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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 Spuds21on Dec 15, 2021 11:29pm
242 Views
Post# 34235419

Southern Canada concentrator....

Southern Canada concentrator....The NICO Project is comprised of a planned mine and concentrator in the NWT and a related hydrometallurgical refinery in southern Canada that will produce cobalt sulphate, gold dor, bismuth ingots and oxide, and a copper cement precipitate. The NICO Project is one of the most advanced cobalt development projects in the world outside of the Democratic Republic of Congo (“DRC”) to meet the growing demand in lithium-ion batteries powering electric vehicles, portable electronics and stationary storage cells. The NICO Project is a planned reliable, vertically integrated, and Canadian new supplier of cobalt products with supply chain transparency to mitigate concerns over the geographic concentration of production in the DRC and China and associated political and policy risks. The unique Critical Minerals assemblage of the NICO deposit includes primary cobalt, 12% of global bismuth reserves, by-product copper, as well as a highly liquid 1.1 million ounce in-situ gold co-product.
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