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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 reddog11on Jun 24, 2021 10:24am
187 Views
Post# 33441018

RE:RE:RE:RE:Refinery Again

RE:RE:RE:RE:Refinery AgainI feel very strongly no matter how vertically integrted FT wishes to be, the cost of the refinery just simply won't happen. Building a refinery is not a no risk propositi0n either. The amount of dilution we would need as well as owing on bonds could wipe us out if the price of the commodities went South as they did a few years back and few saw that coming.

I would far rather make a little less with virtually no risk, the go into HUGE debt for a possibility of a making a little more.

...and honestly we will not find an institution willing to put up the cost of a refinery for a company like FT. Simply won't happen. I WISH and DREAM the management could see this and just mine the ore and let us recover our investment and make something from this mine also. I personally am shocked they can't see this. Doesn't leave me feeling very hopeful with our team.

Oh well..I could sell here and be gone, but I keep hoping someone will wake up about this.

RD
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