Welcome to our dedicated page for Fortune Minerals news (Ticker: FTMDF), a resource for investors and traders seeking the latest updates and insights on Fortune Minerals stock.
Fortune Minerals Limited (OTCQB: FTMDF) regularly publishes news updates focused on the advancement of its NICO cobalt-gold-bismuth-copper critical minerals project in Canada. The company’s releases highlight technical milestones, financing arrangements, government support and key steps toward a potential construction decision for this vertically integrated mining and processing development.
Readers of the FTMDF news feed can expect detailed coverage of metallurgical test work and process optimization at both the planned Northwest Territories concentrator and the Alberta hydrometallurgical facility. Recent news has described improvements in grinding and flotation circuits, validation of pressure oxidation conditions for cobalt and copper, and optimization of bismuth leaching, cementation and refining circuits. These updates often include specific recovery results and process design changes that feed into the company’s updated Feasibility Study.
Fortune’s news flow also covers project financing and government-backed programs. Examples include a convertible security funding agreement with Lind Global Fund III, LP, a loan from Prosper NWT to complete the purchase of the Alberta refinery site, and contribution funding from the U.S. Department of Defense, Natural Resources Canada and Alberta Innovates. These items are important for investors tracking how the NICO Project is being funded through feasibility, engineering and permitting stages.
Additional releases provide updates on site acquisitions and permitting, such as the completion of the Lamont County, Alberta refinery site purchase, and on corporate matters like annual meeting results and senior management appointments related to project development and finance. Commodity market commentary related to cobalt, bismuth, gold and copper, as it pertains to the NICO Project, is also a recurring theme.
For investors and analysts following FTMDF stock, this news page offers a centralized view of Fortune Minerals’ progress on critical minerals development, technical de-risking of the NICO Project, and evolving relationships with government and industry partners.
Fortune Minerals (OTCQB: FTMDF) secured a C$10,000,000 convertible security from Lind Global Fund III to retire C$11.84 million of maturing debts and provide working capital. Accrued interest of C$3,584,016.93 will be settled by issuing 35,840,170 common shares; the convertible has a C$11.8M face value, 24‑month term, lien on mining assets, and attached warrants.
The Company said remaining proceeds will fund NICO Project work programs while final TSX approval is pending.
Fortune Minerals (OTCQB: FTMDF) has applied for government funding to advance the NICO cobalt-gold-bismuth-copper project. Fortune and the Tłıchǫ Government seek up to $50 million from the Critical Minerals Infrastructure Fund for a spur road. The company also responded to a U.S. Defense Industrial Base Consortium proposal focused on bismuth processing.
NICO contains ~12% of global bismuth reserves and >1 million oz in-situ gold; the planned Alberta hydrometallurgical facility would produce 99.99% bismuth plus cobalt and copper products.
Fortune Minerals (OTCQB: FTMDF) signed a backstop agreement with SECURE to evaluate waste disposal options for its planned Alberta hydrometallurgical refinery supporting the NICO Project.
SECURE will study 1A deep brine injection well sites, pumping and piping infrastructure, prepare preliminary engineering and cost estimates, seek required permits, and plan disposal of ~200,000 metric tonnes/year of process residue solids to a Class 2 landfill. The firms expect to negotiate a definitive 10-year operating agreement after preliminary work completes.
Fortune Minerals (OTCQB: FTMDF) completed validation test work on an optimized hydrometallurgical flowsheet to produce battery‑grade cobalt sulphate heptahydrate for the NICO Project. Tests at SGS verified higher metal recoveries from a simplified flow sheet, with cobalt extractions of 97% and copper 74% at the design feed grade (vs 95% Co / 70% Cu in 2008), and gold recoveries of 97–98%. The cobalt sulphate met battery manufacturer specs at 99.995% CoSO4•7H2O (20.959% Co). Bench tests showed a ~99% arsenic removal via pre‑neutralization, potentially reducing equipment size and capital/operating costs. Work was supported by NRCan GPI, a U.S. Defense Production Act Title III award, and Alberta Innovates.
Fortune Minerals (OTCQB: FTMDF) announced on December 15, 2025 that it closed a C$3.8 million loan from Prosper NWT and completed the purchase of the Lamont County, Alberta brownfield site and facilities for C$6.0 million (including C$3,037,500 previously paid).
