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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 > They are talking …
View:
Post by red on May 25, 2022 12:12pm

They are talking …

About rare earths and china's control of such and as if china's does not control Cobalt !! There is definitely something wrong with this picture given what we know of cobalt and well predicted shortage that looms.... from cobalt news ....https://www.mining.com/canadas-minerals-extraction-in-situation-critical/

Robin has to be on to some federal money and FN support ....

"It takes 10 to 20 years to bring a mine from discovery to production, not just in Canada but elsewhere as well.

“We need to up our game and streamline our permitting process and make decisions faster,” Goehring said. “Mines have long lead times, and if we’re not able to improve our permitting processes, and we don’t engage [First Nations] in a more meaningful way, we will miss this opportunity. I think policymakers are starting to understand this challenge and are turning their attention towards it.”

While details of the federal critical minerals strategy won’t be fully known until it is formally approved by Parliament, there are expectations of some direct government investment in the form of equity or loans – “patient capital,” Gratton calls it – in certain types of mines and processing, like rare earths.

Where you hear more about direct government involvement is in rare earths,” Gratton said. “Because for rare earths, China has control of the market. In the past, whenever the Chinese perceive a threat, they flood the market, prices collapse, mine goes out of business.

“It’s a very difficult market to get into because China controls it. They control the price and they’re state-run enterprises, so they don’t care about profit. They have these mines in China and elsewhere for strategic reasons. And we’re competing against that.”

Comment by geolith on May 25, 2022 3:53pm
The trouoble is people belive the 20 year time frame from discovery to production.  It may be possible in some jurisdictions, but there are only four newly permitted mines in the NWT, Nechalacho, Nico, Mon, Prarie Creek.  Most had work done on them over half a century ago, but the discovery of the permitted mineralization was Nechalacho 2006 (Thor Lake REE), Nico 1994, Mon, 1989, Prarie ...more  
Comment by Lotten on May 26, 2022 7:15am
Nice input.
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