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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 > 3.8 Billion US$ proven & probable NICO gold reserve at $2500
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Post by Allmanon Jul 16, 2024 11:41am
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Post# 36134782

3.8 Billion US$ proven & probable NICO gold reserve at $2500

3.8 Billion US$ proven & probable NICO gold reserve at $2500At the approaching $2500 gold price, NICO has $US3.8 billion proven and probable gold reserves sitting in the ground plus what is yet to be added to proven and probable. In my rough order estimate, at current cobalt prices, FT has a fair value of $CA 0.60. Lots of potential and a ways to go from current stock prices, but we may be about to round that corner.
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