Login

u/mikeylikesit47

r/PennyStocksCanada r/Baystreetbets r/MetalsOnReddit r/CriticalMineralStocks r/SpaceInvestorsDaily r/PennyProspectors r/MDASpaceInvestors
Another Massive Step Forward For Fortune Minerals - $50 M in Government Funding!
▲ 32 r/PennyProspectors+4 crossposts

Another Massive Step Forward For Fortune Minerals - $50 M in Government Funding!

Not sure if you've been following Fortune Minerals ($FT $FTMDF), but they had a very significant announcement today - the Canadian (Federal) government is granting them up to $50 Million to build an access road to their NICO Project. Getting this sort of support from the Canadian government shows both their support but also the overall potential of this project. The NICO Project is an excellent Cobalt-Gold-Bismuth-Copper asset, and on top of that Fortune plans to also develop a refinery. The Canadian government has stressed that they want more mineral refining in Canada which makes Fortune a true two-headed beast! This money will go a long way to reduce their CAPEX and improve IRR/rate of return.

For those interesting - here is a more fulsome review of their asset. This was posted when they were trading at 7 cents. The price jumped to 21 cents but has now settled to 15 cents.

$FT $FTMDF – Fortune Minerals - Late-Stage Critical Mineral Miner with Massive Upside Potential : r/Baystreetbets

Next major catalyst is likely when they release their updated feasibility study (which should be end of July).

ca.news.yahoo.com
u/Then_Marionberry_259 — 10 days ago
▲ 26 r/PennyProspectors+3 crossposts

Generation Mining Closes Yet Another Key Financial Agreement

You may have seen my post last week about Generation Mining ($GENM $GENMF) completing a deal related to financing this Marathon Project ( Link Here: https://www.reddit.com/r/Baystreetbets/s/4r4ktEKpZA), while this morning they announced another key component! Per this link $GENM has now secured $200 M CAD from the Canada Infrastructure Bank (CIB). This is yet another huge piece to the puzzle, and $GENM is now extremely close to full project financing. What's exciting about this agreement is that CIB's mandate is to support projects that will grow Canada's economy, and because of this they offer loans at extremely good rates (i.e., sometimes interest free for years).

Such an exciting time for $GENM. I recommend readers of this study up on the Lassonde curve because $GENM is currently in the 2nd trough and should see incredible price appreciation when this thing gets fully financed and constructed.

businesswire.com
u/mikeylikesit47 — 14 days ago
▲ 24 r/CriticalMineralStocks+2 crossposts

A Massive Step Forward for Generation Mining - Funding Received!

Generation Mining ($GENM $GENMF) made a massive announcement this morning - they have received credit approval for financing of their Marathon Project! $GENM Marathon Project is a  copper‑palladium deposit in Northwestern Ontario. The feasibility study showed excellent numbers ($1.0 B NPV, 2 year payback period) but many of us know just how hard it is to actually get financing, so I consider this a massive step forward. As per $GENM roadmap, they are also working with the provincial and federal governments and I expect an announcement related to this will come next. Very exciting times for Generation Mining!

finance.yahoo.com
u/Then_Marionberry_259 — 19 days ago
▲ 17 r/PennyProspectors+4 crossposts

I first posted about Fortune Minerals ($FT $FTMDF) in Fall 2025 (see post here – https://www.reddit.com/r/Baystreetbets/comments/1o6d5eq/ft_ftmdf_fortune_minerals_latestage_critical/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button ). Since this post Fortune has continued to advance their NICO Project and their share price has increased nicely from around $0.09 CAD to $0.13 CAD. That said, I believe that this is only the beginning, and that Fortune sees considerable price appreciation and re-rating as it rides the Lassonde Curve along the path of development.

Since my last post Fortune received additional funding from the Government of the Northwest Territories (GNWT) for the purchase of their refinery location. As mentioned in my previous post, GNWT is highly motivated to see this project get developed because there are multiple diamond mines closing in the area and they want to replace those jobs. This funding just further solidifies alignment with GNWT.

In early 2026, Fortune completed testing that confirmed the material from the NICO Project could be refined to make high-grade cobalt. These studies were also partially funded by several government entities. These test results confirm the high-quality of the NICO Project’s cobalt and will be integrated into the Feasibility Study that Fortune is preparing (estimated completion is July 2026).

The biggest catalyst this year occurred April 21–22 when Fortune had a review hearing pertaining to their water permit. This two-day review involved numerous government (both territorially and federally) and indigenous groups. The videos are lengthy, but you can re-watch the hearing here (Watch on demand: Fortune Minerals public hearing for Nico mine). The closing statements of this hearing were fascinating because GNWT, Tlicho (the local indigenous people in/around the NICO Project location), and the Federal (Canadian) government all noted the importance of this project for the region and communicated their support. I was personally a little concerned that the local indigenous people would raise concerns, but that was not the case. The Tlicho did not mince their words and clearly understood that the job opportunities were important for their people and the region. I expect that Fortune will be required to provide some additional studies/testing/etc. as part of this review process but did not hear anything that would suggest there are critical issues related to their water permit.

I wish I got around to posting this Sunday night because Fortune is having a big day on big volume! I wonder if this is just people waking up and realizing that the NICO Project is very likely the next critical minerals asset to be developed in Northern Canada, or perhaps there is upcoming news. In either case, Fortune’s market cap at today’s prices is still tiny at around $70 million which is miniscule when compared to the $8 billion+ in proven/probable reserves.

As always, this is not financial advice and do your own research, and when you do I think you’ll come to the same conclusion.

u/Then_Marionberry_259 — 2 months ago