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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 May 11, 2022 9:34am
102 Views
Post# 34673562

RE:RE:Praise To Fortune Minerals

RE:RE:Praise To Fortune MineralsThe most unique part of this deposit is that it is within a mining jurisdication that is downright hostile to mining.  You need a world class deposit for a company to want to attempt to do business in the NWT.

Talking about market macro is corporate speak for a directionless company.  What matters is capital cost, operating cost, revenue projections and contingency.  With no line of sight on capital and operating expenses, no one is going to give you the time of day.

Another construction season wasted, with no start to road construction.  Another year long delay to mine construction.

More talk of liquified natural gas usage and hydro dam upgrades.  Pie in the sky distractions.

The only variable Fortune should be discussing is what the plan and schedule is for reworking the feasiblity study.  Nothing else matters.  How can you have any serious discussions without an update to this most fundamental study.  It is crazy that in the last 2 years there seems to be no movement to address this huge deficiency.
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