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Future Metals NL

www: future-metals.com.au   email: patrick@future-metals.com.au
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
ASX:FME AUD
LON:FME GBX

Description

Future Metals NL are a gold focused junior, late stage developer with two exploration properties in Australia. They have approximately 3Moz. of gold in the reserves and resources category of which 2Moz. are in the measured and indicated category. They have a market capitalisation of ~A$20.55M which is a fall of roughly 26% over the last one months. As of 01/23/2026 they have no debt and ~A$2.85M cash. They have 909M shares outstanding and trade on

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General Details

Financial 01/23/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $27.67M $20.55M 01/23/2026 $-7.11M
MCap (OS): $23.53M $17.48M 01/23/2026 $-6.05M
Total Assets: $14.87M $15.54M 01/23/2026 $0.68M
Total Liabilities: $2.68M $2.80M 01/23/2026 $0.12M
Current Assets: $1.16M $1.21M 01/23/2026 $0.05M
Current Liabilities: $0.45M $0.47M 01/23/2026 $0.02M
Total Debt: $0.00M $0.00M 01/23/2026 $0.00M
Cash: $2.73M $2.85M 01/23/2026 $0.12M
Debt (Net): $-2.73M $-2.85M $-0.12M
Enterprise Value: $24.94M $17.70M $-7.24M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 01/23/2026 n/a
Misc 01/23/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 908,936,875 908,936,875 01/23/2026 0
Shares (FD): 1,068,628,559 1,068,628,559 01/23/2026 0
Insider Ownership: 18% 18% 01/23/2026 n/a
Dividend (Annual): n/a n/a 01/23/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Developer Developer never n/a
Production ETA: n/a 01/01/2028 01/23/2026 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 01/23/2026
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 01/23/2026
Development Phase: PEA Released PEA Released 01/23/2026 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 10
Developer: Likely Path to Production
 10
Developer: Likely Path to Production
 01/23/2026 0
Cash Flow Multiple: 3 3 01/23/2026 0.00

Resource Data

GOLD
(inc. Base Metals)
 01/23/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/23/2026 0.00M
Measured & Indicated: 2.00M 2.00M 01/23/2026 0.00M
Inferred: 1.00M 1.00M 01/23/2026 0.00M
Reserves & Resources: 3.00M 3.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/23/2026 0.00M
Measured & Indicated: 1.36M 1.36M 01/23/2026 0.00M
Inferred: 0.43M 0.43M 01/23/2026 0.00M
Reserves & Resources: 1.79M 1.79M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/23/2026 $0.00
Extra Operating Cost: n/a n/a 01/23/2026 $0.00
Total: $2,000 $2,000 01/23/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AuEq): n/a n/a n/a
EV / Production (AuEq): n/a n/a n/a
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 01/23/2026 n/a
Open Pit (Avg): n/a 2.00 g/t 01/23/2026 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 01/23/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 2.00M 2.00M 01/23/2026 0.00M
Annual Production: 70,000oz. 70,000oz. 01/23/2026 0oz.
Cash Cost: $1,300 $1,300 01/23/2026 $0
Extra Operating Cost: $700 $700 01/23/2026 $0
SILVER
(inc. Base Metals)
 01/23/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/23/2026 0.00M
Measured & Indicated: n/a n/a 01/23/2026 0.00M
Inferred: n/a n/a 01/23/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/23/2026 0.00M
Measured & Indicated: n/a n/a 01/23/2026 0.00M
Inferred: n/a n/a 01/23/2026 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/23/2026 $0.00
Extra Operating Cost: n/a n/a 01/23/2026 $0.00
Total: n/a n/a 01/23/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): n/a n/a n/a
EV / Production (AgEq): n/a n/a n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 01/23/2026 n/a
Open Pit (Avg): n/a n/a 01/23/2026 n/a
Recovery Rate: n/a n/a 01/23/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 01/23/2026 0.00M
Annual Production: n/a n/a 01/23/2026 n/a
Cash Cost: n/a n/a 01/23/2026 n/a
Extra Operating Cost: n/a n/a 01/23/2026 n/a

Property

Last Analysis Data  (01/23/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp Alice Downs Corridor
100 show
nickel , copper exploration
Exp Panton
100 300.00 26.00 show
4.5M oz PGE
2M oz high grade section at 5.5 gpt.
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Exp Alice Downs Corridor
100 show
nickel , copper exploration
Exp Panton
100 300.00 26.00 show
4.5M oz PGE
2M oz high grade section at 5.5 gpt.

Profitability (by resource)

Proven &
Probable		 01/23/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD MCap / Gold Eq.: n/a n/a n/a $0.00
FD MCap / Silver Eq.: n/a n/a n/a $0.00
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
EV / Gold Eq.: n/a n/a n/a $0.00
EV / Silver Eq.: n/a n/a n/a $0.00
EV / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 01/23/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.00M 2.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 11.43M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.36M 1.36M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 7.77M
Maximum Profit (Gold): $4,004.13M $4,385.52M n/a $381.40M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,004.13M $4,385.52M n/a $381.40M
Max Profit / Current MCap: 144.731 213.374 n/a 68.643
Max Profit Per Share (Gold): $3.75 $4.10 n/a $0.36
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.75 $4.10 n/a $0.36
Total Free Profit Per Share: $3.71 $4.08 n/a $0.37
FD MCap / Gold Eq.: $20.34 $15.11 n/a $-5.23
FD MCap / Silver Eq.: $0.40 $0.27 n/a $-0.13
FD MCap / Per Metal
as % Spot Price:		 0.41% 0.29% n/a -0.12%
EV / Gold Eq.: $18.34 $13.02 n/a $-5.32
EV / Silver Eq.: $0.36 $0.23 n/a $-0.13
EV / Per Metal
as % Spot Price:		 0.37% 0.25% n/a -0.12%

Reserves &
Resources		 01/23/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.00M 3.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 17.14M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.79M 1.79M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 10.20M
Maximum Profit (Gold): $5,255.41M $5,756.00M n/a $500.59M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $5,255.41M $5,756.00M n/a $500.59M
Max Profit / Current MCap: 189.959 280.053 n/a 90.094
Max Profit Per Share (Gold): $4.92 $5.39 n/a $0.47
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.92 $5.39 n/a $0.47
Total Free Profit Per Share: $4.88 $5.36 n/a $0.48
FD MCap / Gold Eq.: $15.50 $11.51 n/a $-3.98
FD MCap / Silver Eq.: $0.30 $0.20 n/a $-0.10
FD MCap / Per Metal
as % Spot Price:		 0.31% 0.22% n/a -0.09%
EV / Gold Eq.: $13.97 $9.92 n/a $-4.05
EV / Silver Eq.: $0.27 $0.17 n/a $-0.10
EV / Per Metal
as % Spot Price:		 0.28% 0.19% n/a -0.09%

Future Valuation (Cash Flow & Totals)

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