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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 MoneyMan123456on Mar 05, 2022 2:57pm
119 Views
Post# 34487117

RE:RE:Two Options - Which is True

RE:RE:Two Options - Which is TrueI agree with most of your points, particularly ensuring a local supply of rare earth elements. It is just too bad that they didn't partner with either BHP billiton or Rio Tinto when they were more interested in Yellowknife. Can you imagine the cost savings and synergies if the administrative facilities in Yellowknife could also have taken on the Nico mine. Purchasing, logistics, finance, contracts, HR, all run by an experienced and set up miner already set up in the North. I'd like to see them partner with Rio Tinto as they close Diavik in a couple of years and transition their administrative and enviromental functions to Nico. It would be a win for the staff and could leverage buying used equipment and spares for cheaper. An already setup workforce can save lots of money and headaches.
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