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Fortune Minerals ( (TSE:FT) ) has shared an update.
Fortune Minerals has engaged P&E Mining Consultants Inc. to update the Mineral Reserve estimates, mine plan, and production schedule for the NICO Project Feasibility Study. The project is expected to benefit from higher metal prices, particularly gold and bismuth, which will enhance its economic viability. The updated feasibility study will incorporate optimizations and is anticipated to significantly improve project economics due to current higher commodity prices and a favorable currency exchange rate. The NICO Project is positioned to strengthen the North American critical mineral supply chain, providing a reliable source of critical minerals necessary for energy transition and technological advancements.
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 Limited is a company operating in the mining industry, focusing on critical minerals such as cobalt, gold, bismuth, and copper. The company is engaged in the development of the NICO Project, which includes a planned open pit and underground mine and concentrator in the Northwest Territories, as well as a hydrometallurgical facility in Alberta. This project aims to produce value-added products from these minerals, contributing to the North American critical mineral supply chain.
Average Trading Volume: 492,466
Technical Sentiment Signal: Buy
Current Market Cap: C$47.57M
Find detailed analytics on FT stock on TipRanks’ Stock Analysis page.