Nu Fortune was incorporated in February 2016. The company has a portfolio of mining tenements located in the Mulwarrie and Leonora regions in Western Australia. Both areas being historic gold producing areas in the Eastern Goldfields of Western Australia. Nu Fortune recently purchased of a majority interest in United Mines Pty Ltd including tenements in the Leonora region, processing plant and other equipment. It has plans to reinvest profits into CAPEX to substantially increase production. The United Mines project includes tenements with excellent grades.
Since incorporation Nu Fortune has conducted a drilling exploration program that revealed approximately 26,000 oz gold in the Mulwarrie region. It has acquired and refurbished a gravity circuit plant, designed and commissioned the CSIRO R&D plant – including vats and laboratory to establish proof of concept for the world leading CSIRO technology.
Nu Fortune will continue to host a world class R&D facility for its associated Companies – Eco Minerals Research Ltd (Eco) and Clean Mining Ltd (CML). The research involves developing a non-toxic alternative (Thiosulphate reagent) to cyanide in the gold mining industry. Ongoing relationship with CSIRO to further improve the efficiencies of the reagent and to test the technology on different ore type. The company vision is to operate an increasing number of profitable mobile gold mining operations in strategic locations throughout Australia and to leverage off associated companies to produce income and capital growth for shareholders.