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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 Aug 28, 2022 1:58pm
169 Views
Post# 34925392

RE:Sleepy Sundays - article - Cobalt demand 2024-2026

RE:Sleepy Sundays - article - Cobalt demand 2024-2026

It is an interesting feature of our times that people become so dogmatic in their beliefs that they cannot process simple challenges to their beliefs.  Instead they seek out echo chambers on the web to reinforce their belief system.

For example the belief that Cobalt demand will increase exponentially vs the probablity that Cobalt will be engineered out of modern batteries.  History has demonstrated that innovation will drive right through most obstacles placed in its path.  

Also the reality that Nico IMHO appears to be a marginal mine at best versus the belief on this message board that if they can only share their story that some mining giant will gladly swallow them up.  This project appears to be driven by the hopes and dreams of a junior mining company that believes they can do things for much less then established miners.  

I'd love for someone to share why NICO isn't being developed as we speak given the excellent commodity prices and demand outlook :).  The reason IMHO is an established mining company needs a very high value project to justify doing business in the NWT and deal with the mulitple layers of government and regulatory regimes.

An updated FS would sure help to answer some of these questions.  

 

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