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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 > Ice road status
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Comment by Allmanon Mar 25, 2024 8:14am
127 Views
Post# 35950235

RE:RE:Ice road status

RE:RE:Ice road status... used to support a mini-pilot at SGS Canada Ltd. to confirm certain process design criteria and improvements to the NICO Project metallurgical processes. The program will also provide samples of concentrate that could be used in future tests with material sourced under the previously announced Rio Tinto process collaboration (see the Company's news release dated September 29, 2023).

https://www.fortuneminerals.com/news/press-releases/press-release-details/2023/Fortune-Minerals-Announces-Government-Funding-to-Advance-the-NICO-Critical-Minerals-Asset-in-Canada/default.aspx

Cobalt Process Improvements:
Hatch conducted a value improvement assessment of the cobalt process that was previously contemplated in the 2014 Micon Feasibility Study (see Fortune news release, dated April 2, 2014) and 2012 Front End Engineering and Design ("FEED") study by Aker Solutions Canada Inc. (now Jacobs Minerals Canada Inc.) (See Fortune news release, dated July 2, 2012). A number of improvements were identified that could reduce the capital cost of the refinery by up to $200 million. These are being incorporated into the updated Technical Report and will mitigate some of the increase in capital costs that have resulted from escalation, other improvements and the increase in throughput rate.

https://www.fortuneminerals.com/news/press-releases/press-release-details/2019/Fortune-Minerals-Provides-Nico-Project-Technical-Report-Update/default.aspx
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