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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 Allmanon Feb 22, 2022 8:36am
90 Views
Post# 34449478

RE:New Thoughts on NICO

RE:New Thoughts on NICOFrom many indications, the demand for cobalt will be growing and robust for years if not decades to come. It's use goes far beyond Li-ion batteries and even new solid state battery designs require cobalt. I suspect that one of FT's issues is the amount of annual cobalt sulphate they plan to produce and battery and car manufacturers seeking much more. My belief in this is rooted in FT having considered increased mill throughput back in 2018/19, as well as a recently published trade article indicating that manufacturers are looking for something in the order of 10k t/y (vs FT's 1.8k). For this reason, it arguably could have been the catalyst for the latest drill program. This said, the world of cobalt has significantly changed since then and for the better as far as FT is concerned. Now, primarily for geopolitical reasons, governments and industry have recognized the need to not only identify cobalt as a critical mineral, but to secure and stockpile critical minerals from all local sources, and are starting to put their money where there mouth is. In addition you have the trajectory of cobalt and gold prices, the hugh potential of bismuth, another critical mineral, the significant potential of the NICO IOCG deposit and reserve growth, the permitted shovel ready mine, as well as the recently announced refinery site. All of this bodes extremely well for Fortune Minerals and their ship will imminently sail. IMHO
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