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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 Unfortunateon May 02, 2022 6:56pm
150 Views
Post# 34649449

RE:RE:Cat's out of the bag?

RE:RE:Cat's out of the bag?
This is a situation where the percentages don't matter when looked at in the context of the underlying numbers. The article says that short interest fell from 50,000 to 36,900 shares, but those amounts are such an insignificant number when compared to the total availability of shares.  Short interest could increase by 260% and it still wouldn't make one iota of difference. 

We're not really a target for that sort action because we don't really exist in any meaningful or visible way to the world at large. I'd love nothing more than to have such a huge jump in share price that gets the shorts starting to notice use.

The volume spike and share price drop today is concerning however
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