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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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

Fortune Minerals Ltd > Questions
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Comment by Allmanon Dec 15, 2022 5:35pm
191 Views
Post# 35174475

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Questions

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:QuestionsThinking a little bit more about this; here's a speculative dilemma - in the case Procon must sell their FT shares (~37 million) @ current price, they net $2,590,000. Procon bought 29,250,000 shares in 2013 @ 0.40 each for a total of $11,700,000. That's a difference (loss) of $9,110,000 plus the difference of the remaining (7,750,000) shares. How would a Procon loss as such be dealt with?
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