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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 toroshtoon Jul 03, 2015 5:44pm
161 Views
Post# 23890828

RE:RE:Great deal for Lascaux

RE:RE:Great deal for Lascaux
Yes, Lascaux got RSM served on a silver platter, no pun intended...
What baffles my mind is how come silver miners could not bail FT for a fraction of what it would cost acquiring the mineral resource and a brand new operating mine.
You read of the millions that prospectors pay for other less promising properties, let alone operating mines, and no one bid for this low-hanging fruit.
I am sure the relatively high u/g mining cost was part of the reason and perhaps the fact that RSM is located in the US and not in Bolivia or Peru kept them away. It is amazing how low we have reached..
Bullboard Posts