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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 Jun 10, 2021 12:56pm
135 Views
Post# 33363153

RE:RE:Drilling

RE:RE:Drilling
there is a lot more on Nico to be found. The recent geophysics is starting to scratch the surface, but there is a problem with "make it bigger" approach. First, how much did it cost to find what they have found, and would you double that expenditure in the hopes of doubling the size of the deposit? Maybe not. And if you would, the mine and mill model would get bigger, and therefor more expensive. And the groups capable and willing to do this shrinks. Certainly no car manufacturer or end user does not have the expertise to build and run a mine, mill and possibly refinery. Sometimes starting small and low cost, proving operational benefits and then expanding is a better model to follow. Even if there is more to be found.
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