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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 redon Jan 08, 2022 9:31am
242 Views
Post# 34295904

What’s it gonna be …

What’s it gonna be …

An new project brief updated or news ? It's interesting that back in the December project brief we seem to have slipped away from talking about a site with existing facilities, of which I can only think was Sherrit in Edmonton who already produces cobalt from Cuban ore.....maybe there was site size issues with Sherrit...with the NDAs we may never know.

however Sherrit does have a substantial technologies division and designs processing facilities the world over and could still have some involvement in our project from that design standpoint.

our December project update reported apparent " site finalization" and must be eminent this time and I guess won't be revealed in a project brief and will have to be news. It would seem to me that a site while good for FT would also likely have to good for a number of other potential parties as I don't see Robin just winging it based on acces to labour and low power costs ...so there has to be more to this and the question remains who and how many may be involved.

For sure governments would have to be involved in that site as we are not going to select a site then seek approval for the project or would we ?  I doubt it, so there are a lot of arms to this. Clearly a brownfield site would be in the program.

Robin has previously stated power costs were a factor for the project and he apparently had a good deal in Sask. However given the failure at langham and lack of gov support in the final hours, I am questioning if he would go down that road in Saskatchewan again which puts me back to Alberta somewhere and if so puts me in the Lloydminster area as they have some huge brownfield sites and are away from heavy taxation. Would the ab gov participate and help to reduce operation costs to attract the development ? 

I think reasonable, besides buildings much of this process facility will be built in Modules ( likely in edmonton where there is lots of labour) ) which seems to be a trend based on what we see that they can haul on a hiway from point of manufactuer to a site. 

regardles I gues this site is the big news that must come out but what tentacles are attached will be interesting and I just don't see it being announced without a bunch of good strings attached coupled with some additional deposit info? Gotta be soon. 

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