6 Nov 2019 The first evidence of silver mining dates back to 3000 BC in Turkey and Greece. The metal's association with money and wealth dates back to ancient times, with Silver is rarely found as a native element mineral and is typically will provide potential for early revenue from small-scale gold production.

Revenue Silver purchased a 100% interest in the mine in 2014 and is continuing with commissioning and the ramp up to a 400 ton per day production rate. About Fortune Minerals: Fortune is a diversified North American mining and development company that owns and operates the Revenue Silver Mine in Colorado. In July 2014, Fortune Minerals purchased the 140-year-old Revenue Silver mine in Colorado in an attempt to generate cash while its NICO and Arctos projects languish and to gain the status of mine operator instead of simply being a junior exploration company.The purchase was financed in part by Procon, the subsidiary of the Chinese state-owned CAMC Engineering which owns 19.4% of Fortune Minerals. Fortune, through its wholly-owned subsidiary, Fortune Revenue Silver Mines Inc. ("Fortune Revenue") entered into an agreement to acquire the Revenue Silver Mine and related assets from Silver Star The study showed that the mine could extract approximately 92,000 tons of ore a year, averaging 2.25 million ounces of silver plus gold, lead and zinc per year. The sale of those minerals is calculated to earn $26.5 million a year, paying back the investors within two years and making a profit for an additional five years. The Company, through its wholly-owned subsidiary, Fortune Revenue Silver Mines Inc. ("Fortune Revenue") has already completed the purchase of a 12% participating interest in the mine and can acquire a 100% interest by paying the other owners an additional US$ 14 million and issuing a promissory note to pay US$ 34.5 to US$ 36.8 million in deferred quarterly installments.

TORONTO (miningweekly.com) – Canadian project developer Fortune Minerals on Friday announced that it would buy the Revenue silver mine, in south-western Colorado, from private arm's-length vendors

20 Jul 2015 A tough month for Fortune Minerals culminated last week with the news that the company has lost its Colorado-based Revenue silver mine. 1 Aug 2018 Its property with the Revenue-Virginius Mine last produced minerals in 2015, when operated by Fortune Minerals. Lascaux foreclosed on  4 Mar 2020 The Revenue-Virginius Mine last produced minerals in 2015, when operated by Fortune Minerals. Fortune's investors, New York-based  One of the most important of these next new mines was the Virginius. and John H. Maugham purchased what became known as the Revenue Mine. In 2014, Fortune Minerals, with financing from Lascaux Resource Capital (“LRC”)  5 Feb 2019 Fortune Minerals announced Wednesday that it had completed the purchase of the Revenue Silver mine in southwest Colorado from Silver 

3 Nov 2015 THE GOLD STAR TerraX Minerals: Yellowknife Gold Belt Property “Now Fortune Minerals, developing its gold-bismuth-cobalt-copper project near Whatì, NWT, picked up the Revenue Silver Mine in Colorado on the cheap 

The Company, through its wholly-owned subsidiary, Fortune Revenue Silver Mines Inc. ("Fortune Revenue") has already completed the purchase of a 12% participating interest in the mine and can acquire a 100% interest by paying the other owners an additional US$ 14 million and issuing a promissory note to pay US$ 34.5 to US$ 36.8 million in deferred quarterly installments. Separately from the death investigation, the MSHA in September put the Revenue Mine on notice for a pattern of violations of mandatory health or safety standards under Silver Star ownership. According to MSHA, the company had 92 “significant and substantial ” violations between Aug, 1, 2013, On October 10, 2014 Fortune Minerals announced it had completed its purchase of the Revenue Silver Mine. Then, CEO Robin Goad said “ Our ability to arrange financing and close this purchase of the Revenue Silver Mine in a challenging capital market is a testament to our team. …” Fortune operates the Revenue Silver Mine in Colorado and is developing the vertically integrated NICO gold-cobalt-bismuth-copper project that is comprised of a proposed mine and mill in the Northwest Territories ("NT") that will produce a bulk concentrate for shipment to a refinery in Saskatchewan for processing to high value metal and chemical products. Mar 03,2020 Fortune Minerals Provides NICO Project Update. Information presented in this website was accurate at the time of posting; however, some information may be superseded by subsequent disclosures. The reader is cautioned to review all postings to ensure they are aware of any updated information. Fortune Minerals Limited is a North American development stage mining company and past producer. Fortune is currently focused on advancing the vertically integrated NICO cobalt-gold-bismuth-copper project, comprised of a proposed mine and mill in the Northwest Territories that will produce a bulk concentrate for shipment to a refinery that the Company plans to construct in Saskatchewan. The Fortune Minerals announced Wednesday that it had completed the purchase of the Revenue Silver mine in southwest Colorado from Silver Star Resources, Star Mine Operations and Revenue-Virginius Mines. The company said it has received $25 million from a US$35 million production pre-pay facility from Lascaux Resource Capital Fund 1 with a second tranche of US$10 million expected to close on October 16, 2014.

4 Mar 2020 The Revenue-Virginius Mine last produced minerals in 2015, when operated by Fortune Minerals. Fortune's investors, New York-based 

20 Apr 2015 “It is an exciting time for us with the acquisition of the Revenue Silver Mine transitioning us to a producing mining company that is developing  9 May 2015 BC paid $18 million to Fortune Minerals and its partner, POSCO, the of its debts and to run its disastrous Revenue Silver Mine in Colorado,  3 Nov 2015 THE GOLD STAR TerraX Minerals: Yellowknife Gold Belt Property “Now Fortune Minerals, developing its gold-bismuth-cobalt-copper project near Whatì, NWT, picked up the Revenue Silver Mine in Colorado on the cheap 

Revenue Silver purchased a 100% interest in the mine in 2014 and is continuing with commissioning and the ramp up to a 400 ton per day production rate. About Fortune Minerals: Fortune is a diversified North American mining and development company that owns and operates the Revenue Silver Mine in Colorado.

1 Oct 2014 Fortune Minerals Completes the Purchase of the Revenue Silver Mine in Colorado on Amended Terms and Closes US$ 25 Million Tranche of  The fate of the Revenue silver mine near Ouray remains unclear this week, following last Friday's announcement that the mine's Canadian owner, Fortune  20 Jul 2015 A tough month for Fortune Minerals culminated last week with the news that the company has lost its Colorado-based Revenue silver mine.

3 Nov 2015 THE GOLD STAR TerraX Minerals: Yellowknife Gold Belt Property “Now Fortune Minerals, developing its gold-bismuth-cobalt-copper project near Whatì, NWT, picked up the Revenue Silver Mine in Colorado on the cheap