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 (FTMDF) is a mineral exploration and development company focused on advancing high-potential mining projects. This page serves as the definitive source for official news, press releases, and operational updates directly from the company and trusted industry sources.
Investors and analysts will find timely information on key developments including earnings reports, strategic partnerships, resource estimates, and project milestones. Our curated collection ensures access to factual updates about exploration progress, technological implementations, and market positioning without speculative commentary.
Content is organized to prioritize transparency and relevance, featuring regulatory filings, joint venture announcements, and operational efficiency reports. Bookmark this page for streamlined tracking of FTMDF's advancements in mineral asset development and industry engagements.
Fortune Minerals has secured a $6.38 million U.S. Department of Defense grant to accelerate the NICO Project, aiming to expand cobalt production for battery and high-strength alloy industries. This funding will advance the project's construction decision and includes metallurgical tests, securing permits, preparing management plans, and updating the feasibility study. The NICO Project will provide critical minerals like cobalt, gold, bismuth, and copper in North America, reducing dependence on imports from politically unstable regions. The project aligns with U.S.-Canada Critical Minerals Collaboration and supports the Inflation Reduction Act’s goals, making electric vehicles more tax-credit eligible. Annual production is projected at 1,800 metric tonnes of cobalt, 47,000 Troy ounces of gold, 1,700 tonnes of bismuth, and 300 tonnes of copper, potentially enhancing the battery supply chain and e-mobility transition.
Fortune Minerals Limited (TSX: FT, OTCQB: FTMDF) announces a delay in filing its audited annual financial statements for the year ended December 31, 2022. The company is currently undergoing an audit, which is expected to take an additional three weeks, thus missing the March 31, 2023 deadline. Fortune applied for a management cease trade order, which was denied by the Ontario Securities Commission, leading to the likelihood of a failure to file cease trade order that will restrict trading of its securities in Canada. The company maintains it has the resources to resolve this default and will follow alternative disclosure guidelines.
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