RE:RE:RE:RE:RE:/ 10/08/2013 Issued Capital: 150,526,976
Fortune Minerals has concluded its 2013 summer field work at the Company's Arctos Anthracite metallurgical coal project site in northwestern British Columbia ("BC").
To date, over $100 million worth of work has been completed to safely advance the project, including funds dedicated to supporting local community involvement. The project has the potential to generate $10 billion in revenues and $900 million in combined federal and provincial taxes over the mine's expected 25-year lifespan, while creating over 500 high-paying jobs and employment for a 1,000 more in supporting activities
05/05/2015 Issued Capital: 222,077,580
Fortune Minerals and POSCO Canada Limited ("POSCAN") are pleased to announce the completion of an agreement with the British Columbia Government with respect to their coal licenses located in the Klappan area of northwest British Columbia, Canada (the "Arctos Project")
Pursuant to the agreement with Her Majesty the Queen in Right of the Province of British Columbia (the "Province"), and British Columbia Railway Company ("BC Rail"), the AAJV has sold its interests in 61 contiguous coal licenses in the Klappan, totaling 16,411 hectares, to BC Rail for $18,308,000.
Fortune will use its $9 million share of the funds from this transaction for working capital and to repay debt.
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December 18, 2005
FORTUNE MINERALS of London, Ontario, has agreed to purchase the processing facilities, other buildings, spare parts and inventory from the Golden Giant mine at Hemlo. Fortune will pay $3.3 million for the assets, which will be re-erected at its NICO gold-cobalt-bismuth project in the Northwest Territories.
Oct. 14 2010
Fortune Minerals is pleased to announce that it has completed the salvage of buildings and equipment from the Golden Giant Mine at Hemlo, Ontario. The Golden Giant Mine facilities were purchased, dismantled and removed from the Hemlo site at an approximate net cash cost of $18 million
Aug. 26 2015
Fortune Minerals is pleased to announce that it has sold the remaining equipment it owns from the Golden Giant Mine at Hemlo, Ontario for proceeds of $415,000. This equipment was initially purchased to be used at the proposed NICO gold-cobalt-bismuth-copper development in the Northwest Territories and Saskatchewan, but is now redundant because of changes to the engineering of the processing facilities.
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08/20/2014
Fortune Minerals announces that it has entered into an agreement with the owners of the Revenue Silver Mine ("RSM") in southwest Colorado, U.S.A. to amend the terms under which it can acquire the remaining interest in the mine with lower payment terms under an accelerated schedule. Fortune has also executed term sheets with Lascaux Resource Capital Fund I LP ("Lascaux") to provide US$35 million to finance the acquisition under a metal prepay facility that is repaid with a fixed schedule of metal shipments from the RSM plus interest over a 4-year period.
07/03/2015
Fortune Minerals reports that its wholly-owned subsidiary, Fortune Revenue Silver Mines, Inc. ("FRSMI"), the owner of the Revenue Silver Mine (the "RSM") in southwest Colorado, has received notice from LRC-FRSM LLC ("Lascaux") that events of default have occurred under the Amended and Restated Senior Secured Metal Prepay Agreement (the "Prepay Agreement"), dated as of March 25, 2015 among FRSMI, the Company and Lascaux. The notice from Lascaux has declared all amounts and deliveries owing under the Prepay Agreement to be immediately due and payable. -----------------------------------------------------------------------------------------------------------------------------------
01/18/2017 Issued Capital: 270,899,007
Fortune Minerals announce the engagement of PricewaterhouseCoopers Corporate Finance Inc. ("PwCCF") as the Company's Financial Advisor to help secure financing for construction of the NICO Cobalt-Gold-Bismuth-Copper Project in Canada
04/19/2018 Issued Capital: 338,403,220
As Fortune continues to evaluate its financing strategies, it has provided notice to PricewaterhouseCoopers Corporate Finance Inc. that it is terminating its engagement as financial advisor effective May 18, 2018
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I could post examples like this all day long. It's been some very expensive paint!