Post by
Allman on Jul 27, 2023 2:11pm
FT Extends Option to Acquire JFSL Alberta Refinery Site
Aside from the end of year extension, the new bit this time around is ... If Fortune exercises the option to purchase the refinery site, the extension payments will be applied against the purchase price. JFSL is a subsidiary of Worley Group (“Worley”), a major international engineering services and construction management company. As partial consideration for the extension, Worley will also be a preferred contractor with respect to development of Fortune’s refinery. In addition, JFSL will have the right to continue using the site as a licensee while Fortune completes the permitting required to construct and operate the refinery.
Comment by
ToadyToadman on Jul 27, 2023 3:59pm
As FT is on the brink of bankruptcy how will they possibly pay for this? Consolidation and/or dilution to fund the refinery is going to be brutal. Sure buying for $5.5 million isn't so bad to buy the land and buildings but what is the cost to actually get a refinery up and running? Please,Please someone buy this. It's our only hope.
Comment by
zardoz00 on Jul 27, 2023 9:11pm
It boggles the mind that public or private financing isn't yet a done deal for the project. wtf is wrong that we don't know.
Comment by
red on Jul 28, 2023 7:32am
Yep....boggling the mind is an understatement......just seems to me our governments just have not yet put all their $$ resources on the table to entice this development....it's hard ball with miners and Gov. In the end .... miners will win, and we will have to wait.