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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 uudamannon Oct 13, 2020 9:05am
192 Views
Post# 31706247

It's coming................

It's coming................FT produced no revenues during the 14 months it owned and operated the Virginius-Revenue silver mine in Colorado. That means FT never produced any silver. This is not surprising since the mine had no production for 120 years. FT also severely underestimated the funds required to bring the mine into full operation by 30-35 million USD (including 5 million USD to upgrade the mill). What the H*LL was management thinking! Could ProCon have been this incompetent? Remember that FT pledged Arctos and NICO as collateral for the Lascaux loan.

Nobody is this stupid. NOBODY.
Bullboard Posts