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Fortune Minerals Limited (FT.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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0.1100+0.0050 (+4.76%)
At close: 03:03PM EDT
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  • S
    Little odd we havnt heard anything from these guys. Are they buying the property or not…..
  • R
    What’s going on with this today?
  • T
    Drill results out. Looks positive, adding to reserves. Sad to see no feedback from management and a plan going forward or what this means for Fortune.
  • T
    Budget being announced this week, updated drill results this month, only permitted cobalt mine in north America. If big things don't happen this month, I'll be surprised! Staying long!
  • f
    Is there anybody alive out there ☠️
  • C
    Chris 111
    it's so quiet! sometimes that is a good thing.
  • J
    How long does it take to get some assay results back?
  • s
    Fortune Minerals CEO Robin Goad joined Steve Darling from Proactive to share news about the exploration company that is continuing it work on its NICO Cobalt...
    Fortune Minerals CEO Robin Goad joined Steve Darling from Proactive to share news about the exploration company that is continuing it work on its NICO Cobalt...
  • s
    Factually speaking- we were way undervalued. Based off the 2014 FS study we will yield over 25% irr based off of today’s gold and cobalt prices. Add critical minerals lists/domestic supply chains to the mix and you have a winner. The capex is large (800mill)... but push has now come to shove... government/corporations/vehicle oems/military want and need what we have and we are factually the closest large scale production project/deposit that can be a producer. Staying long: upcoming catalysts- refinery announcement, partner/project financing/ government financing/ resource expansion. DIAMOND HANDS FOLKS. We are just starting! Dyor GLTA
  • J
    From a Pro/Con analysis...
    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.

    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.
  • B
    Gotta start somewhere ,, the fact that kenney alta premier even mention it shows support for the project,, yes many hurdles, but in this current political environment globally , our project along with Electra Battery materials , makes sense now with EV/Green Energy coming online ,, like it or not FTs timeline for production isnt till 2025 ish in that range,, We have $15 million coming due this year and we need to come up with $5.5 million to buy Refinery , so yes! Fortune has Huge hurdles to climb,, at least there "starting the ascending of the Mountain " where up until now we weren't sure of our future. cheers! 15 year plus shareholder,,
  • J
    I used to own this back in 2015 but got out when I realized it was going to be a long hold.

    Looking at getting back now that they have made decent progress and things seem to be lining up. I just had a question if someone would be kind enough to answer:

    The refinery they want to build, is it for processing the cobalt? Full disclosure I have a large position in FCC. Any chance they would consider using their refinery which should be up and running in 18-24 months?

  • B
    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.
  • X
    I am surprised that FT is trading at these levels. Even more so, when we reached 0.38 not so long ago. The company and NICO project seem attractive for a long term play. I am sure there must be interest from big players in the industry, as FT has hinted in the past. My only concern is the timing, as production will still take 3 more years...
  • T
    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!
  • C
    The NICO project is an advanced Canadian Critical Minerals project and one of the few near-term development stage cobalt assets in the world outside of the Democratic Republic of the Congo. NICO is comprised of planned open pit and underground mine and mill, located approximately 160 km northwest of Yellowknife, Northwest Territories, and a related hydrometallurgical refinery in southern Canada to treat concentrates from the mine and produce cobalt sulphate, gold doré, bismuth ingot and oxide, and copper precipitate. The NICO Project has been assessed in a positive Feasibility Study in 2014 and the facilities in the Northwest Territories have received environmental assessment approval and secured the major mine permits. The NICO Deposit contains Proven and Probable Open Pit and Underground Mineral Reserves totaling 33 million tonnes containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. The NICO Deposit stands out among other Critical Mineral and cobalt development projects globally with more than one million ounce in-situ gold as a highly liquid and countercyclical co-product.
  • E
    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
    I hauled some of the original samples from fortune to Marmora, Ont back in 2008 to get analyzed. The facility was very excited, at that time they had told me just the gold content in the sample alone would make the mine very profitable. Still have a chunk of gold ore that had fallen out of the nylon tote bags they were shipped in. Been invested ever since. Long hold, but the return will come
  • T
    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?