Fortune Minerals Ltd T.FT

The Writing On The Wall

[Lotten]

As we could see from my last post the activity at the mine site is nothing except necessary maintenance. And that is understandable.

But where is the money needed to do something else on the mine site?

September is soon coming to an end, and we still haven't got any sign from the company if we're going to buy the refinery site. Is that good or bad?  We're used to silence from the leadership, but now it's time to speak out to the shareholders. In my opinion another extension would be an extremely bad sign. The company simply has to buy to prove them capable to drive this project forward.

Another thing I've been wondering about is all the NDAs that used to be mentioned in the presentations some time ago. What happened to them? Was it just a fantasy?

What also can be a scenario this autumn is bankruptcy. And then someone else will pick up what's left for a fraction of the real value, and leave all shareholders with nothing. Let's hope not, but unfortunatly that could be a reality. 

I think the company owes the shareholders a bit more information on what's really going on.

[red]

Well Lotten based on what we know in that we are close to broke, the land deal by end of sept and financing of some sort by end of November it's difficult to stay positive, just based on what we know Including the fact that our 4.5 billion dollar deposit is collateral on a 12 million dollar loan. it would be impossible that we do not have some extension available on the financing and we know

[Allman]

You're right, a bit more info from FT now would be enlightning. The way I'm looking at it is as follows; the deadline for Canada's Critical Minerals Strategy discussion paper comments was four days ago; if you go to the respective government site you'll see this ... The public consultation period for the discussion paper closed September 15, 2022. We are reviewing the feedback

[red]

Totally agree with that post ! Unfortunately the anticipation of some level of success is not reflected in our current price, but as this situation unfolds more in our potential development, I think fair to say that anticipation will change. What it takes for that realization is a bit of a mystery. 

[Marketbeat]

A sincere thanks to all the great information provided by everyone who contributes to this forum in a meaningful way. In my opinion- we have to survive September which will present challenges in and of it self. where we stand- it's never been higher stakes than putting Nico assets on the line for 12 million. A couple ways this could unfold- the most likely to be further dilution- but

[red]

Yes we all want a return and maybe .... just maybe we get it. I guess we find out soon enough if sept brings us another 30 days or sixty days on the land and who knows on the bigger item financing lol 

[Tuckerthefox]

Financing. I would think any battery/ auto company would jump at buying cobalt in the ground for 50% market value. Up to the $12mill we need to cover this silly little debt. As far as selling the project in my uneducated opinion it would be hard to find one buyer that wants everything. Could end up with multiple players each wanting their mineral. Perhaps a large miner jumps in for everything

[Tuckerthefox]

Like a lot of junior miners, I believe the big players are waiting to see what the federal government is willing to shell out to help. The Canadian throne speech last spring said this fall the program will start. Imo TTF

[Lotten]

You've got some points Allman. Absolutely worth thinking about. And thank you for your contribution to this bb. Impressive. :-)