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Well, at least some news. I dont know about good though. http://ih.advfn.com/p.php?pid=nmona&article=70318130
What bothers me about this one is the fact that they added a lot of management with no obvious pans. Nothing but cash burn is obvious here. They have a project that is already permitted with a good feasibility study. No communication of any plans or actions.
Their website does not show anything since 2014.
Still, the share price remains stable.
g.p.
I see there is still no contact with shareholders. I also can not get replies to my e-mails.
I have sent info about the property to a potential acquirer. If these idiots are not going to do anything, maybe they will sell it. Looks like all they are interested in is drawing a pay check.
Last press release 11/2014 adding more people to the payroll. For what reason? Looks like these folks are doing nothing but drawing pay checks.. They dont seem concerned about reserving capital while waiting for PM prices to increase. I guess they figure on just selling some more cheap shares.
These folks are a joke. Adding to the payroll with nothing going on, does not make a lot of sense. Not only do they not release any information, but investors can not even reach anybody of consequence via telephone. I wish they would just sell the property, but they wont do that because it would put them out of work. Looks like they want to just live off of investors until the $ are gone.
It will soon be a year without so much as an acknoledgement of shareholders. These folks have really become questionable since the sale of BRD.
Still no news posted???? Nothing I can find anywhere. Wonder if they are still paying all those big salaries>
The last time the company communicated with shareholders. November 6, 2014
Fortune Bay Corp. Announces Management Appointments
Maybe more than you think. After all, FOR still trades ober .30.
g.p.
WoW, still no news or even so much as an acknowledgement of shareholders since they added payroll on 11/06/2014. Nearly a yer of paying out extra salaries for zero results. That sounds promising.
My question is , why bring more people on board and increase base costs, when there is obviously nothing going on and will not be for some time? I have no doubt about their assets.
Your post 44.
FOR could be in a hold position until better prices.
Currently, I do not have shares but did buy and sell
a couple of times, recently.
GLTY
g.p.
When I last called I was told to call and speak to the CFO and she would fill me in on what was going on. When I call the CFOs extension I get a recording. I tried all the extensions and did not get a person only recordings. I certainly hope these folks are not getting paid because none of them seem to be showing up for work.
I am not understanding why these folks added management a few months ago if they are not going to make any movement. If they want to wait for gold to move up, why increase overhead? I have emailed this question, but have had no reply again.
They do have a good asset though when the price of gold increases.
Would be nice to at least get a hello from the management. Why in the world did they bother to appoint additions.
LOL, the way gold is being manipulated and played like a yoyo right now, it probably is best to wait and do nothing with this property right now. Once our corrupt regime is replaced in 2016, maybe it will be time to move on development.
At least it looks to be making a good move today. Maybe news is coming.
No response to e-mails or phone calls. A lot different than it was as Brigus. I used to be able to communicate with them. I guess there is not a whole lot to communicate, but a hello to the shareholders every few months would be nice.
'a couple of days' have gone by and more.
Guess the phone call did not get you anywhere...
Still holding around .30 CDN. OK, considering...
g.p.
(at any rate, nothing until Tue.)
I sent Fortune Bay an e-mail to see if they would reply. If not, I will call in a couple of days.
Just checking in. I have found no news on Fortune Bay yet. I am sure they are biding their time until gold prices increase. No reason to rush, the gold will still be there.
I dont look for any news from Fortune Bay Corp now until gold prices go up significantly. Nobody in their right mind would start up a mining operation in this environment. The gold will still be there when they get ready.
Fortune Bay Corp. Announces Management Appointments
http://ih.advfn.com/p.php?pid=nmona&article=64316875
I will give Wade Dawe a call on Monday to see what if I can find out anything and put a little bug in his ear about keeping shareholders up to date.
Agreed Some news would go long way. The Aug 12 SEDAR filed MD&A gave some idea of what might be going on after June 30 2014 but it was sketchy and to my read rather maybe / maybe not
I understand if there is a desire to wait out the POG manipulation before developing this project, but it would be nice to0 at least hear that from the company. They treated their shareholders much better as BRD.
Thanks Yes that is a fine property The property in Mexico is nothing to ignore either, but the CA property deserves first attention
Good to see FOR catching some volume
Hello Gharma, nice to see you here. I agree, way too silent and they lost a good man in Jon Legatto. One news knows when news will come suddenly though. That is a good piece of property they have in Saskatchewan.
mgmt has been way too silent to cause much change
Considering the past little while, today's gain
is great. Just a start?
g.p.
Fortune Bay Corp. announces resignation of Jon Legatto, CFO
http://ih.advfn.com/p.php?pid=nmona&article=62502521
05/27/2014 Fortune Bay Corp. announces strategic review process
http://ih.advfn.com/p.php?pid=nmona&article=62343183
Let the paint dry... eom
I feel like Rip V. Winkle. I just found out that we were finally trading. I already held 1,000 shares from the Brigus spinoff and hope to add to my core position. Fortunately or unfortunately, I am holding 72K Primero warrants and feel that with a little luck those have a fair chance of becoming exercisable before the cut off date. (Although the PR person at Primero had her doubts). If so. some of that money will find its way into Fortune Bay.
