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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

Comment by Allmanon Dec 12, 2023 9:56am
116 Views
Post# 35779726

RE:RE:RE:RE:RE:RE:RE:best chance?

RE:RE:RE:RE:RE:RE:RE:best chance?Re. ELBM got ten million vs FT's $800k, I would contend that the 800 is sourced from the $3.8 Billion the Feds allocated in their 2022 budget to implement Canada's Critical Mineral Strategy (not so sure about ELBM funding sources being part of this) and that the 800 is just the tip of the iceberg, especially as you've mentioned, we have the deposit and advanced at that. So much more government funding is available through the Canada Growth Fund, Strategic Innovation Fund, CM Infrastructure Fund, US DOD, etc. and will sooner or later flow to FT, otherwise there's something seriously wrong with the government programs.
Re. RT, I would be very surprised if they are not part and parcel of the NICO deposit development. Often where there's smoke, there's fire. RT has expressed an interest in critical minerals, as well as achieving "impeccable environmental, social and governance (ESG) creditials -  I don't think you achieve this with a DRC or Indonesian cobalt mine. And when considered along with the announced RT/FT collaboration, as well as the pending closure of RT's nearby NWT diamond mine and resultant dispositioning of assets and human resources, it's not that far fetched to surmise that there's a good chance RT will play some part in NICO's future.
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