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UPDATE: Fortune Minerals Jumps 13% From Near Yr Lows As Provides Arctos Project Environmental Assessment Update

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Fortune Minerals Limited (FT.TO) and POSCO Canada Ltd. announced that their Arctos Anthracite Joint Venture has submitted a revised Project Description for the Arctos Anthracite Project to the British Columbia Environmental Assessment Office and the Canadian Environmental Assessment Agency. Fortune has jumped 13% from near a year low 36 cents.

It said this revised Project Description is based on the current development plan that includes extending the Dease Lake railway line in northwest British Columbia, 150 km to the proposed mine along the existing railway roadbed. The mine plan has also been amended to reflect a three million tonne per annum production rate and to include modifications to reduce environmental impacts. The CEAA has accepted the Project Description and is seeking public comment on the environmental assessment process.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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