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As of 4:00 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

fortune minerals ltd (FT) Snapshot

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fortune minerals ltd (FT) Details

Fortune Minerals Limited, a diversified natural resource company, together with its subsidiaries, is engaged in the exploration, assembly, and development of coal, specialty metals, base metals, and precious metals in the Northwest Territories and British Columbia. It explores for cobalt, gold, bismuth, copper, silver, zinc, and lead. Its principal properties include an 80% interest in the Arctos Anthracit property comprising approximately 16,411 hectares of coal exploration and development licenses in northwest British Columbia; and NICO gold-cobalt-bismuth-copper deposit that consists of 10 mining leases covering an area of approximately 5,140 hectares located in the Northwest Territories. Fortune Minerals Limited was founded in 1988 and is headquartered in London, Canada.

Founded in 1988

fortune minerals ltd (FT) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: C$310.0K
Chief Operating Officer and Vice President of...
Total Annual Compensation: C$272.6K
Compensation as of Fiscal Year 2013.

fortune minerals ltd (FT) Key Developments

Fortune Minerals Ltd. - Special Call

To review the purchase of a 100% interest in the Revenue Silver Mine in southwestern Colorado, U.S.A. from private arm's length vendors

Fortune Minerals Ltd., Annual General Meeting, Jun 24, 2014

Fortune Minerals Ltd., Annual General Meeting, Jun 24, 2014., at 16:30 US Eastern Standard Time. Location: The Albany Club. Agenda: To receive the audited financial statements of the Corporation for the financial year ended December 31, 2013 and the auditors' report thereon; to elect directors; to appoint auditors and to authorize the directors to fix the auditors' remuneration; to re-approve all unallocated options, rights or other entitlements under the Corporation's stock option plan, as set out in further detail in the accompanying Management Information Circular; to approve the issuance of 2,086,127 common shares of the Corporation to Procon Resources Inc. in connection with the completion of the second and final tranche of a private placement of an aggregate of 7,717,871 common shares of the Corporation, as set out in further detail in the accompanying Management Information Circular; and to transact such other business as may properly come before the meeting or any adjournment(s) or postponement(s) thereof.

Fortune Minerals Ltd. Announces Positive Updated Micon Feasibility Study & Updated Reserves for the Nico Project

Fortune Minerals Ltd. announced the results of an updated Feasibility Study report by Micon International Limited. for Fortune's 100% owned NICO gold-cobalt-bismuth-copper project. NICO is a planned vertically integrated project consisting of an open pit and underground mine and mill near Yellowknife in the Northwest Territories and a hydrometallurgical refinery near Saskatoon-the Saskatchewan Metals Processing Plant, where Fortune will process concentrates from the mine to high value metal products. Both sites have already received the environmental assessment approvals in their respective jurisdictions and are now in the final permitting phase. This updated Feasibility Study was prepared by Micon in order to document a number of improvements that have been made to the NICO project over the past year and to provide a comprehensive document to support negotiations currently underway for project financing with potential strategic partners and their banks. It updates the economics for the project from the 2012 front-end engineering and design study by Jacobs Minerals Canada Inc. and other engineering companies. The information used in the Micon Feasibility Study incorporates updated capital and operating costs and site designs by Procon Mining & Tunnelling Inc. and Hatch Engineering, additional underground reserves and mining designs by Procon and a financial model, execution plan and marketing information supplied by Fortune. The Micon study also relies on information previously reported in the 2012 FEED study, which includes: the mine site, concentrator and SMPP process plant designs by Jacobs with minor updates by SGS and Procon; the mine plan and schedule, mineral resources, and mineral reserves by P&E - except for additional underground reserves primarily outside of the open pit design that were developed and confirmed by Procon; metallurgical test work by SGS Lakefield Research Limited; waste rock disposal and tailings disposal and design, effluent treatment design and environmental and permitting work by Golder Associates Limited; mine access road design by EBA Engineering Limited; and site infrastructure by Jacobs, International Quest Engineering Ltd., and EBA, with minor amendments by Procon and Fortune.


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