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Fortune Minerals Limited (FT.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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0.08000.0000 (0.00%)
At close: 02:14PM EDT

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  • M
    Mike
    Well, they delayed the purchase of their prime Alberta Heartland facility until the end of Sept, at a cost of $15,000 per month. The end of Sept. is pretty much here. Looks like Goad is not going to hemorrhage another 15K/month to extend again and give up on the dream of their own refinery; at least for now. I still think they need someone other than Goad, who has been milking a nice salary for the past 25 years, while throwing shareholders money away on bad business deals.
  • M
    Mike
    I am smiling with the thought that Yahoo informs me that I have "lost" $2k today, based on the share price of a $50 trade.
  • D
    DJ
    Man, been holding this for so long I'm afraid to say it's feeling hopeless! I'll keep my stake I guess as it isn't much money but I think we gotta ask ourselves: if this is what we think it is then why hasn't it been worked out yet?
  • B
    Brian
    i dont have any idea how it will shake out , but it will shake at some point before the end of sept or November according to the Financier
  • B
    Brian
    Well coming from a 15 year bag holder , my 2 cents , mike is accurate, but i think this time Goad hired a firm to do the last minute negotiations. Unfortunately a Nico fire sale is possible and we get squeezed into bankruptcy. i am hoping this total lack of respect for the small so called "shareholder" is typical of a amateurish run 26 year old company run by a geologist and not terrible news lol Good news is we don't need the refinery for Nico to succeed, also if bankruptcy occurs then Nobody wins including the fancier. imo this deal is waiting for Fed Can/USA money possibly,, With all the Macro news articles i have been reading, i wouldn't be surprised to see American input of some sort or even our own hero's the Canadian feds,,,lol VW , Posco, Procon could be involved,, just guessing on my part from reading,,, good luck and cheers!
  • B
    Brian
    lol We are still holding our collective breaths ! while the "competent" ?management sign the deal of the year in CMs with maybe VW? or the USA national defense fund/EV fund? , and still doesn't screw the small shareholders
  • C
    Chris 111
    quiet times! did everyone take the summer off?
  • k
    ko
    FT is in major support and should be accumulated. Also found Big copper discovery by RMESF and major upcoming copper shortage should be bonanza for Red Metal shareholders. https://richardacavalli.wixsite.com/greenplanetmicrocaps/rmes-readies-for-copper-shortage
  • J
    J
    Patiently waiting
  • R
    Rac19
    Same. Fingers crossed our waiting will be worth it
  • s
    steve
    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
    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.
  • B
    Brian
    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
    Jeff
    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?

    Thanks!
  • T
    ThemBeanz
    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!
  • 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.
  • X
    Xeto
    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
    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!
  • P
    PianziDisano
    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.