LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () is pleased to provide an update of ongoing work on the vertically integrated NICO cobalt-gold-bismuth-copper critical minerals project in Canada (“NICO Project”). The NICO Project is comprised of a planned mine and concentrator in the Northwest Territories (“NWT”) and a hydrometallurgical processing facility in Lamont County, Alberta where concentrates from the mine, and other feed sources, will be processed to value-added products needed for the energy transition, new technolog...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () is pleased to announce that it has retained Worley Canada Services Ltd. (“Worley”) to conduct additional engineering and lead the preparation of an updated Feasibility Study for the NICO Cobalt-Gold-Bismuth-Copper Project in Canada (“NICO Project”). The NICO Project is an advanced Critical Minerals development comprised of a planned mine and concentrator in the Northwest Territories (“NWT”) and a hydrometallurgical recovery plant in Lamont County, Alberta (“Hydrometallurgical Fa...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () is pleased to announce that it has entered into a new option agreement with JFSL Field Services ULC (“JFSL”) to purchase the brownfield industrial site in Lamont County, Alberta where it plans to construct its hydrometallurgical refinery (“Alberta Refinery”). The Alberta Refinery would process metal concentrates from Fortune’s planned NICO cobalt-gold-bismuth-copper mine and concentrator in the Northwest Territories (“NWT”) (collectively, the “NICO Project”) and provide a reliab...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () announces that the option to purchase the JFSL Field Services ULC (“JFSL”) brownfield industrial site in Lamont County, Alberta could not be completed before the expiry of the option on June 30, 2024. Both, Fortune and JFSL remain willing and able to complete a different transaction that would enable the Company to complete the purchase under a new arrangement as soon as possible. Fortune will provide an update on this plan when its discussions with JFSL have been concluded. A...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () reports that the nominees listed in the management information circular for the 2024 Annual Meeting of Shareholders held on June 25, 2024 (the “Meeting”) were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below: Nominee Votes For % For Votes Withheld % Withheld Robin E. Goad 131,382,847 99.39% 806,875 0.61% Glen Koropchuk 128,779,281 97.42% ...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () is pleased to announce that it has secured additional funding from the Government of Canada to help advance the Company’s 100%-owned, vertically integrated NICO cobalt-gold-bismuth-copper Critical Minerals asset in Canada (“NICO Project”). The Government of Canada has agreed to provide contribution funding for up to C$7.5 million to support 75% of the costs for additional engineering and test work, totalling approximately C$10 million through the Global Partnerships Initiative (...
LONDON, Ontario--(BUSINESS WIRE)-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) () is pleased to announce that the United States Department of Defense (“DoD”) has awarded the Company a US$6,380,555 (~C$8.74 million) grant under the Defense Production Act (“DPA”) Title III program to expand the domestic capacity and production of cobalt for the battery and high strength alloy supply chains. This non-dilutive source of capital will allow Fortune to advance the vertically integrated NICO cobalt-gold-bismuth-copper development asset in Canada (“NICO Project”) towa...
Moody's Ratings (Moody's) affirmed Alphabet Inc.'s (Alphabet) Aa2 long-term issuer rating, Aa2 senior unsecured notes rating, and Prime-1 rating on the short term commercial paper program. The outlook is stable. "Despite competitive, legal and regulatory pressures, Alphabet's management team has r...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
What you need to know: • The precious metals markets were down slightly in the month of June, however, we view this as a healthy consolidation period following significant price increases since November 2022. • M&A slowed in June primarily due to the new uncertainty regarding interest rates following strong economic data and the BoC raising 25bps. • Safe-haven assets like gold and silver continue to look highly attractive with inflation remaining sticky and rates likely to decline by 2024. Sent...
Four Directors at Fortune Minerals Limited bought 6,500,000 shares at 0.010CAD. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two...
What you need to know: • The precious metals and base metals markets were down in the month of May, however, we view this as a healthy pull-back following two strong months in March and April. • M&A remained elevated in the month following what appears to be the peaking of rates and inflation, and persistent elevated metals prices. • With inflation remaining sticky, we believe investors have begun turning to safe-haven assets like gold and silver. Sentiment Update Following two very strong mont...
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