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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

Post by southcountry2on Jul 14, 2022 4:55pm
223 Views
Post# 34825293

Fortune Minerals Extends Option for NICO ... by only 60 days

Fortune Minerals Extends Option for NICO ... by only 60 daysOf course it's easy to be wrong about these things from our dark side of the fence, but ONLY a 60 day extension of the purchase option seems lke an anomoly that is trying to tell us something.  60 days is no time at all in the real or normal mining world.  Everything of substance usually takes much longer.

So this unusually short time frame suggests to me that something is already in the works and is well-along to being finalized.

If nothing else, the exceedingly short time frame tells us that our waiting time .... to see if something positive for NICO transpires ....  is correspondingly very short.  It's nothing like an announced "drill program" that will take 2.5 years to get the actual results back from the lab.  Like everyone else, I'm impatient for some important news one way or the other.  So we shouldn't have long to wait and I'm glad for that!
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