FORTUNE MINERALS, speculation doesn't get any better than this.

Fortune Minerals  has about 20 million in cash ,about 120 million shares outstanding (fully diluted) and 2 world class mineral deposits with   final  feasibility studies  complete.  They have a professional consulting firm ," Deloitte ", to oversea the identification of  partners for their 100% owned NICO  Cobalt -Bismuth -Gold project and their 80% owned ARCTOS Anthracite Met. Coal project.

Arctos already has a commitment of 20% of costs  and ownership  from one of the World's premier steel making companies ,POSCO of S.Korea.   Fortune will likely sell  another 30% and will be the operator.  The Capex is about 780 million but  roughly 330 million is part of a rail extension where the province of B.C or CN Rail could  consider funding or ownership of a depot that would haul  the met. coal to the B.C. coast for oversea delivery to the East.    A new partner might come with an Eastern Central Bank loan for this extremely important coal asset.   Anthracite is the most sought after coal asset in the World. (read more on the Fortune website)    The low cost open pit mine  has a minimum of 25 years with only a small portion of the resource catergorized as reserves so far. ;cost per ton is about 127 .00 ,lower than anyone in this class of coal.

The NICO asset is the home of 2 of the World's largest undeveloped reserves of COBALT and BISMUTH.,with an added 1.1 million oz's of GOLD and a small by product of copper. Cobalt will continue to be an asset needed in the high tech industry and Bismuth just keeps finding new applications to replace more harmful -toxic metals such as lead. (we actually consume this stuff) Pepto -Bismo

Both projects are awaiting permitting and financing which means it is the last chance to invest at these incredibly low prices.   The condition of the World's  economy has certainly cast a  temporary shadow on the two projects  but if you believe like I do that mineral projects in Canada that are focused on selling to China,Korea and other eastern manufacturering and development based economies ,then this stock is a must in your portfolio. There is  a somewhat mild  opposition from natives but if you read up on these projects ,you should find an overwhelming evidence that points to these projects going forward with production in 2015 or 2016. This is really bottom fishing with better upside than anything else out there mainly in my opinion due to the diversity of the assets  and good condition of the company.

disclosure ; I have recently purchased Fortune Minerals after studying them for 2 years.

FT on the TSX  and FTMDF on the QX