The 76.78-acre site adjacent to the Canadian National Railway includes 42,000 sq ft of serviced shops and will be retrofitted as a hydrometallurgical Alberta Refinery to process concentrates from the NICO cobalt-gold-bismuth-copper project in the Northwest Territories. Prosper NWT holds security over the assets during the loan. JFSL retains a license to occupy the site up to 18 months, subject to earlier termination rights.
Fortune Minerals (OTCQB:FTMDF) entered a binding agreement for a C$3.8 million loan from Prosper NWT to complete purchase of the Lamont County, Alberta Refinery Site and existing facilities from JFSL.
The loan is up to 60 months at a fixed 8.45% interest rate, with interest-only payments for 24 months then blended payments over 36 months (180-month amortization basis). Fortune has paid C$3,037,500 toward the C$6 million purchase price; the loan will enable closing by year-end. The site includes 76.78 acres and >42,000 sq ft of serviced shops adjacent to CN Rail, and is expected to lower capital and operating costs for the NICO cobalt-gold-bismuth-copper project and advance a construction decision.
Fortune Minerals (OTCQB: FTMDF) retained P&E Mining Consultants to prepare updated Mineral Reserve estimates, mine plan, and production schedule for the NICO Project Feasibility Study being prepared by Worley and others.
The update will use revised costs, recoveries, metal prices and FX, revert to a 4,650 tpd mill throughput, prioritize higher‑margin underground gold ores early, and stockpile low‑margin ore for later processing. Prior 2014 reserves: 33.1 Mt containing 1.1 Moz Au, 82.3 Mlb Co, 102.1 Mlb Bi, 27.2 Mlb Cu over a 20‑year mine life. Current market prices cited (approx): Au US$4,000/oz, Co US$22/lb, Bi US$17/lb, Cu US$5/lb and C$1=US$0.71.
Fortune Minerals (OTCQB: FTMDF) has announced the reappointment of David Massola as Vice President of Business Development to advance the NICO critical minerals project. Massola, who previously served as Fortune's VP of Finance and CFO from 2016 to 2020, brings extensive mining industry experience, including 20 years at BHP and executive roles at DeBeers Canada, GlobeStar Mining, Continental Nickel, and GoldQuest Mining.
The NICO Project is a development-stage asset that includes a planned mine and concentrator in Northwest Territories and a hydrometallurgical facility in Alberta. The project will produce cobalt sulphate, gold doré, bismuth ingots, and copper cement for energy transition, new technologies, and defense applications. The deposit contains 1.1 million ounces of in-situ gold as a countercyclical co-product.
Fortune Minerals (OTCQB: FTMDF) has secured a new convertible security funding agreement with Lind Global Fund III, LP for C$3.155 million. The convertible security has a two-year term with a face value of C$3.774 million and is secured by the company's mining assets.
The funding will support working capital needs and pre-pay government-supported work programs for the NICO Cobalt-Gold-Bismuth-Copper Critical Minerals Project. Fortune has already received ~C$17 million in non-dilutive funding from various government entities including the U.S. Department of Defense and Natural Resources Canada.
The conversion price is set at 85% of the five-day VWAP of Fortune's common shares. Lind will receive a C$120,000 closing fee and 15.64 million warrants exercisable at C$0.1141 per share for 60 months.
Fortune Minerals (OTCQB: FTMDF) has reported successful process optimization test results for its NICO cobalt-gold-bismuth-copper critical minerals project. The tests, conducted at SGS Canada, demonstrated significant improvements in cobalt recoveries (97%), copper extraction (74%), and gold recoveries (97-98%) at the planned Alberta Hydrometallurgical Facility.
The optimized process eliminates several steps from the previous 2008 flowsheet, potentially reducing capital and operating costs. The project has secured C$17 million in non-dilutive funding from various government sources, including the U.S. Department of Defense and Natural Resources Canada, supporting the development of North American critical minerals production.
The NICO Project will provide 1.1 million ounces of in-situ gold and establish a vertically integrated North American supply of cobalt sulphate, gold doré, bismuth ingots, and copper cement.