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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 > Take OUT
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Comment by MoneyMan123456on May 16, 2022 11:18am
178 Views
Post# 34686304

RE:RE:Take OUT

RE:RE:Take OUTWell currently the value of the company is 41 million dollars. 

Ultimately though, nobody really cares how much money has been sunk into the project so far.  That money is gone and irrelevent.  

All a buyer thinks about is profit and risk.

Without updated information, none of us can really make an assessment on the profit side, but I doubt someone is going to come in and offer 10x share price for the project.

IMHO, best case scenario is an 80/20 partnership, with the partner extending a loan to Fortune for its construction cost share that can be repaid through future profit.  Fortune sits back, completes a quarterly report and pays a dividend. That would be sweet.
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