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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 sirfartaloton Feb 15, 2021 2:24pm
131 Views
Post# 32568980

Fluff off the cuff

Fluff off the cuffInteresting information / read.
Some fun with numbers when one takes the approximate gold equivalent ounces for all minerals multiplied by the $U.S. per ounce for P&P,  divided by the fully diluted share count.  I'll let you do the math for fun.  Just rough ball park pencil and paper fun.
Please correct me if I am wrong, but I don't think the article includes the Sue-Dianne Deposit in the reserves ? 

https://www.newswire.ca/news-releases/fortune-minerals-announces-updated-mineral-reserves-and-positive-feed-study-results-confirming-nico-economics-510439941.html

https://www.munknee.com/how-to-value-a-junior-miners-gold-in-the-ground/

https://www.fortuneminerals.com/investors/share-structure/default.aspx

Gives me hope the project for resource ounces in ground, and green new deal enviroment has the chance to make long time shareholders whole, and perhaps even make a little money.

Good luck to all shareholders.


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