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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 southcountry2on Nov 20, 2021 1:31am
237 Views
Post# 34148889

RE:RE:Price and volume stock increases ?

RE:RE:Price and volume stock increases ?
Per Jim, Yes, I've been a steady buyer of Fortune .... for 3 primary reasons and perhaps a dozen secondary ones .... all of which are positive.

#1 With so many mega-battery factories now being built and all the major car makers going electric, the next step is to supply them with the resources to manufacture the product.  While long anticipated and somewhere over the horizon for the cobalt pioneers like us, that day has finally arrived. 

#2 After being stalled for much of the year, on September 1st, spot Cobalt broke out into a new up-trend as can be viewed on any recent chart.  In this short timeframe, the metal is up 30%.


#3  Using reverse logic, sometimes the reason to buy such a LOW priced stock with such a HIGHLY PROMISING future is that you just can't see how the price can go much lower.  If it can't go much lower, it pretty much can only go higher given the continuous flow of positive fundamentals as posted daily by Troy.

As most of us have experienced, the % gains and losses in penny stocks can be quite volatile.  It takes a while to metally adjust to such big moves.  It is also difficult "grasp" how a move of a few pennies can translate into a big % up move and a large profit.  But to substantially profit, you must do two things:  be able to mentally handle the volatility and own a LOT of shares. 

What am I getting at?  Only 2 months ago, Fortune Minerals was trading at .10 cents Canadian and today it is at .14 cents .... a 40% gain.  Bigger picture?  On 12-15-2020, the price was 6 cents .... for an 11 month gain of 133%.  I suspect few have noticed.


IMO, the Nico deposit is practically the ONLY SHOVEL-READY cobalt project in all of North America.  It is the PREMIER COBALT deposit.  It's not particularly a BIG deal, but it is the ONLY deal.  Kinda like finding a stand-alone 7-11 store in the desert.  The second best cobalt project is owned by Jervois Global Limited.  But it appears to be inferior on several accounts.  And what is in 3 rd place?  NOTHING that I am aware of.  All other North American projects are still in the exploration phase .... meaning .... many years into the future for first production .... if ever.

So Jim, that is why I have been a Fortune buyer. 
 
 
 
 
 
 
 
 
 
Bottom line:  I've been constantly nibbling away at buying Fortune shares since the U.S. 6 cent low of one year ago.  So at today's .13 cents .... that's a one-year gain of 116%.  99% of the penny stocks are not worth a second look.  But what about the remaining 1%?  
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