Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to announce that it has secured a two-month extension to the option period to purchase the JFSL Field Services ULC (“JFSL”) brownfield site in Lamont County, Alberta where it plans to construct the NICO hydrometallurgical refinery. Fortune can acquire the JFSL site and facilities for C$5.5 million before the end of September 2022 by paying C$15,000 per month to extend the option. The JFSL site is comprised of 76.78 acres of lands in Alberta’s Industrial Heartland northeast of Edmonton, a consortium of five municipalities with the planning approvals already in place to attract heavy industry. The JFSL facility is a former steel fabrication plant with 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. It is also situated close to sources of reagents and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO development.
Fortune Minerals Extends Purchase Option for NICO Refinery Site in Alberta Until the End of September
Jul 14, 2022
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