RE:RE:RE:Money dude. Here's my best stab at your pooh pooh of NICO lol, I'm only here because I started to dig into Fortune as I had heard they were about to report drill results and was thinking about investing. I was initially interested, but didn't get a warm and fuzzy feeling when I realized that this company has less employees then fingers on your hands.
I'm not suggesting anyone buy or sell based on my opinion. These are only my opinions, based on the documents I have reviewed and my own knowledge.
If I personally held stock in Fortune and had lost 60, 70, 80, or 90% of my investment, I probably would hold on and take it as a flyer in the hopes that something magical happens.
I wish someone could coherently defend the financials, because it superficially looks like an interesting investment opportunity.
Unfortunately with an average ore value of 145 $/ton, I don't see anyway to develop a vertically integrated operation to mine, concentrate and refine the contained metals. I wish Fortune would explain how this is possible to investors. A 10 year old FS does not cut it. Mining in the NWT is hard and expensive.
Fortune has 15 million in debt coming due in the next 1-3 years and it seems to me like they are having trouble funding a drilling program and updating the feasibility study. How are they going to pay this debt back.
Again, these are just my opinions and don't have much more to add. I'd love to read someone else's interpretation of the nico financials without simply referring with blind devotion to the 10 year old feasibility study.