Post by
Wangotango67 on Aug 29, 2022 2:05am
NICO -
Yeah... i went through Fortunes press releases.
I selectively chose 21 news releases that i deemed worthy of reading.
2009 - 2022.
Wow... what a long haul.
But... i commend them for performing ( various ) exttraction methods to improve their recovery rates.
Kudos to them.
So, why would i sift through Fortunes press releases ?
Simply put... to see where they stand.
I wanted to know if they had high recoveries - along with high enough profit margins.
I didn't come across any PEA's or definitive FS studies crunching the numbers.
Yes.. they do make mention of the FS study and commissioning Hatch, but what i was seeking ( profit numbers ) i could not find. ( in plight of, Fortunes ore grades )
4 pack of minerals.
- gold
- cobalt
- copper
- bismuth
Each contribute and are dependent on another = strenthening the over all project.
Milestones, that cover environmental, First Nations, Roads, Financing, Partner support, extraction and recovieries via flow sheets - and the efforts to expand on thier Flagship Nico deposit with recent drill campaigns over the past few years ( along with historical ) wishing the Peanut Lake zone would offer up similar grades to that of, Nico deposit.
My own thoughts ?
Peanut zone does have the gold and cobalt, but not the intercepts like the Nico deposit.
I don't tihnk ( own opinion ) the Peanut zone has enough punch to extend the Nico deposit.
I won't knock their project.
Fortune has performed lot's of work.
Fortune does have a good mineral in situ repository - ( 4 kind - quad resource )
And of course a lil junior ( rover ) not too far away from, Nico.
What the hell could a lil junior offer up - that Nico may want ?
ROVER
Has near surface gold. ( other minerals - well, they'd have to assay to know )
Far higher gold gram values
Smaller ore body
Less ore to remove - strip ratio
Near surface... hell of a lot easier than, builing a full throttle large mine.
What should be done ?
Both Nico + Rover should collaborate together.
If Rover could prove up - 80+ k gold ounces
Near surface gold - such could - ASSIST WITH FUNDING NICO - TO LAUNCH THIER MINE.
85,000 oz ( potential )
x $1,200 ( profit ) $550/costs subtracted
= $102,000,000 mil ( would certainly take a huge chunk of costs out of Nico's mine plan )
Nico's flowsheet has a potential of - 1.7/mil ore tonnes per year. ( 4,650 tonnes per day )
What's good about Nico is...
they purchased several ( mine components ) from the retired Giant Mine.
Though, not likely set up for - 1.7 milllion tonnes processing -
I wonder what sort of equipt they do have that could process ores ?
If only gold ores.
To arrive at 85,000 oz with a hypothetical - 5g grade of gold ore.
One would need to process = 530,,000 tonnes
To achieve 85,000 oz - 1 yr. - time frame.
The problem ?
Will Rover succeed with more gold ounces ?
How would one ever unite two juniors so as, both recieve a fair shake ?
Can't just give them the ounces...lol
f Nico offers shares, they'd still dilute their share count.
Fortunes shareholders would be pissed with more shares out.
Rover would not want tonnes of shares valued @ $0.095 cents.
The real issue here is...
Fortune is not properly valuated.
If it were... it would be far easier for Fortune to bring their project online without mass dilution.
Rover spins thier bugow gold claims ?
Fortune scopps them with a newly created - sub - company with a higher value share price ?
A spinout ( fortune ) that is assigned to fund the Nico ?
Or... to heck with helping Nico...
Rover keeps to themself - treat their gold oz's as a future project for themselves.
Perform their own economics.
Shallow - open pit.
In and Out.
And... fund their future Indian Lake project ?
Open thoughts....
Just ideas...
Cheers....
former post - correction - should read...
I myself, like scanning satalite maps looking for indifferences in the vegatation. Some may think soils are too acidic and nearby trees are dying - could also mean the soils are too MINERAL acidic or alkaline - which can become specific mineral pathfinders - looking for vegatation anomalies.