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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
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Post by good7news7soonon May 22, 2024 1:05pm
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Post# 36052258

Fortune has received an initial C$1.25 million from Lind

Fortune has received an initial C$1.25 million from Lind Fortune has completed option payments to JFSL, totalling C$1.4375 million to be applied against the C$5.5 million purchase price and will complete the acquisition by paying JFSL the balance of the purchase price by June 28, 2024.
Fortune has entered into a convertible securities agreement with Lind Global Fund II, LP, managed by The Lind Partners for up to C$10,000,000. Fortune has received an initial C$1.25 million from Lind  in exchange for the issuance of a first convertible security, and subject to the agreement of both parties, additional drawdowns can be made. Most of the proceeds from the first drawdown were used to make a C$1 million downpayment to JFSL Field Services ULC.

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