Fortune Minerals Ltd T.FT

Fortune Minerals and the Arctos coal licenses

[Nemesis]

In accordance with the agreement reached in May 2015, the Arctos Anthracite joint venture (a 50-50 joint venture between Fortune Minerals and POSCO) has sold its interest in Klappan, totaling 16,411 hectares, to BC Rail for $18,308,000.

Press release at the time:
https://www.fortuneminerals.com/news/press-releases/press-release-details/2015/Fortune-Minerals-and-POSCAN-complete-sale-of-Arctos-coal-licenses-to-BC-Rail-with-a-10-year-repurchase-option/default.aspx


Excerpt:

[...] The AAJV partners maintain the exclusive right to purchase back the coal licenses at the same price for a 10-year option period. [...]

It is worth noting that the price of metallurgical coal has been rising ever since:


As some have already noted on this forum, this asset appears to be grossly undervalued, considering that its current value is surely higher than the price obtained in 2015, and that it can be bought back at the same price until May 2025!

[ProfessorMetal]

Thank You for this Post. As ahareholders we must have some right or vote to hold this management team accountable. At the end of the day posters on this forum seem to have superior ideas on this company than the management. Sadly the value of this stock is no where near the value it could be. And therefore who's fault is that ? It's ours because : are any shareholders putting any pressure

[Nemesis]

I share your perplexity ... these share purchases at $0.01 by management are rather surprising. Moreover, note that Mahendra Naik has indicated a purchase price of $1.00 per share, so ... not sure we can trust what's posted on SEDI! You know, even if they call it public markets, they don't always tell us everything. There are behind-the-scenes games, financing negotiations (which is

[red]

Your questioning exactly what the rest of us wonder ( literally for years  ) but at same time wonder does management or our board care? And if they do, what indication do we have of that and what do we expect them to say or do? I have a sence of what management should do. And I know what a board can actually do. But at same time nothing happens. If it's not the feds and other