09:36 AM EST, 03/03/2020 (MT Newswires) -- Fortune Minerals edged up from a 52-week low as the company said it is readying a new mining plan for its NICO cobalt, gold, bismuth and copper project in the Northwest Territories as it awaits completion of an all-weather road to the project.

The company said it the new mine plan will let it maximize production of high-grade ores through open pit and underground operations on the property.

"The overall objective of this work is to produce a model with higher grades and gold content and reduced waste rock stripping during early years of the mine life," the company said in a release.

Fortune said construction of an all-weather road near the project site is advancing quickly, with 71 of a planned 97 kilometers of road completed, The road will let the company truck its ores to a railhead.

Fortune shares were last seen up C$0.005 to C$0.065 on the TSX Venture Exchange.

Price: 0.0600, Change: -0.0050, Percent Change: -7.69