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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
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Post by MoneyMan123456on Sep 30, 2023 11:05am
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Post# 35663205

Lack of substance and details - PR

Lack of substance and details - PRIs this a green-washing exercise for Rio Tinto?  This press release provides little to no information about what each party is bringing to the table.  Is fortune supplying proprietary refining and processing technology?  Are they supplying cash?  It makes no sense for RT to provide the cash, testing centre, etc.  and share the data and optimizations with another company.

Is Fortune providing stock / warrants in lieu of financing??   It would be nice to have a picture of what the financial arrangements are going to be.

Also, the press release references testing being done at "Fortune's planned Alberta Refinery".  In what universe is that refinery going to be operational in the next 5 years??

"Under a Memorandum of Understanding signed between the companies, testing will be done at Rio Tinto Kennecott’s integrated copper mining and smelting operations in Utah and at Fortune’s planned Alberta Refinery"
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