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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 Dec 07, 2022 9:48am
154 Views
Post# 35155908

RE:RE:Alberta Refinery Site And An Updated Feasibility Study

RE:RE:Alberta Refinery Site And An Updated Feasibility Study

lol, ya ummmm no!
 

It's starting to get into fantasy land thinking that an engineering and design consultant is going to start donating resources in the "hopes" that they will be selected as an EPCM contractor or other design resource.   There are no words.

It's just so ridiculous, I can't even start.  Every month management is kicking the can down the road, instead of getting an update to the FS completed.  This should have been undertaken 2 years ago, instead of the drill program they completed.  Every month they are paying to keep the lights on, complete financial statements, pay salaries, etc.; depleting resources instead of having a well communicated and strategic plan to get this thing to market.  

How much cash has been spent on this refinery business, when the FS and marketing the asset is the critical path.  Let the owner and developer figure out the refining side.

I can't even imagine going out to buy land when it hasn't even been demonstated that the project is still economical.  Can you imagine buying the land and materials to build a home when you don't even know whether what you are proposing is feasible and economic?

All of this, only my humble opinion.

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