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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 The_Guruon Nov 07, 2014 9:38pm
342 Views
Post# 23109202

RE:8.5 million

RE:8.5 millionWe have to do a lot of assuming when considering the China Mining shares.  I think it makes sense they are selling all the shares they held since they need to deal with their own financial problems, if that is the case  they are selling 15 million shares.  It looks like we are about half way through the sell off.  To add to our missery we are entering tax loss selling season plus weak silver prices.

On the hopeful side, we should find out soon if the Northwest Territories have the funds to begin the work on the all season road.  That is the key for Fortune.  Build the road and the Nico mine will be built.  All that is happening now will be a mute point, painful but it will not matter.
Bullboard Posts