Fortune Minerals Ltd T.FT

Alberta Refinery Site And An Updated Feasibility Study

[Lotten]

December is soon coming to an end, and so is the extended option period to aquire the Alberta refinery site if I understand the agreement correct. So what will happen next? Do we see another extension, or will there finally be a private placement on the table to pay for the site? Or do we have to let it go?

A year has almost passed since we first heard about the the Alberta refinery site. What was the intention by the management when they went out to buy a refinery site without money to pay for it? We don't know because they don't tell us. I haven't forgot that Haywood is looking for money, and that the capital market is not at its best for the moment. But still, would any of you be looking for a flat or a house to buy without financing? And afterwards be paying a monthly fee for the right to buy while you're looking for financing? In my opinion I find that tactic quite desperate. Off course it could be me thinking wrong, but as said, we don't know because the company won't tell us. Hopefully we're not facing another failure by the management.

Some of you expect a partner to pay for an updated feasibility study. But shouldn't it be the other way round? An updated feasibility study should attract partners. I find it hard to understand why an updated feasibility study isn't priority no.1 by the management at the moment. But again, what shall we be thinking when the management won't tell us the direction to shareholder values?

Good luck to all shareholders!

[Jim1712]

Hoping to get that $25 million USA to solve that problem.  Jim 

[red]

Nice vent !  As I see it ....no site = no FS, no money = no FS, No engineering design concepts ( using existing buildings = no FS. so basically if your gonna spend millions on a FS you should own the land or have it seriously tied up and have a plan that you can determines new cost of development of the project, keep in mind this can be fast tracked ...if you have the money.  in

[MoneyMan123456]

lol, ya ummmm no!   It's starting to get into fantasy land thinking that an engineering and design consultant is going to start donating resources in the "hopes" that they will be selected as an EPCM contractor or other design resource.   There are no words. It's just so ridiculous, I can't even start.  Every month management is kicking the can down

[parahyangam]

A debenture debt has hung over this company and its shareholders for 7 yrs. For 7 yrs there has been no attempt to ratiionalize it. They wait until the clock struck midnight and then dilute the share base like a bat out of hell Anybody think this is NOT deliberate? ha ha ha

[elitespooner]

7yrs, who owns the debt ??