RE:RE:RE:RE:RE:RE:RE:Ecobalt Feasanility study out. Fortune Minerals' first production of cobalt could possibly be in only 2 years from now. The company website says NICO "Construction Start planned in 2018". They don't necessarily have to wait till the all-season road is totally completed to ship out concentrate. During at least the first year of construction, they plan to use the existing winter roads. They've already improved and expanded the roads and lay-down areas at the mine site in prep. for the arrival of supplies and materials. And they've already got the permit to build the 50-km. spur road between the mine and Whati.
Fortune has already invested over C$115-million toward NICO development, including about $20-million in pre-production development that's already completed on 2 km. of underground workings.
At last check, Fundamental Research issued a "buy" rating on Fortune Minerals with a target price of C$0.85 per share.