This may shed a little more light on the financing "Fortune Bay’s chief executive officer, Wade Dawe, acquired 1,428,572 units at the 28 cent price"
http://thechronicleherald.ca/business/1197621-halifax-miner-wraps-up-financing
Thx for your nuumbers
The tagging for the flow-through makes clear Goldfields will be advanced soon
Share Structure
According to my Calculations (feel free to correct me)
25,959,600 Approximate beginning OS
1,559,747 Approximate beginning Options
1,725,000 New Shares
862,500 New Warrants
When the warrants are exercised this cash raise will total 690,000.00 @ .27 (average) in a non brokered placement
27,684,600 Approximate OS after New Shares
2,422,247 Approximate Options and Warrants
30,106,847 Approximate Fully diluted
Fortune Bay Corp. to complete flow-through financing
http://finance.yahoo.com/news/fortune-bay-corp-complete-flow-210300957.html
Gotcha. I am in the process of shaking some $ free to add to my position. There will be dilution, there has to be, but I have confidence that management will keep it to the minimum. They already have a viable project, that will become more viable as gold prices increase. JMHO
no, sedar.com does not let one link to the docs
When you bring up the list of FOR filings I think it is the second of the two "shaewholder doc"s that has the court ordered plan of arrangement as appendix A
But now rereading the parts in this (at 2.3 d and e) I believe I misread. The $10m loan is made to Brigus, which then used this to subscribe for the shares of FOR, with the debt apparently remaining with Brigus
PS Too bad I had not revisited this earlier as I was itching to buy a chunk of FOR today post-NY-noonish when someone sold off 100s of k shares at 0.225, but was thinking roughly 22.5m shares at that was valuing FOR assets fair to high instead of at below half cash on hand.
Whatever, walk cautiously as there will be dilution ahead, hopefully after that $10m has brought news and price appreciation, likely on Saskatchewan property or a new one
Could you provide me a link to the before mentioned document pertaining to the demand loan? I was not aware of any loan, only that PPP was taking an interest in Fortune Bay.
I was looking over the docs posted to sedar.com 3/14 and from one of the shareholder info docs it looks to me like the present value of FOR is only the properties and royalty as the $10m cash seems to be from a 0 interest demand note loan from PPP.
Going back to the NRs they just say the company will have $10m, not saying how obtained.
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Dawe, Wade K.
Halifax, Nova Scotia, Canada
Chairman & CEO
Chairman & CEO for Brigus since January 2013.Chairman, President & CEO for Brigus from June 2010 to January 2013.
Chairman, CEO & President of predecessor company Linear Gold Corp.from October 2003 to June 2010.Chairman, Stockport Exploration Inc. from May 2006 to present.
Legatto, Jon
Dartmouth, Nova Scotia, Canada
Chief Financial Officer
CFO for Brigus since September 2012.Vice President Finance for Brigus from April 2011to September 2012.
Senior Manager Compliance and Performance Improvement for Homburg Canada REIT from November 2010 to April 2011.Senior Manager for Ernst & Young LLP from September 2006 to November 2010.
Gill, Derrick (1) (2)
Executive VP & Principal Consultant of Strategic Concepts Inc. since 1990.
Executive VP & Director of Vale Inco Newfoundland Limited from 1995 to December 2009.Director of predecessor company Linear Gold Corp. since 2004.
Gross, Michael (1) (2)
Professor of Surgery at Dalhousie University since 1987.Independent consultant since 1987.
Founder & Chairman of the board of NWest Energy prior to 2008 andCEO of LNB Oil.Director of predecessor company Linear Gold Corp. since 2002
Peat, David W.(1)(2)
Financial Consultant since March 2009.Vice President and CFO of Frontera Copper Corp. from June 2006 to February 2009.Director of predecessor company Apollo Gold since 2006
About Us
Fortune Bay Corp. is a Canadian based mineral exploration company with strong financing and two current projects; the Goldfields project innorthern Saskatchewan and the Ixhuatan project located in the northern Chiapas State, Mexico. Both properties hold approximately 1 million inferred ounces of gold. Fortune Bay intents to advance existing properties as well as potentially acquire additional mineral exploration project so as to ensure maximum value for shareholders. Fortune Bay Corp. is a spin off company as a result of a transaction between Primero Gold and Brigus Gold where in Primero acquired certain assets of Brigus Gold in an all share transaction. At the close of the transaction, Brigus Gold shareholders were issued 1 Fortune Bay Corp share for every 10 Brigus Gold shares
Fortune Bay is the Spinco from the Primero acquisition of BRD and holds the remaining assets including : The Goldfields Project is already permitted.SpinCo Exploration Properties , (ii) the office leases (and any subleases) of Brigus and/or its Subsidiaries relating to Brigus’ existing offices located at 1969 Upper Water Street, Suite 2001, Purdy’s Wharf, Tower II, Halifax, Nova Scotia, Canada, (iii) office furniture, office equipment or office supplies located at the office locations referred to in clause (ii) above, (iv) all fixed assets of Brigus and/or its Subsidiaries relating exclusively to the SpinCo Exploration Properties or located within the boundaries of the SpinCo Exploration Properties or at the office locations referred to above in paragraph (ii) above, (v) all of the shares of Brigus Gold ULC and Brigus Gold, Inc., which together hold the SpinCo Exploration Properties, and the related Subsidiaries of Brigus Gold ULC, (vi) all joint venture, earn-in, other Contracts entered into by Brigus and/or its Subsidiaries, and royalties or other similar rights that relate exclusively to the SpinCo Exploration Properties; (vii) the following marketable securities: common shares of Cangold Limited and Everton Resources Inc., and (vii) all exploration information, data reports and studies including all geological, geophysical and geochemical information and data (including all drill, sample and assay results and all maps) and all technical reports, feasibility studies and other similar reports and studies concerning the SpinCo Exploration Properties in Brigus’ possession or control relating to the SpinCo Exploration Properties;
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