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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 16, 2023 1:13pm
113 Views
Post# 35450641

RE:Explain action if possible

RE:Explain action if possible
As I posted yesterday. I believe this is done but will be happily surprised if it is not. I have nothing to back up my view only past experience.
If it is not done and this starts trading again I don't think the SP or company outlook as a going concern will be good but hopefully,at least, I will be able to salvage some value and get out.
Look at the history of eCobalt and it's Idaho property (ICO). They went bust and sold cheap to JRV. They have now shut down all continuing development at the site. I see this situation in FTs future.
I have not tried calling the company
There is activity on the FT twitter feed but it looks like a news bot posting every couple days
There is a little action on OTC but it is small trades. Probably someone making "casino bets" on the share trading again
I guess the AGM or lack there of (if it is cancelled/rescheduled) will be what tells us what is going on
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