Fortune examines higher production rate in NICO feasibility

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[{"type":"text","content":"\n\n\n\nFortune examines higher production rate in NICO feasibility\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONDON, ON, Nov. 9, 2017\n\n\n\nAccelerating cobalt demand in lithium-ion batteries for electric vehicles is driving decision to examine the feasibility of expanding production by 20 to 30% to produce more cobalt units  \n\nIssued Capital: 302,085,257                                                                                                      \n\n\n\nLONDON, ON, Nov. 9, 2017 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce a change in scope for the updated Feasibility Study in progress for its 100% owned NICO Cobalt-Gold-Bismuth-Copper Project in Canada (\"NICO Project\"). Responding to positive feedback from potential strategic partners, Fortune is examining the feasibility of a 20 to 30% increase in the planned NICO production rate over the 4,650 metric tonnes (\"t\") of ore per day used in the previous 2014 Feasibility Study and produce between 1,700 and 2,000 t of cobalt units per year in a battery grade cobalt sulphate heptahydrate.\n\nLike our news? Click-to-Tweet.\n\nRobin Goad, President and CEO of Fortune commented, \"Transformative electrification of the automotive industry is accelerating as cost parity with internal combustion engines is being reached and as more governments announce future bans on gasoline and diesel-powered vehicles. Forecasts of electric vehicle adoption are...

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