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.

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Fortune Minerals Ltd

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Post by Jim1712on Mar 14, 2024 4:25pm

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Post# 35933527

The USA is getting serious.

US to Offer Record Loan for Lithium Americas Project in Nevada

BNN Bloomberg - March 13, 2024

The Biden administration is offering a $2.26 billion loan to help Lithium Americas Corp. develop a Nevada lithium deposit that’s the country’s largest…The conditional loan from the US Department of Energy will provide the vast majority of the capital needed to fund the first phase of development…The size of the investment in a company that’s little-known outside the industry underscores the urgency the Biden administration feels around securing supplies of the metal that’s key to the energy transition. The funding being offered to the company’s Lithium Nevada Corp. subsidiary by the Energy Department will help finance construction of a lithium carbonate processing plant…The funding, the largest-ever loan to a mining company from the DOE’s Loan Programs Office, comes amid mounting efforts to help build domestic supplies of critical minerals…The Loan Programs Office has more than $400 billion to spend following an infusion of cash from President Joe Biden’s signature climate law…“We are fighting back to get every piece of the supply chain back in the United States or with our allies,” Granholm said.