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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

Bullboard Posts
Post by George108on Oct 21, 2003 1:18pm
151 Views
Post# 6544010

nice release

nice releaseI'm surprised it has taken this long for some to get on board. Previous new releases almost a year ago indicated a payback of some 77 million dollars(mine construction costs?) over three years. metal prices have since gone north and there are more tonnes to be mined now with these latest results. The coal may be the biggest surprise - no hard facts just a gut feeling. We should be trading several times higher than we are at now ($3-$5 ??)Maybe it will take the feasibility studies to vault us to that level.
Bullboard Posts