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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 Allmanon Oct 06, 2022 11:36am
144 Views
Post# 35009524

RE:RE:RE:RE:Other Places In Canada

RE:RE:RE:RE:Other Places In CanadaI suppose without a guaranteed feedstock (aka NICO mine) and hence refined product revenue, a refinery loan cannot be paid and consequently a lender not found. The linchpin is the Canada Critical Minerals Strategy and the financial assistance it may provide to Fortune Minerals and its' potential partners. Once this is known, partners can better quantify their risks, liabilities and benefits and things should fall into place. Timing is everything and it looks to be in our favour, but we do seem to be cutting it close. IMHO
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