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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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

Fortune Minerals Ltd > Reminder
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Comment by MoneyMan123456on May 02, 2022 8:40am
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Post# 34646921

RE:Reminder

RE:ReminderMy guess would be that nobody believes Fortune can obtain financing, construct the project and operate it over a long period of time profitably.  

Therefore the remaining option is to sell it to a competent miner who has experience and resources.

Since they would expect to make the lion's share of the profit for taking the financial risk, the opportunity for Fortune is to get bought out at some multiple of the share price.

Most people probably think that a 3-4x shareprice buyout would be a miracle.

Thus the ~0.5 ct / share range.

Nobody cares that Fortune has sunk 130 million into the project.  That money is sunk and gone.  

All that matters now is cost to build, operate and revenue projections.
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