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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 > US Faces New Challenges Meeting Increased Demand for CM's
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Comment by Allmanon Aug 15, 2023 10:12am
193 Views
Post# 35588815

RE:US Faces New Challenges Meeting Increased Demand for CM's

RE:US Faces New Challenges Meeting Increased Demand for CM'sp 92 of the S&P report has two tables; the first identifies "Mines in Canada by mineral and stage" - in the "Cobalt" column, re "Status" it indicates "0" Operating, "1" in Pre-production and feasibility and "30" Possible. The second table identifies "Canada reserves and resources by mineral and stage, thousands of metric tons" - in the "Cobalt" column, re "Status" it indicates "0" Operating, "74" in Pre-production and feasibility and "1" Possible.
So there is only "1" pre-production and feasibility mine identified which has "74" kts of cobalt reserves and resources. The PDF report "Geometallurgy of cobalt ores: A review" (link below) on page 5 identifies Fortune Minerals NICO project as having "74" kt Co reserves and resources. A positive match between these two datasets. Great news and visibility for Fortune Minerals!

https://www.sciencedirect.com/science/article/pii/S0892687520304763
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