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Fortune Minerals ( (TSE:FT) ) has provided an update.
Fortune Minerals has completed the acquisition of a site in Lamont County, Alberta, for C$6 million to construct a hydrometallurgical facility. This facility will process concentrates from the NICO project, which includes a mine and concentrator in the Northwest Territories. The development of the NICO project aims to strengthen North American critical mineral supply chain resilience, providing a reliable source of battery-grade cobalt sulphate, bismuth ingots, and copper cement. The project is strategically positioned to leverage existing infrastructure and expertise in the Alberta Industrial Heartland, enhancing the company’s industry positioning and contributing to supply chain security.
The most recent analyst rating on (TSE:FT) stock is a Buy with a C$0.42 price target. To see the full list of analyst forecasts on Fortune Minerals stock, see the TSE:FT Stock Forecast page.
Spark’s Take on TSE:FT Stock
According to Spark, TipRanks’ AI Analyst, TSE:FT is a Underperform.
Fortune Minerals’ overall stock score is adversely affected by its weak financial performance, characterized by significant losses, negative equity, and cash flow difficulties. Despite some positive technical momentum and recent corporate developments in the NICO Project, these factors are overshadowed by the company’s precarious financial position and negative valuation metrics.
To see Spark’s full report on TSE:FT stock, click here.
More about Fortune Minerals
Fortune Minerals is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. The company also owns the Sue-Dianne copper-silver-gold deposit, which is a potential future source of incremental feed to extend the life of the NICO project.
Average Trading Volume: 635,305
Technical Sentiment Signal: Buy
Current Market Cap: C$51.48M
For a thorough assessment of FT stock, go to TipRanks’ Stock Analysis page.