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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 Contrarian58on Sep 24, 2019 1:13pm
213 Views
Post# 30159572

RE:Waiting

RE:Waiting It's pretty clear what's going on. They don't want to release the updated FS until cobalt prices recover sufficiently to make the project attractive to investors. Can you blame them? If you were ever expecting a quick return from this project, it was inevitable that you would be disappointed. There will be a decent, if unspectacular, return from this project, if you can wait 4-6 years at a minimum, given current economic conditions. I am confident that the project will get built--eventually.  Let's not forget that this project is a significant chunk of the world's bismuth reserves, in addition to cobalt and gold. Somebody's going to dig it up.
Bullboard Posts