Fortune Minerals Ltd T.FT

Thoughts

[NJ1985]

Good evening fellow, shareholders

although I am not a long, i'm afraid that the pace of developments with fortune minerals will lead me to be a long that I don't want to be. I believe that management does not intend to develop this project rather they intend to sell it. If this is the case, I have to wonder what the price may be and why we haven't had an announcement yet. I do check in on the board from time to time and I find there's a lot of great information here, however, we are so far disconnected from what the actual reality with fortune minerals is. I noticed many tend to convolute the macro environment as if it pertains specifically to our little fortune minerals. While I do agree, the macro market, specifically battery metals in Canada are highly sought after, Robin hasn't been apart of any of the battery metal conferences that have been announced across the sector. 

Fortune minerals does not have a feasibility study, does not have a road to the mine and does not have a refinery. For all this to come to fruition, it would be at least 3 to 5 years out. Goad is well into his 60s and there's no chance he's gonna see this thing through so my question that I hope can spark some thought-provoking debate is- what is the hold up with news? What buy out price is management looking for?

if my thesis holds true, goad must be demanding an unrealistic price therefore, he hasn't found a suitable buyer. The next question would be what is a fair price? my assumption is at least 140million? That would be what they've spend on the project to date. 

in any case- I got in this because the NICO development seems promising- but I've yet to get a grasp of what it's worth. 

I do follow technical trends- and it seems that fortune really missed the boat a few months back when it was trading at bullish levels. Management failed to capitalize on the opportunity that we had at the time, and retreated to .08. 

I appreciate thought-provoking responses that aren't just aimless hopes and unfettered dreams. It's very unrealistic to assume that anyone will pay one dollar for this company that doesn't even have a market cap of 32 million, as that would imply a $450 million buyout, that's not happening folks, wake up.

I'll leave you with a quote- “It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.”

[sirfartalot]

All in my humble opinion: Why would you peg a buyout at 140 million for resource development and ignore the very resource in the ground ounces that caused the 140 million to be spent for development  in the first place ??? From previous posts ... that may or may not be of interest depending upon one's agenda. A few reminders for reference: References more than 130 million invested in

[Wallyneptune]

Sirfartalot you sound just like Jim hmmmmmmmmm ! I think NJ made a lot of good points. RG has kept the shareholders in the dark for decades and as I have said before the word shareholder has never rolled off his lips The new FS has been talked about for how many years now ? Its down to the wire now so lets hope he can pull something off. its amazing that this company didnt go under years ago. The

[sirfartalot]

All in my humble opinion: That is what makes a market a market.  We're all here because of an asset. What value management realizes for that asset remains to be seen. Regardless, its nonsensical to claim the development money spent has value, and the underlying asset has no value, which was the very reason for spending the development money. Shareholders had their chance over the years

[NJ1985]

I appreciate the input. I agree there is unrealized value here. How much, well we will have to wait and see- good luck everyone! 

[red]

That's a good point SFA and if I red ( lol) voting results Y on Y correctly shareholders did make a decision and we have to run with it. If one does not believe in the macro around us, that may lead us to something very good, then I would think one would have leff long ago. We may be  .07 before we are .10 lol but things going as we may like we could easily be .5 or even that 1.0 that

[Tuckerthefox]

A lot of what you've said is possibly true. They do have a feasibility study, 8 years old, but still valid for the most part. They also can truck, if need be, over an ice road a mere 50 km. Where it could be stockpiled at the brand new all season road and transported to Hay River for train pick up year round. I agree they are looking for a buyer, or partner(s). TTF

[MelodicHysteria]

NOT (Noront Resources) got bought out for 1.10 (a low of 22 cents was pretty common to hit) and they didn't have a feasibility study, no agreement between provincial or federal government, 0 roads, both all season or ice No First nations buy in (there is actually infighting between the 3 groups) Potentially hyperinflated numbers that were exagerated Agreement in

[Allman]

Re what is the hold up with news, my opinion, in a nutshell, Canada’s Critical Minerals Strategy. Per the Clean Energy Canada Sept 2022 report “Canada’s New Economic Engine”, p19 indicates … the forthcoming Critical Minerals Strategy will focus on developing Canada’s upstream mining activities … . If you go to the Canada’s Critical Minerals Strategy webpage, the first sentence/paragraph states in

[MoneyMan123456]

Excellent post and lots of good questions / analysis.  My 2 cents. It's not clear what Fortune's strategy is.  They seem to be working towards the concept of building and operating the mine and processing facility internally.  From an outside perspective this is the definition of a clown show since it appears well beyond their capabilities and financial means. I think most

[parahyangam]

MORE BULLSH*T. Lascaux had a chance to grab both NICO & ARCTOS. But they did not. Instead they lost the 40 million they lent FM, then put another 20 million into the Revenue mine. Now they have F*CK ALL since Aurcana has gone broke and the nobody has bid for the mine since it is worthless and has been worthless since 1895 when the US congress withdrew silver subsidies. Whatever number of

[Unfortunate]

11/03/2009 Fortune Minerals announces agreement to purchase lands near Saskatoon, Saskatchewan for NICO refinery. Investment in the refinery is estimated at $150 million and construction is anticipated to commence upon receipt of the NICO mine permits and project financing Goad's been going on about this refinery idiocy for an insane amount of time and has advanced the plot not one inch