Fortune Minerals Ltd T.FT

Re: who owns the team?

[Yellowknifer69]

Hello my fellow long suffering holders of wall paper!

When you have to prepare an audited financial statement, it's pretty straight forward.
You take all the revenue earned (in our case none)
You take all the expenses (in our case, a small amount)
Your accountant decides whether the statements present fairly and,
You file the ARR.

I, like others, am unsure of what the delay would be and so am left to wonder -
Who owns the team?

No press release,  no messages of reassurance from the CEO. 

Just more of nothing?

Oh well, I guess we plan for summer holidays and dial in,  next September.

Yellowknifer

[sirfartalot]

All in my humble opinion: Do you think they can stall to the end of December and dilute shareholders another 20-80% when the next portion of debt comes due ?? Is there something preventing them from selling the deposit and project development? Pretty awesome performance and track record eh. Good luck to all longs, We wait ...

[elitespooner]

Dilute ... ? Theyll claim bankruptcy and just go Private...

[red]

Prevent from selling ? An astute and significant shareholder (s) ....is all I can think of.

[geolith]

Arguably, Fortune's most valuable asset is Nico.  I understand that in CCRA, creditors and the company agree that receivership is the way to go.  An independent reciever consolidates all assets and liabilities and puts all of it up for sale.  The creditors are gouped into supersecured (governments), first secured (employess), and then secured and unsecured creditors.  Oh

[elitespooner]

sheesh; thought the Chinese already owned this .....

[ToadyToadman]

The only option left for us SH is the ability to dispose of the worthless shares for the taxloss (this also requires a shareholder to have a winner to claim against) and we have to wait for the bankruptcy to be initiated to dispose. Bankruptcy will be triggered when the board resigns. Fortune is done. We shareholders can hold out hope but every indicator shows that we will never see our money back

[Tuckerthefox]

What makes you think they won't trade again?

[ToadyToadman]

Mostly from past experience with a company that went bankrupt. If this was only a financial reporting problem it would have been complete by now (we are 6 weeks into a 3 week issue) PR would have been all over it trying to settle the situation. Instead there has been ZERO news. This is probably due to a gag order on management relating to the dire state of affairs at the company. The real test

[Allman]

Wouldn't a gag order be posted in Sedar? Considering they just renewed their land use permit and did a private placement, they must have some runway. With Lascaux and Procon holding approximately 20% and 10% respectively, would they let it happen that easily without some intervention? And considering possible DOD and Fed funding being imminent and supposed meaningful discussions with a large

[parahyangam]

LASCAUX is controlled opposition. Way too stupid to be real. They had a chance to grab NICO and ARCTOS and instead now own 20% of nothing. How many fake shares are short?

[sirfartalot]

All in my humble opinion: It sure would be nice for some positive news prior to hypothetically starting to trade again. It would be even nicer for positive news to vote inline with management recommendations at the next agm. That might make any shorters squirm a bit. Good luck to all longs, We wait