9 February 2021
Fortune Minerals Limited is pleased to announce that it has received indicative terms from a large waste disposal and environmental services company to dispose of the process residue from the planned refinery for the NICO Cobalt-Gold-Bismuth-Copper Project (“NICO Project”). This waste disposal company operates a number of facilities in western Canada and provided its quote after reviewing the chemistry and environmental characteristics of the process residue produced in Fortune’s earlier pilot plant. The ability to dispose of the residue in an existing permitted facility provides Fortune with flexible options to finalize the preferred site for its planed refinery and reduces the amount of land that would need to be acquired as well as the capital costs for the refinery. This contracted disposal solution would also reduce permitting times, technical risks during operations, and eliminates long-term legacy issues associated with a Company-owned facility.