I believe TECK is the most likely Canadian suitor of Fortune .Either a complete buy out or buying the companies 80% of Arctos. Teck has another met.coal project where they own 80% and the remaining 20% interest is owned buy none other than POSCO. Arctos is too valuable a B.C. resource for TECK to have no interest in.
Why would TECK want NICO ? Teck is one of the best run mining outfits in the World. The world needs a steady and safe jurisdiction to buy cobalt and Canada certainly is at the top of the list. If you realize just how many diverse products TECK deals with ,either from mining or smelting,you will see that something like Bismuth would be welcome ,especially since it comes out of the same shovel as gold and cobalt. Teck is likely interested in a refiner.It suits them ,that principally a refiner should be part of their assets.
Fortune has just 128 M shares fully diluted. In the last year Teck has averaged about 40/share. If they offered Fortune between 2/share and 4/share in TCK stock ,FT holders would do quite well. I would not want a deal like this as a cash buy out but a share agreement would work well.The amazing assets of Fortune would be in the hands of a company which will continue to grow and reward it's shareholders.