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Fortune Minerals Limited (FT.TO)

Toronto - Toronto Delayed Price. Currency in CAD
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0.1450+0.0050 (+3.57%)
As of 10:04AM EST. Market open.
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  • T
    ThemBeanz
    Its nice to see that FT had been holding a solid share price lately, with increased volatility in the market.
  • B
    Brian
    Hmm,, FT has been stagnant, it is at its bottom and has been for years now, with little interest shown FTs way. little positive vibe on my end. cheers!
  • B
    Brian
    A little reality for the board,, lol Been with "Mr Goad" for over 15 years now,,im not expecting any significant announcement till summer , if he can pull it off,,i have little faith,, stay tuned! but don't hang on every day like some amazing deal will be announced,, Fortune just doesn't roll that way,, always painful,, cheers!
  • B
    Brad
    The President of Fortune Minerals is quoted in the media as saying they will announce an update on its refinery in Alberta or Saskatchawan sometime this week or next.
  • s
    steve
    Hopefully we hear news soon folks. Staying long
  • T
    ThemBeanz
    From the GNWT website:

    The evaluation committee has completed the final selection of projects to be funded. Successful applicants awarded $100,000 for their advanced exploration proposals are:

    Fortune Minerals Limited (gold, bismuth, cobalt, copper);

    and so on.

    Perhaps a bigger drilling program coming up. 2 stage results?
  • s
    steve
    Maybe something good is coming. Maybe the government will support some project in the nwt… maybe
  • J
    JeffreyB
    From a Pro/Con analysis...
    Pro
    1) Permitted/Feasible/Environmental issues all good.
    2) 4 metal play...which helps with individual price fluctuations.
    3) More Drilling
    4) Access Road near completion
    5) Rising commodity prices expected.
    6) Mine producing
    7) Lack of competition(ie new mines are increasing hard to fund/permit)
    8) location in North America a plus.
    Cons

    1) Partner needed to offset refinery costs.
    2) Cash Burn
    3) Flat stock price with 30M Market Cap.

    This has huge upside with metal prices (and demand) increasing. A partner makes this a slam dunk...and should multiply the stock price. The share price is very low meaning you can buy thousands of shares for relatively low price. Given the mine is functioning/ producing...makes it attractive. I would never go all in on something like this...but the wow is worth taking a small bite in my opinion.
  • s
    sly
    Mostly a cobalt play and we know the price of that. Plus cobalt is being eliminated if favour of nickel lithium batteries. I believe that is what is holding this stock back?
  • s
    steve
    Good technicals- somethings coming
  • M
    Mike
    Thinking about investing here. Given that Fortune has had this project on the back burner for over 20 years, fully permitted for the mine to operate since 2013, and nothing has happened since; what do you guys see happening now that there is a road built? Do you think it will be Fortune that gets this mine going? Or is this going to sit idle until an investor with deep pockets buys out the company and gets it going?
  • C
    Chris 111
    some dilution, but at least it was at .14 (not with warrants and not .10)
  • E
    Eric
    While the road is critical to the project it just helps that partner in their decision making.( we need that) Soon we should expect to hear the confirmation of the main deposit extension of an already significant deposit. FT is the convenience store of battery and critical metals and holds 1.2 million oz of gold to boot along with the largest known bismuth deposit on earth ( lead replacement). It’s a deposit that will get developed, in fact I think impossible that it does not ….it’s the only primary cobalt deposit in NA that is actual ready to go ….the road will help
  • C
    Cal
    Interesting volumes all of a sudden. Curious if it has anything to do with the next batch of samples being analyzed.
  • C
    Chadly
    more dilution yikes
  • k
    k
    That’s quite the volume. What’s going on?..
  • s
    steve
    In a few weeks we should hear about the assays… plus we still need to hear about refinery plans… staying long
  • T
    ThemBeanz
    Had a look on the GNWT infrastructure website, unless I'm missing something, it states the 93km all season road has been completed. I expect an official ribbon cutting ceremony to happen. This with drilling updates, and steady high gold prices is all good news for FT!
  • B
    Brian
    Yes , typically news about the road and drill results would have a dramatic effect on a company's share price,, but FT has a unpredictable price history,, i think nothing short of a Refinery deal and Partnership / buyout will move this company,, I'm a long time supporter so I'm hopeful,,, cheers!