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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

Comment by peachbananaon Feb 08, 2021 5:15pm
159 Views
Post# 32507579

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:More insider trading

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:More insider trading My suspicion is that there's dissent between board members.

It was something "DukeJupiter" said: "Robin could get this stock over a buck ... ut if he wants to do it by mining he needs to pass the baton over to the big boys".

It's an unusual remark because, presumably, FT has been trying to find a "big boy" JV partner this whole time. What's weird about DukeJupiter's remark is that it characterizes the problem not as one of FT being unable to find a JV partner but rather as one of Goad being unwilling to cede control of the project.

It does make sense -- Goad's been at this for decades and it's conceivable that he's been an obstacle to any deal that involves him having to give up board seats. But this isn't something a member of the public would know.

It is nevertheless a stretch, I admit, to conclude that DukeJupiter is Ramsay. But if you an FT director who was frustrated by Goad's continuing obstinance, wouldn't you think of trying to take your grievances to the people?

>shrug<

(Alternatively, DukeJupiter really is an old man who has "slowly been building up over a millon shares over the last 6 years", who attends "the lunch room ... at Diavik", who will "retire in june hang up my hard hat for the last time", and who just really doesn't like Robin Goad.)
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