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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 ToadyToadmanon May 15, 2023 4:48pm
148 Views
Post# 35449046

RE:RE:RE:RE:RE:RE:Re: who owns the team?

RE:RE:RE:RE:RE:RE:Re: who owns the team?
Mostly from past experience with a company that went bankrupt.
If this was only a financial reporting problem it would have been complete by now (we are 6 weeks into a 3 week issue) PR would have been all over it trying to settle the situation. Instead there has been ZERO news. This is probably due to a gag order on management relating to the dire state of affairs at the company.
The real test will be that all SH have to have the AGM materials by May 19, as stated in the AGM release. If that documentation is received and is not bankruptcy related there is hope.
I have not tried reaching out to the company. It would be interesting to hear if anyone else has.
My holding here is not that large and I already accept this as a total loss so if I am wrong I will be the first to admit it and be happy for the bonus.
If they go private (how I can't see) at least there would be some return to SH
I feel for the large longterm holders here. Not a good way  to be treated as long term supporters. I know how empty that feeling is as I had a lot of money tied into the company that went bankrupt.
GLTA
DYODD
We can't win them all
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