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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 > Refinery Again
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Post by Lotten on Jun 24, 2021 3:21am

Refinery Again

We can see a development all the way from the news article in january and to the update from yesterday. The refinery solution is a part of the Nico project whether you like it or not. And it is also a key factor to make progress for the project.

Personally I don't think they are looking to build for themself. There will be an collaboration.

This is what they say in the update:

"The priorities were focused on permitted brownfield locations with existing facilities and personnel to materially reduce the capital and operating costs for the refinery and to accelerate development."

I think a final decision is very close. And when the decision is taken the Nico project will start to move faster.

Again from the update:

"Fortune’s near-term priorities are to complete the site selection and negotiations for the NICO Project refinery collaboration."

"Discussions are also continuing with potential strategic partners and are expected to accelerate once the refinery site is finalized."

My conclusion is that the refinery site solution will be the door to be opened next, and I think the shareholders will enjoy what will come afterwards.
Comment by red on Jun 24, 2021 7:57am
Lotten clearly I am and we are totally on board and on same page with that line of thinking. Words in statements made in last several NR have been and are meaningful and I think more so in this last project update. I am inclined to believe that the "collaboration" has mean leaning to an existing facility .....I only know of one. ( it may be a matter of me wanting to see that ...rose ...more  
Comment by geolith on Jun 24, 2021 8:34am
Agreed, but my point is that Osisko isn't looking to build or partner with a smelters or refinery on Pine Point, and neither is Norzinc considering one for Prarie Creek. Fortune has focused on a build, because it maximizes return on Nico. There are alternatives.
Comment by red on Jun 24, 2021 9:36am
Point taken ... FT has always promoted it self as a vertical integrated operation, soup to nuts so to speak and would be nice ...but as you say there are alternatives or combinations thereof. As this unfolds I doubt we will be disappointed and I am excited as this unfolds. 
Comment by Unfortunate on Jun 24, 2021 10:10am
They can promote themselves however they like but the reality is our market cap doesn't reflect those promotions. Meaning no one else is buying these dreams. Einstein is purported to have said: "The definition of insanity is doing the same thing over and over again and expecting a different result." It's long past time to change approach and take a more realistic plan of action ...more  
Comment by reddog11 on Jun 24, 2021 10:24am
I feel very strongly no matter how vertically integrted FT wishes to be, the cost of the refinery just simply won't happen. Building a refinery is not a no risk propositi0n either. The amount of dilution we would need as well as owing on bonds could wipe us out if the price of the commodities went South as they did a few years back and few saw that coming. I would far rather make a little ...more  
Comment by red on Jun 24, 2021 11:00am
I dont Think Your strong feelings and wishfull thinking of ideas is off the table.....FT has options and i think we would be wrong to discount what you have presented. All i said was options and combinations thereof - i feel much better that something palatable will come of it all.   
Comment by reddog11 on Jun 24, 2021 1:48pm
I understnd Red. I do appreciate your very rasonable discussion ability. Refreshing. RD