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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

Post by parahyangamon Sep 02, 2023 10:29am
222 Views
Post# 35617417

PERHAPS ONE FEELS IMMUNE TO PROSECUTION

PERHAPS ONE FEELS IMMUNE TO PROSECUTIONDoes anyone know how many shares Troy picked up for ONE cent?

Who were the other buyers who bought the bulk of the 70 million ONE cent shares not employed as management or on the current (or past) BOD? 

The management and the BOD destroyed FT in 2014 when they recklessly without any guard rails bought the worthless 140 yr old Revenue silver mine. The level of incompetence remains utterly breathtaking.

The preposterous pledge of Arctos & NICO as collateral for an additional 30 million loan from LRC ( just 6 months before the loan's expiry date) ultimately produced the debenture that morphed 8 yrs later into a cornucopia of shares for beneficiares who should have been summarily dismissed in 2015.

Any outside shareholder who now buys FT shares at the current tragically depressed price will unwittingly mitigate the future success of any class action legal endeavor.


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