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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 > Fortune Minerals Announces Government Funding
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Comment by AbuBabaon Dec 05, 2023 11:22am
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Post# 35769108

RE:RE:Fortune Minerals Announces Government Funding

RE:RE:Fortune Minerals Announces Government Funding

Loan Extensions:

Fortune is also pleased to announce that it has entered into agreements with the holders of its outstanding Debentures originally issued in 2015, a term loan received in 2021 and a bridge loan of $110,000 advanced in October 2023 (collectively, the "Debt"), extending the respective maturity dates of the Debt until December 31, 2024. The aggregate amount of Debt being extended is $9,396,399.18 and carries interest rates of 10% compounding monthly, and 9% compounding annually for the debenture and term loans, respectively.

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