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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 redon May 14, 2021 7:54am
133 Views
Post# 33201915

RE:BOD

RE:BOD

Your right ...it would be interesting and at same time we can make a reasonable assumption that given the hard sell part of this project at some levels, the easy sell part is the gold.....when FT told us they were refocusing a bit and looking to get as much gold as possible, also telling us something, my guess is that the BOD would see how critical that is in today's market and ways and means from both mining and financial aspects to achieve it and what it means to the company and a potential partner.

if we had no gold in the way that we do this would be a bit tougher sell ....not impossible ( given what's going on in the battery metal space) but certainly harder .....I think the reality is that while maybe we Shouda coulda woulda been more focused on the gold earlier we could be in a different space today ....it takes time to re evaluate how and make changes and I have to believe has been part of the focus  of the entire team in addition to solving the processing solution we need.

For a partner There is lots of money in this with the cobalt and other products but the gold is as good as money in the bank and getting it and as much as possible as quickly as possible out of the ground and actually into the bank is key in the mining and processing solutions we need and what financiers / partners will want. The FT Nico deposit is complicated processing and unique and we are going to share in that.

RG and Co have had a year or so to develop that plan of attack and is at and to the point where they need to share more with us as our guessing and what they are actually doing needs to come together.

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