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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 BillArgento1on May 08, 2018 11:20pm
136 Views
Post# 28002246

RE:RE:RE:Today’s Fortune Cobalt News

RE:RE:RE:Today’s Fortune Cobalt News Obviously the SP is a real steal as an entry point.  But about the financing, I think it's just timing.  The company says in its news release from April 19, first must come the updated technical report on the new feasibility study on increasing the mill throughput rate by another 30%, which would be awesome for us and the company--freakin' 30% more! (worth the wait in my view).  The company says it's been working on confidentiality agreements with 25 or more prospective investors, meeting with potential partners in North America, Asia and Europe, and in talks with automakers, battery companies, other mining companies, banks etc. It's all in the news release.  So next in the timeline comes the technical report.  They expect to have that completed by the end of the second quarter--that's in less than two months from now.  Then after that they say they'll start negotiations with a short list of companies on financing.  I'm content to wait and hold.
Bullboard Posts

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