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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 Apr 28, 2024 8:11am
156 Views
Post# 36011429

RE:RE:RE:RE:RE:RE:RE:10c soon!

RE:RE:RE:RE:RE:RE:RE:10c soon!Bear in mind that FRC's $0.31 fair value per share estimate is based on $22.50 cobalt, $1400 gold, 1.39 exch rate, $824,600 capital cost, etc. Extrapolating using their sensitivity table and considering current cobalt and gold prices gives a fair value in the order of $0.22. In a case where cobalt remains at its current price and gold increases to $3000, fair value is in the order of $0.75. Lots of other significant fair value variables such as capital cost still to be revised pending current SGS metallurgical testing, government monetary assistance, etc.
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