# Fortune Minerals Completes Cobalt Sulphate Test Work Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296 Original source: https://money.tmx.com/en/quote/FTMDF/news/7987781224274140/fortune-minerals-completes-cobalt-sulphate-test-work Publisher: tmx Original announcement: 2026-01-21T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Fortune Minerals Limited - Ticker: FTMDF - Exchange: TSX - Region: Northwest Territories - Primary commodity: Cobalt - Secondary commodities: Copper, Gold, Bismuth - Document categories: Metallurgy - Extracted: 2026-08-25 10:39:41 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Fortune Minerals has successfully validated an optimized hydrometallurgical flowsheet for the NICO Project, producing battery-grade cobalt sulphate heptahydrate. The new process demonstrates improved recoveries for cobalt \(97% vs 95%\), copper \(74% vs 70%\), and gold \(97-98% vs 95%\) compared to 2008 pilot plant results. Reasoning: Successful validation of an optimized hydrometallurgical flowsheet showing improved cobalt, copper, and gold recoveries compared to historical pilot plant results. - Positive factor: improved metal recoveries vs 2008 pilot plant - Positive factor: successful production of battery grade cobalt sulphate - Positive factor: simplified flowsheet potential for lower CAPEX/OPEX - Positive factor: effective arsenic removal capability Facts used in scoring: 5 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The test work involves hydrometallurgical flowsheet including autoclave processing and solution purification. Evidence · text > optimized hydrometallurgical flowsheet **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release mentions work carried out at SGS Canada Inc. and refers to specific product specifications met. Evidence · text > The work was carried out at SGS Canada Inc. \(“ SGS ”\) at its world class Lakefield, Ontario metallurgical facilities. ## Extracted facts Stored fact records: 5. Some facts used in scoring do not have a stored record. ## Metallurgical Results (5) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296#fact-metallurgical-facts-0) cobalt #### Identity - Commodity: cobalt - Ticker: FTMDF #### Test Work - Sample: design feed grade concentrate #### Recovery - Recovery: 97 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-01-21T00:00:00.000Z Reasoning: 97% recovery is an improvement over the 95% reported in the 2008 pilot plant. - Positive factor: improvement over 2008 pilot plant Evidence · text > achieved extractions of 97% for cobalt ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296#fact-metallurgical-facts-1) copper #### Identity - Commodity: copper - Ticker: FTMDF #### Test Work - Sample: design feed grade concentrate #### Recovery - Recovery: 74 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-01-21T00:00:00.000Z Reasoning: 74% recovery is an improvement over the 70% reported in the 2008 pilot plant. - Positive factor: improvement over 2008 pilot plant Evidence · text > and 74% for copper at the design feed grade ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296#fact-metallurgical-facts-2) cobalt #### Identity - Commodity: cobalt - Ticker: FTMDF #### Test Work - Sample: off-specification low-grade cobalt feed #### Recovery - Recovery: 95 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-01-21T00:00:00.000Z Reasoning: 95% recovery on low-grade feed matches historical pilot plant performance. - Positive factor: confirms earlier pilot plant metal recoveries Evidence · text > Extractions using an off-specification low-grade cobalt feed were 95% for cobalt ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296#fact-metallurgical-facts-3) copper #### Identity - Commodity: copper - Ticker: FTMDF #### Test Work - Sample: off-specification low-grade cobalt feed #### Recovery - Recovery: 79 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-01-21T00:00:00.000Z Reasoning: 79% recovery on low-grade feed is an improvement over the 70% reported in the 2008 pilot plant. - Positive factor: improvement over 2008 pilot plant Evidence · text > and 79% for copper, confirming the earlier pilot plant metal recoveries ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/fortune-minerals-completes-cobalt-sulphate-test-work--d66fce2c-7608-47bc-a846-84b7987bc296#fact-metallurgical-facts-4) gold #### Identity - Commodity: gold - Ticker: FTMDF #### Test Work - Sample: blended cobalt concentrate and bismuth leach residues #### Recovery - Recovery: 97.5 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-01-21T00:00:00.000Z Reasoning: Gold recoveries between 97% and 98% represent an improvement over the 95% in the 2008 pilot plant. - Positive factor: improvement over 2008 pilot plant Evidence · text > Gold recoveries in the recent tests were between 97% and 98% ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.