The Alberta Refinery will produce cobalt sulphate, bismuth ingots and copper cement. The deposit also contains more than 1 million oz of gold. Fortune is also collaborating with Rio Tinto on examining the feasibility of processing its smelter wastes in Utah at the Alberta Refinery to increase cobalt and bismuth production.

Pursuant to the new option agreement, Fortune can acquire the Lamont County site from JFSL for C$6 million ($4.4 million) prior to the end of November 2025, provided it makes monthly option payments of C$100,000 ($74,000). The monthly option payments and the C$1,437,500 previously paid by Fortune to JFSL, are deductible from the purchase price. JFSL will be entitled to list the Lamont County property for sale during the option period, subject to Fortune’s 90-day right of first refusal to match any third-party offer. JFSL will also be entitled to continue using the Lamont County property and facilities for 18 months following a sale to Fortune.

JFSL is a subsidiary of the Worley Group and Worley will be the preferred contractor for environmental, engineering, procurement, fabrication and construction work for the Alberta Refinery.