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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 15, 2015 10:51am
509 Views
Post# 24292934

RE:Big loss down 17% Fortune minerals in survival mode ???

RE:Big loss down 17% Fortune minerals in survival mode ???No doubt they are in survival mode, although I do not think that was triggered by a $0.025 share price.  Survival mode went into full gear when the company was within touching distance of extinction about 5 months ago.  They were literally shut down and their private equity partners could have taken everything from them just by turning down the restructuring plan. 

Now they are diluted with well over 200,000,000 shares outstanding, very little money in the bank, and realistically no hope to get the mine in the NWT financed.  This stock needs to be consolidated 20:1 and refinanced.  Otherwise, this is going nowhere.
Bullboard Posts