The Chinese Impact, Good Or Bad?Are the hands of Mr. Goad tied up in some way?
A strange question to ask perhaps, but still worth some thoughts in my opinion.
Since Procon arrived in 2013 the progress of Fortune Minerals has more or less stopped. The company didn't succeed with their expected kick off. I won't be digging in the reasons, but the fact is that afterwards the progress has been slow. In fact very slow.
So what influence has the ownership of Procon had on Fortune these years? They have reduced their ownership stake from 19.4% to just under 10% today. (correct me if I'm wrong) Why? Don't they find the investment so interesting anymore? Don't they have the financing capacity needed to keep up their ownership stake? Or is there other reasons?
The questions above are off course just speculations, and I don't conclude one way or another.
Have a nice weekend!
https://www.fortuneminerals.com/news/press-releases/press-release-details/2013/Fortune-Minerals-announces-strategic-investment-by-Procon-Resources-Inc/default.aspx
https://www.forbes.com.au/covers/innovation/the-miners-digging-to-crack-chinas-rare-earth-stranglehold/
https://www.nationaldefensemagazine.org/articles/2022/8/3/united-states-seeking-alternatives-to-chinese-cobalt