I noticed that FT finally received a buy rating in my broker Hopefully we see good things come out of 2022 (specifically the spur road built would be great :D )
The Analyst: Fundamental Research Corp.
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Latest update end of January:
TSX: FT Current Price: $0.14 FRC Fair Value Estimate: $0.54
FRC Opinion Positive – This is a major milestone for FT; the purchase of a site with existing infrastructure will be highly beneficial for negotiating project financing. Note that NICO (cobalt-gold-bismuth) is the largest primary cobalt deposit in North America.
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More information from FRC:
FT is advancing its NICO polymetallic project in the NWT to an updated Feasibility Study (“FS”).
The EV (electric vehicle) revolution is driving significant interest into EV metals. NICO (cobalt-gold-bismuth) maintains its spot as the largest primary cobalt deposit in North America. The U.S., EU, and Canada consider cobalt and bismuth as Critical Minerals.
FT completed an updated resource model and mine plan (developed internally with a third-party consultant), including a selective mining strategy to process high-grade ore in the first three years of operation. The impact of this will be higher cash flows during the first three years.
Geophysics conducted in 2020 indicated expansion potential of the NICO deposit, and delineated five high priority targets for followup drilling. A 13-hole/3,200 m drill program (costing $0.80M) is expected to be completed this fall.
(Has been completed awaiting results)
Management is in negotiations with various parties, with potential refinery site locations, for processing NICO’s concentrates.
The 97 km Tlich highway is expected to be operational this fall. This highway enables the trucking of NICO’s concentrate to Hay River or Enterprise, NWT, where it can be transferred to rail for delivery to a refinery.
(Has been completed, awaiting details on spur road)
We are expecting multiple catalysts for FT’s shares including finalizing a refinery site, results of the upcoming drill program, and the updated FS.