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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 > New Press Release - Acquisition of Securities of Fortune Minerals Limited
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Comment by Nemesison Jun 27, 2023 5:39pm
197 Views
Post# 35517256

RE:New Press Release - Acquisition of Securities of Fortune Minerals Limited

RE:New Press Release - Acquisition of Securities of Fortune Minerals Limited
Here's the explanation for the shares bought at $0.01 reported on SEDI!

I think this press release confirms that a financing or buyback announcement is coming.

Things are falling into place ... and Lascaux Resource Capital (LRC-AUN LLP) is not part of the deal, at least at the equity level.

This sale at $0.01 per share is probably the counterpart paid to buy the votes to support an eventual deal!

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