Correcting some of the misconceptions Been watching FT for a long time, and thought I should set some thing straight that I have seen crop up on the boards of lately, I don't often comment because there is often little if anything of importance to share that others dont beat me to posting:
Fortune Minerals office location:
For anyone who has lived in London, Ontario, they will realize alot of buildings have historical status/ are almost all duo zoned for commercial useage in the London main Arteries. Many of these buildings cannot be torn down and 100s of businesses run out of what appears to be residential houses. It means nothing for the state of the company. This ranges from Dentists, Lawyers, Politicans, Security, family doctors, even the Police have a few residential stations. This is something unique to London I have not seen anywhere else in Ontario on such a large scale. This doesn't make it any less of a business though.
The Speed at which things move:
This one is a hard one to quantify because it most definitely has been going slow, anyone can attest to its slowness. Canada is not well known for its speed of mine operations post 1990 due to certain legal cases that made consulting Indigenous and local communities a requirement (should of always happened but I digress) along with separate legal cases mid 90s regarding the environment in relation to those 2 groups and any future court case regarding all 3 that added legal requirements. The main things to consider is Fortune Minerals is entering a "new" stage of operations which will determine if it will succeed. All Junior miners in Canada run into the issue Fortune has and that is --- without a road or means of permanent travel to the site, you WILL NOT succeed easily on a new site. North West Territories, let alone the Whati area, have a very short building season (sometimes it is only 60 days of the year but is typically 120 days). The hump even Noront Resources could not surpass was that there was no direct road or line to the site and it got eaten by a company that will probably do nothing with it. Fortune will have that road, this year as nothing is preventing it now. What happens afterwards will determine Fortunes future. The only thing they could do, like every other Junior miner could do was study after study to build up interest/ legal requirement until they have the permanent means to getting things off the ground. The North West Territories have 1 of their major mines, Diavik, closing/ winding down this year until 2025 so there is great emphasis on ensuring a new mine can take up much of that employment. The company and area has a lot of Speculative but very forceful means of ensuring something comes out of this but the speed it has been going is abysmal because to get 1 years worth of construction work takes 3-6 years of time for perspective.... ontop of any other beaurcratic shennanigans that may arise.
For those that got in at high dollar values, I definitely understand your pain, it might be rare for you to make that money back. I have seen many of the longs leave as mentioned, but through some DMs with them, they haven't left - they just cant deal with the baloney being posted :P Too much hype, not enough meaningful discussion or talk. With that, all the longs good luck, to all the newbies, I also wish you good luck :)