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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 geolithon Mar 08, 2021 6:13pm
112 Views
Post# 32748759

RE:Re: Fortune is in year 23

RE:Re: Fortune is in year 23This time line depends on where one works.  In the NWT once one exclude diamond mines where unlimited capital (cash and engineering, permitting etc) is available, and look to all non-diamond mine operations:

1. Fortune at Nico
2. Norzinc at Prarie Creek
3. Tyhee/GoldMining at Ormsby
4. Avalon and partners at Nechalcho
5. Osisko/Century Mining at Pine Point.

And add Gold Terra, Rover, Sixty to the mix.

None of these are in production but all were discovered 35 to 55 years ago.  Some have only had it for 15 years or so, but that's because they prior owners couldn't get over the hurdles and reach production.  Only Fortune is an original discoverer and still owns their asset. On average, it takes close to 40 years from discovery to.....wait, none of these are in production yet!

What might you think makes mines here so difficult to build.  Nunavut isn't so hard, the Yukon isn't so hard.  It can't be the cold, the remotness.  Must be something else that transends commodity and operators.

Saty tuned.
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