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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 uudamannon Jun 14, 2021 9:10am
201 Views
Post# 33380772

insider buying

insider buyingAurcana, the current owners of the Revenue silver mine, on their website claim 50 million was invested to build the underground mill in 2011. This engineering feat was performed during Star mines ownership who then sold this 'equipemnt' to FT along with a 8500 ft long 140 year old mine tunnel.

SRK in the FS of 2014 and 2018 makes a contrary claim the mill was built during 2013 by CH2M Hill. No SRK mention of the substantial costs.The mill was never commisioned as of 2019 and never produced significant silver revenues during FT's 2014-15 ownership based of SEDAR filings.

You do not need to own a lot FT shares.

Insiders know this.



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