Fortune Minerals Ltd T.FT

I Just Wonder

[Lotten]

Almost four years(january 2019) ago Mr. Goad spoke to Mining Journal.

"Potential project partners and financiers are said to be “at the table” and eagerly awaiting the publication of an updated feasibility study on Fortune Minerals’ (TSX:FT) NICO cobalt-gold-bismuth-copper project in Canada’s Northwest Territories (NWT), CEO Robin Goad tells Mining Journal"

In February 2019 an article in Mining Weekly tells us this:

"“Production is expected in the early 2020s – this timing is considered ideal because double-digit growth of EV mass adoption is expected during this period as the automotive industry accelerates electrification,” he highlights."

"The company expects to complete an updated feasibility study in the first quarter of this year to help secure the project financing for construction. The study is assessing an estimated 30% mill throughput increase of 6 000 t/d of ore at current costs, commodity prices and currency exchange rates."


"The company has about 45 confidentiality agreements signed with potential strategic investors, including automotive manufacturers, battery companies, private equity, mining companies, banks and traders interested in securing a strategic cobalt supply."



In March 2019 Mr. Goad sold 376,500 shares in the public market.

In October 2019 an update was given to the public.
In may 2020 Mr. Goad told Lara Smith in an Interview this:

"And we’re also looking at collaboration on processing plants to reduce refinery capital costs. At the same time we’re in discussions with both the US government as well as the Canadian government on critical mineral supply."

"I can tell you that we have discussions with both the US and the Canadian governments.  I’m not at Liberty to discuss those discussions at this point other than we have proposals that are being looked at."


I just wonder what happened to those 45 confidentiality agreements signed, and mentioned in the presentations a long time after?

And I just wonder what was the conclusion of the the discussions with the US and the Canadian governments during spring 2020. About two and a half years ago?


https://www.mining-journal.com/feasibility/news/1353945/potential-partners-wait-for-fortunes-nico-study-update

https://www.coreconsultantsgroup.com/%F0%9F%8E%A5-fortune-minerals-attractive-project-with-four-different-payable-metals/

Filed 2019-03-12   Tx date 2019-03-11

$FT Fortune Minerals Limited

Goad, Robin Ellis 4 - Director of Issuer, 5 - Senior Officer of Issuer Direct Ownership

Common Shares 10 - Acquisition or disposition in the public market

$-50,902.80 -376,500 vol $0.1352 each

4,349,528

https://ceo.ca/@businesswire/fortune-minerals-provides-nico-cobalt-gold-bismuth-copper

https://www.miningweekly.com/article/nico-project-positioned-to-help-meet-growing-cobalt-demand-2019-02-15/rep_id:3650

[Marketbeat]

It seems nothing has come to fruition yet... not sure his sell order in 2019 were a tell at all- but all your points have been taken. Goad has "told" us enough to hang in, anticipating an announcement to change our fortunes .... dyor- I'm staying long- either way we will know what's up in a couple months . 

[Lotten]

No doubt that I've been mostly negative for a time now. But as an Investor I will have to face what I find negative too. I keep asking myself if my investment is still good or not. And one way of finding out is to share my thoughts with others. Good arguments are always welcome, arguments pointing at me as a person ends up in the bin. If I conclude there is more negative than positive, I will

[Marketbeat]

Well said Lotten.  I do agree- he should tell us more. I'm thinking he is purposefully leaving us in the dark to spur speculation.  I do believe the Nico is a sound project. Who knows how it will unfold. I hope all the best for everyone. I would like to remind everyone that to date goad/ fortune haven't lobbied the government- a tactic employed by Trent mell and Bryce

[red]

I think we can read between the lines on those 45 NDA s in terms such that you can lead a horse to water but can't make them drink comes to mind.  however, events of the last year could have several or many back at the trough? That's been generally reported as such.  what ever it is we have never been in a better position and cannot deny that each day week or month that go

[Lotten]

Red, maybee that person leading those horses to the water should have been someone else? I don't directly disagree with your comment, but the same words could have been used in a comment for two,three or four years ago by you, me, and a lot of other persons who posts on this bb. We keep repeating ourselves. You says that market reaction is a bit of a mystery, but is it a mystery when nothing

[red]

It's just my reading of the facts we know about NDA ... I will say this much as at some point on past years I did agree until I watch RG on panels, interviews etc.... he knows this inside out and he knows others as well so he is either a very good BS'er on the deposit and our best and only option at this time. I hang in on this because I believe that ....and yes to each his own. 

[Lotten]

Mr.Goad certainly knows this company inside out. He founded FT almost 35 years ago. So I think no one knows FT better than him. It's a matter of course. But what do we know about his negotiation skills? His ability to convey the benefits to invest in The Nico Project? The market shows little, or limited interest for FT. Shareprice down to 7,5 cents today. Where is the enthusiasm he should

[red]

There is too much good reasoning to that post I would not disagree at all and like the rest of us longs .... we wait to see what is in it for us who have supported this project ( for what we think have been good reasons) and even for those naysayers who still hang on.  our current price is not representative of what this FT project could be if the right parties step up to the plate, we have

[Jim1712]

Capital markets suck. The markets suck.  Your favourite stocks are all losers.   Just sayin !  We will need a capital injection soon or we will be toast.  Just sayin ! Jim 

[Lotten]

The capital market is not in our favour at the moment, that's for sure. The government support can be the catalyst we need.

[Tuckerthefox]

More from Troy at FT when I pressed for updates on financing. ----------------------------------------------------------------------------excerpts / quotes below from our news releases (the quotes are from our news reelase)? We are actively engaged with Alberta and others

[red]

Well He has to believe in something .... he is still there lol  From an AB perspective it may be a case of let's see what the feds do and we will match or better ? Or vice versa? Not uncommon with gov funding. Which could very well be the case with any number of potential find sources. We do know that FT, like few others, is ready for something.  Gales  of November coming

[Wallyneptune]

@Jim thanks for your honesty if Im reading between the lines correctly you are saying your out of rabbits to pull out of your hat you did your best the only thing I ask of you please dont let the company go into bankruptcy do a fire sale if you have to I wont hold it aginst you good luck & enjoy your retirement compliments of the shareholders Wally