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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 MelodicHysteriaon Oct 24, 2022 10:06pm
120 Views
Post# 35045586

RE:RE:Processing Plant coming to the USA.

RE:RE:Processing Plant coming to the USA.

Depends how you look at it but technically Arizona is closer than Cobalt Ontario is by a couple hundred kms (crow flies however is like 2000 kms more than Cobalt) however you now have several government agencies you need to deal with transferring rare earth metal cross state and country lines (tax involvement, etc etc). The US is doing the same thing Canada is trying to do.

As the last 2 or 3 years has shown, all it takes is 1 partner in North America to get frustrated and any arrangement is held hostage. For a fledgling company, that is too high of a risk that your whole process will crumble when there isn't even an actual facility yet. 

Generally speaking, manufacturers dont make deals with each other cross country and state lines unless they have an active division in said area. I.O.Us (aka memoriums of understanding) have difficulties sticking when companies arent held to the same rules in separate countries so to me, it would be very unlikely we would partner with something in the US which is trying to create a strictly US battery supply line (however, I have also seen worse happen!)

good luck to longs

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