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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 cwDeicion Jan 24, 2018 11:44am
108 Views
Post# 27423807

RE:RE:RE:RE:Back to low 20's

RE:RE:RE:RE:Back to low 20'sWell, EVs would only cost 20% more even if Lithium prices doubled and Cobalt prices triple, if I remember the Uranium legend's lecture correctly. And that's if there's no further efficiency gains in batteries or cars at all. Plus I don't think that took 8:1:1 chemistry into account.

Not that I believe cobalt won't be replaced in 10 years (5 for research, 5 for facilities). It will. But cobalt should still be worth 10/pound after that, the mine would still be profitable, especially with the continued metals super cycle, the price of bismuth and copper should continue to rise. I don't know about gold, but I expect it to maybe reach 1400-1500 by 2023.

If the supercycle turns against us the mine would have to be temporarily shut down, but to be frank I'm planning to sell at least one third of my shares after construction of the road begins, and another third when offtake financing arrives. 
Bullboard Posts