Fortune Minerals announced that, in accordance with the Wek’èezhìi Land and Water Board’s recommendation, the Northwest Territories Ministry of Environment and Natural Resources has given final approval for the Type A Water License required to construct and operate the NICO gold-cobalt-bismuth-copper mine and concentrator. Along with the earlier issued Land Use Permit, this constitutes the final step in the permitting process, and the company can now commence construction of the mine upon receipt of project financing and after making the initial closure bond payments. Fortune continues to work with Deloitte Corporate Finance Canada Inc. to secure project financing, and negotiations are advancing with a strategic partner and its banks.
