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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

Post by Nyno122on Feb 09, 2021 6:34am
165 Views
Post# 32510251

Interesting news release

Interesting news releaseLONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (Fortune or the Company) (www.fortuneminerals.com) is pleased to announce that it has received indicative terms from a large waste disposal and environmental services company to dispose of the process residue from the planned refinery for the NICO Cobalt-Gold-Bismuth-Copper Project (NICO Project). This waste disposal company operates a number of facilities in western Canada and provided its quote after reviewing the chemistry and environmental characteristics of the process residue produced in Fortunes earlier pilot plant. The ability to dispose of the residue in an existing permitted facility provides Fortune with flexible options to finalize the preferred site for its planed refinery and reduces the amount of land that would need to be acquired as well as the capital costs for the refinery. This contracted disposal solution would also reduce permitting times, technical risks during operations, and eliminates long-term legacy issues associated with a Company-owned facility... ... Fortune received EA approval for a refinery site in Saskatchewan, but is looking at alternative locations in western Canada with the municipal industrial planning approvals already in place. They include brownfield sites with existing permits and facilities to reduce capital costs for the planned development. The Company is also working with Canadian government departments, several Provinces as well as the U.S. and E.U. for their support of a new reliable Canadian producer of Critical Minerals with supply chain transparency of metals from ore through to the production of value-added products. Hopefully news regarding the refinery to follow shortly.
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