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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 > Canaries in the cobalt mines:
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Comment by parahyangamon Jun 30, 2022 2:23pm
177 Views
Post# 34794567

RE:RE:Canaries in the cobalt mines:

RE:RE:Canaries in the cobalt mines:There is a storm of another kind coming. 

It will dwarf battery metals demand.

Massive global demand for fabricated steel and metallurgical coal.

Why did Fortune surrender the Arctos leases two months before defaulting on the Lascaux silver mine loan? Whose idea was this? It is well beyond incompetence.

Why did POSCO not buy out the other 50% of Arctos they did not already own? Forget that as the largest investor in Fortune and Arctos, it is incredulous POSCO allowed Fortune to buy the worthless Revenue-Vriginius mine in the first place.

Instead POSCO stood aside and let Fortune negotiate a ruinous dilution of Fortune shares with Lascaux and hobble Fortune further with a payable loan which could unlease an further share dilution tidal wave.

POSCO's purchase of the 50% of Arctos they did not own would have taken out the Lascaux loan obligations with ease. 

Go to Aurcana Silver Corp's website and look at their video of mine operations dated Sept 2021. DO it now since Aurcana is about to disappear.

What are the two things you would expect to see but do not?

Fortune's current market cap is $ 35 milllion CAD.

Arctos's raw in ground asset is worth anywhere between 50 and 300 billion USD.

Are we still in Kansas?


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