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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 redon Jul 22, 2024 9:17am
205 Views
Post# 36142431

RE:JRV halted at the open

RE:JRV halted at the open We are no screaming H and we have a proven resource ...but they been worse and they apparently been proactive in cost reductions etc ....

from the JRV BB July 14 .....

I wonder if there is going to be some new this week.

Still Learning

"Jervois Global Limited (“Jervois”) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) has agreed with the majority bondholder (the “Holder”) of the US$100 million 12.5% Idaho Cobalt Operations (“ICO”) senior secured bonds (the “ICO Bonds”) that the Holder will support a waiver of all financial covenants (the “Waiver”) until 20 July 2024. The ICO Bonds were issued by a Jervois U.S. subsidiary, secured by ICO and guaranteed by Jervois in 20211.

Jervois is working in conjunction with its major lenders on potential transactions to strengthen Jervois’ balance sheet. Concurrently, Jervois continues to focus on cost reductions across its portfolio. This has included a significant, 30%, reduction in senior corporate management roles. In addition, Non Executive Directors unanimously agreed to reduce their cash compensation also by 30%."
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