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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 Allmanon Nov 06, 2022 12:17pm
286 Views
Post# 35077297

Canada critical minerals interactive map

Canada critical minerals interactive mapThe Canada CM interactive map has a feature where if you click on the high level layers, e.g. Advanced Projects, Mines, etc, you can open their respective database and then search by CM, e.g. cobalt (or bismuth for that matter). Doing this for Advanced projects identifies two operators with proven and probable reserves, Dumont and NICO. Dumonts cobalt production is forecasted to initially be 1.0 ktpa and growing to 2.0 ktpa in seven years time. NICO's average cobalt production is forecasted to be 1.8 ktpa average over the first 14 years. No other advanced project appears to have proven and probable reserves. The existing mining operations, i.e. Glencore and Vale, whose respective 2021 cobalt production was 1.1 and 2.6 ktpa, seem to have commitments for their foreseeable future production, e.g. streaming deals. The million or billion dollar question is, if you're a Hyundai, Volkswagen, Mercedes, etc looking for Canadian cobalt in the next 3-5 years, what are your options?

https://atlas.gc.ca/critical-minerals/en/
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