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Fortune Minerals Ltd FTMDF


Primary Symbol: T.FT

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 > Option to buy refinery expires.
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Comment by Allmanon Jul 02, 2024 6:58am
144 Views
Post# 36113907

RE:Option to buy refinery expires.

RE:Option to buy refinery expires. Three potential issues come to mind with this expiration:

1. JSFL has a competing offer
2. an issue with Lind Partners financing
3. a 3rd party interested in FT is not interested in site or has issues with site terms

Something unforeseen must have materialized; There doesn't seem to have been a competing offer as of May and terms with JSFL where previously sorted out, as for the most part with Lind Partners, who were in all likelihood brought on board to finance the site. Is it something to do with #3? Clearly time will tell.
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