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Bullboard - Stock Discussion Forum 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... see more

TSX:FT - Post Discussion

Fortune Minerals Ltd > It’s not adding up....
View:
Post by red on May 07, 2021 8:58am

It’s not adding up....

"Excerpt from May 5, 2021 BMO Metals Brief:

The 2020 annual report from CATL, the world’s largest battery manufacturer, shows it sold ~47GWh of batteries in the year, up 7GWh y/y and more than double 2018 levels. Much of the gain was in sales outside of China, with overseas revenues accounting for 16% of total from 4% in 2019, as CATL started to ship high-nickel NMC811 internationally. CATL plans to have annual capacity of 500GWh by 2025." 

Metals for batteries....I am not sure that I am reading this correctly but One manufactuer plans increased output capability in less that five years, to 10 times what's its doing today, just one battery maker ....and there is some 208 giga factories in the works the world over .....I dont care what level of reduction you may come up with, if any, in the amount of cobalt in your batteries, we know they are not eliminating it,  they way it's laid out and with miners held back for whatever reasons there ain't enough available to go around.....and the situation does not add up.

obviously the company is reading the same things we are and cherry picks the news and some one places it " of interest" on its web page near daily.

Based on what "we" know about FT and given the near daily news of battery development and CM issues the world over and given our readiness this should not be a hard sell to banks or partners. There is a hold out some where that is beyond what we know of the proposed "cobalt" development.

is there greed associated with the untold story of what this deposit may hold beyond what the current geology says on the plan for our known cobalt and gold Bi and Cu ? Will we miss an opportunity or will we gain from it ?.....have we lost focus on our main objective and given what Nico may hold and what's happening with battery metals the world over is Robin holding out? It's seems endless opportunity but at same time it's not adding up and we are getting tired.....and really we don't know a whole lot from our company. Our processing question must be reasonably solved by now, give us some info to work with.

Comment by uudamann on May 07, 2021 9:27am
You raise valid points Red. Did someone 20 yrs ago drill through the copper mantle at the bottom of the NICO mine and gasp "Holy Schiatt!!". Did a few fellows from Langley drop by for a look see and take control.
Comment by elitespooner on May 07, 2021 8:08pm
Red, Who owns the debt ??
Comment by red on May 08, 2021 7:57am
What's the point ?