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Fortune Bay Corp

www: www.fortunebaycorp.com   email: info@fortunebaycorp.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
CVE:FOR CAD
OTCMKTS:FTBYF USD

Description

Fortune Bay Corp are a gold focused junior, late stage developer with two mines in development in Canada and Mexico. They have approximately 2.5Moz. of gold in the reserves and resources category of which 1.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$43.86M which is a rise of roughly 9% over the last three months. As of 12/30/2025 they have no debt and ~C$5.84M cash. They have 68M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 12/30/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $40.39M $43.86M 12/30/2025
MCap (OS): $34.80M $37.80M 12/30/2025
Total Assets: $18.99M $19.00M 12/30/2025
Total Liabilities: $1.46M $1.46M 12/30/2025
Current Assets: $5.84M $5.84M 12/30/2025
Current Liabilities: $0.37M $0.37M 12/30/2025
Total Debt: $0.00M $0.00M 12/30/2025
Cash: $5.84M $5.84M 12/30/2025
Debt (Net): $-5.84M $-5.84M
Enterprise Value: $34.54M $38.02M
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: Yes Yes 12/30/2025
Misc 12/30/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 68,076,685 68,076,685 12/30/2025
Shares (FD): 79,000,000 79,000,000 12/30/2025
Insider Ownership: 20% 20% 12/30/2025
Dividend (Annual): n/a n/a 12/30/2025
Company Type: Mostly Gold Mostly Gold never
Group: Developer Developer never
Production ETA: n/a 01/01/2028 12/30/2025
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 12/30/2025
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 12/30/2025
Development Phase: PFS Underway PFS Underway 12/30/2025
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 10
Developer: Likely Path to Production
 10
Developer: Likely Path to Production
 12/30/2025
Cash Flow Multiple: 3.5 3.5 12/30/2025

Resource Data

GOLD 12/30/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 1.00M 1.00M 12/30/2025
Measured & Indicated: 1.50M 1.50M 12/30/2025
Inferred: 1.00M 1.00M 12/30/2025
Reserves & Resources: 2.50M 2.50M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.85M 0.85M 12/30/2025
Measured & Indicated: 1.19M 1.19M 12/30/2025
Inferred: 0.43M 0.43M 12/30/2025
Reserves & Resources: 1.62M 1.62M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/30/2025
Extra Operating Cost: n/a n/a 12/30/2025
Total: $2,250 $2,250 12/30/2025
Margin (Free Cash Flow): n/a
MCap / Production (AuEq): n/a n/a
EV / Production (AuEq): n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 12/30/2025
Open Pit (Avg): n/a 1.30 g/t 12/30/2025
Recovery Rate: (CG)  85.00% (CG)  85.00% 12/30/2025
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.50M 12/30/2025
Annual Production: 75,000oz. 75,000oz. 12/30/2025
Cash Cost: $1,450 $1,450 12/30/2025
Extra Operating Cost: $800 $800 12/30/2025
SILVER 12/30/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 12/30/2025
Measured & Indicated: n/a n/a 12/30/2025
Inferred: n/a n/a 12/30/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 12/30/2025
Measured & Indicated: n/a n/a 12/30/2025
Inferred: n/a n/a 12/30/2025
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 12/30/2025
Extra Operating Cost: n/a n/a 12/30/2025
Total: n/a n/a 12/30/2025
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): n/a n/a
EV / Production (AgEq): n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 12/30/2025
Open Pit (Avg): n/a n/a 12/30/2025
Recovery Rate: n/a n/a 12/30/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 12/30/2025
Annual Production: n/a n/a 12/30/2025
Cash Cost: n/a n/a 12/30/2025
Extra Operating Cost: n/a n/a 12/30/2025

Property

Last Analysis Data  (12/30/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Goldfields
100 900.00 50.00 200.00 show
1.2 million oz at 1.2 gpt
$185 million capex

Size: 10,000 ha
Dev Poma Rosa
100 show
1.7 million oz at 1.4 gpt

This needs confirmation.

Size: 4,000 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Goldfields
100 900.00 50.00 200.00 show
1.2 million oz at 1.2 gpt
$185 million capex

Size: 10,000 ha
Dev Poma Rosa
100 show
1.7 million oz at 1.4 gpt

This needs confirmation.

Size: 4,000 ha

Profitability (by resource)

Proven &
Probable		 12/30/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.00M 1.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.85M 0.85M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,769.74M $2,350.16M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,769.74M $2,350.16M n/a
Max Profit / Current MCap: 43.820 53.578 n/a
Max Profit Per Share (Gold): $22.40 $29.75 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $22.40 $29.75 n/a
Total Free Profit Per Share: $21.70 $28.99 n/a
FD MCap / Gold Eq.: $47.51 $51.60 n/a
FD MCap / Silver Eq.: $0.83 $0.83 n/a
FD MCap / Per Metal
as % Spot Price:		 1.10% 1.03% n/a
EV / Gold Eq.: $40.64 $44.73 n/a
EV / Silver Eq.: $0.71 $0.72 n/a
EV / Per Metal
as % Spot Price:		 0.94% 0.89% n/a
Measured &
Indicated		 12/30/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.50M 1.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.19M 1.19M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,477.64M $3,290.22M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,477.64M $3,290.22M n/a
Max Profit / Current MCap: 61.347 75.009 n/a
Max Profit Per Share (Gold): $31.36 $41.65 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $31.36 $41.65 n/a
Total Free Profit Per Share: $30.66 $40.89 n/a
FD MCap / Gold Eq.: $33.94 $36.86 n/a
FD MCap / Silver Eq.: $0.59 $0.59 n/a
FD MCap / Per Metal
as % Spot Price:		 0.78% 0.74% n/a
EV / Gold Eq.: $29.03 $31.95 n/a
EV / Silver Eq.: $0.51 $0.51 n/a
EV / Per Metal
as % Spot Price:		 0.67% 0.64% n/a

Reserves &
Resources		 12/30/2025
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.50M 2.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.62M 1.62M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,362.51M $4,465.30M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,362.51M $4,465.30M n/a
Max Profit / Current MCap: 83.257 101.799 n/a
Max Profit Per Share (Gold): $42.56 $56.52 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $42.56 $56.52 n/a
Total Free Profit Per Share: $41.86 $55.76 n/a
FD MCap / Gold Eq.: $25.01 $27.16 n/a
FD MCap / Silver Eq.: $0.44 $0.44 n/a
FD MCap / Per Metal
as % Spot Price:		 0.58% 0.54% n/a
EV / Gold Eq.: $21.39 $23.54 n/a
EV / Silver Eq.: $0.37 $0.38 n/a
EV / Per Metal
as % Spot Price:		 0.49% 0.47% n/a

Future Valuation (Cash Flow & Totals)

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