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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
Post by rospar2on Aug 27, 2018 10:17am
339 Views
Post# 28521700

FT/Tlicho Negotiations

FT/Tlicho NegotiationsFor Modestprogidy. The reason I asked you if you were the Tlicho counsel was because I was hoping to find out what the dispute is about. We know that FT wanted to finalize an agreement for right of way for the spur road, We dont know what the Thilco want.

After reviewing the available information this appears to be part of the last negotiation parcel titled by FT as the Participation Agreement with Tlicho Government .

Previous negotiations/agreements include:
      - NICO land claim settled with Tlicho prior to 2013
      - July 2013 the Tlicho and Federal governments agreed
         with a NWT review board recommendation that the NICO
         mine move ahead. ( From CBC report)
      - Cooperation Relationshio Agreement completed.

In the land claim settlement there is a provision for dispute settlement that calls for a 2 man staff (presumably NWTG staff) to settle disputes but the positions were never filled. As a back-up the agreement allows a judge to settle the dispute.

FT used this provision and in June 2018 the NWT premier tried to implement the judge option but that has generated another dispute between the NWTG and the Tlicho. After meetings with Tlicho representatives the premier delayed the judge option until this month. Hopefully FT and the Tlicho government have resumed negotiations on their own.

FT is also in negotiations with the NWTG on a Socio-Economic agreement that I believe could overlap the Participation Agreement.

There is no doubt that with reatively new First Nations governments adding a new dimension to negotiations three level negotiations will require a lot of good will.   GLTA  Bob
Bullboard Posts