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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 Dec 22, 2014 3:26pm
293 Views
Post# 23257080

RE:The Mine

RE:The MineNot out of commissioning on schedule resulting in a major cash burn at FT.
Costs are higher than expected.
Cash burn has increased resultig in the need for a financing of some sort.
No set schedule as to when it will be out of commissioning, however, I believe first quarter 2015, just don't have any guidance as to when.
No revenues until it actually starts producing.

Once we get through all this schmutz it should be nothing but upside to the stock given we have crashed and burned badly at this point.  I doubt we will get much of a sell off when the financing is announced since those inclined to sell have already done that.
Bullboard Posts