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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 Lottenon Sep 13, 2022 7:01am
140 Views
Post# 34958727

RE:Condition of Spur Road

RE:Condition of Spur Road
First of all, I don't live in the NWT, so I can't see with my own eyes if there has been some activity connected to the spur road or not.

But in my opinion you seem a bit optimistic. I'm pretty sure it would have been announced in a press release if something was going on with the road. And I'm afraid nothing is going to happen in the near future either. Before we can start construction we need an updated FS, and before that we need a pp (or money in another way) to buy the refinery site, to get an updated FS, and maybee reduce some debt. And not to forget we also need some money to pay the wages to Mr. Goad and his directors. And finally we need a partner.

So in my opinion we'll have to be patient a bit longer before we can start building the spur road. One year or two years? Or even three? In worst case never. Hard to tell, so many thing can happen in the coming months that will have influence on the future of the Nico project.

But I'm in it for a surprice.
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