Fortune Minerals Welcomes Canada's C$3.8 Billion Critical Minerals Strategy to Support Domestic EV Supply Chains

Apr 12, 2022

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to report on the C$3.8 billion of financial support for Critical Minerals announced in last week’s Government of Canada budget for 2022 (“2022 Budget”). The funds are being allocated to accelerate domestic production and processing of Critical Minerals, particularly cobalt, nickel and lithium used in the manufacture of lithium-ion rechargeable batteries for electric vehicles (“EV’s”), portable electronics, and stationary storage cells to make electricity use more eficient. Fortune’s 100%-owned NICO cobalt-gold-bismuth-copper project (“NICO Project”) is a vertically integrated Critical Minerals development comprised of a planned open pit and underground mine and mill in Canada’s Northwest Territories (“NWT”) and a planned hydrometallurgical refinery in Alberta. The NICO Project is one of the few advanced cobalt development assets in the world that can be developed in the timelines required to meet current cathode chemistries and will benefit from implementation of these programs. The Mineral Reserves for the NICO deposit also include 1.1 million ounces of gold, 12% of global bismuth reserves, and copper as a minor by-product.

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us ETF Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.