Fortune Minerals Limited announced a change in scope for the updated feasibility study in progress for its 100% owned NICO Cobalt-Gold-Bismuth-Copper Project in Canada. Responding to positive feedback from potential strategic partners, company is examining the feasibility of a 20% to 30% increase in the planned NICO production rate over the 4,650 metric tonnes 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. Highlights of items being examined in the updated feasibility study: Accelerating demand for lithium-ion batteries in electric vehicles and stationary storage; Examining a response to market demand with a 20 to 30% increase in the planned production rate and annual cobalt production of between 1,700 and 2,000 t per annum; Mineral Reserves being updated using higher cobalt prices and greater economies of scale from a higher production rate; Mine plan and schedule optimization to increase cobalt and gold production in early years of the mine life; Grade control and stockpiling strategy to better align bismuth output with market conditions as they evolve within a growing green economy; Additional metallurgical test work completed to improve process for manganese removal from cobalt sulphate and indicating a potential cobalt recovery improvement; Improved copper cementation process; Design engineering and cost estimation proceeding for expanded production rate; Project Execution Plan being refined to construct the Northwest Territories facilities using existing winter roads and align mine operations with the timeline for availability of the government road to Whati.