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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 Dec 21, 2024 11:01am
64 Views
Post# 36373551

RE:FS STUDY -

RE:FS STUDY - Not sure that's reflective of actuals. In Canadian dollars, Gold is currently a staggering 145% higher than the pricing used in the 2014 Feasibility Study and Cobalt is only about 13% lower. For this, and other optimization initiatives, I'm anticipating a more bankable updated Feasibility Study. The Fortune Minerals 2014 NICO Feasibility Study Base Case Metal Price table is included below along with some current pricing (apologies if it's jumbled).


Table 22.3 Base Case Metal Prices (p 286)
Metal                            Metal Price (US$)            Exchange Rate (US$/C$)      Metal Price (C$)
Gold (per oz)                       1,350 (current 2622)      0.88 (current 0.697)          1,534 (current 3,761)
Cobalt (per lb)                      16.00 (current 11.05)     0.88 (current 0.697)          18.18 (current 15.85)
Cobalt in Sulphate (per lb)   19.04                             0.88                                   21.64
Bismuth (per lb, average)     12.64 (current 6.32)      0.88 (current 0.697)          14.36 (current 9.07)
Copper as cathode (per lb)    3.25                             0.88                                     3.69
Copper as cement (per lb)     2.38                             0.88                                     2.70
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