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Fortune Minerals Ltd

www: www.fortuneminerals.com/Home/default.aspx   email: info@fortuneminerals.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
TSE:FT CAD
OTCMKTS:FTMDF USD

Description

Fortune Minerals Ltd are a gold focused junior, late stage developer with one mine in development in Canada. They have approximately 1Moz. of gold in the reserves and resources category of which 1Moz. are in the measured and indicated category. They have a market capitalisation of ~C$22.73M which is a rise of roughly 37% over the last seven months. As of 02/23/2024 they have no debt and ~C$0.37M cash. They have 500M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/23/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $16.64M $22.73M 02/23/2024 $6.08M
Total Assets: $51.92M $51.56M 02/23/2024 $-0.36M
Total Liabilities: $1.48M $1.47M 02/23/2024 $-0.01M
Current Assets: $0.37M $0.37M 02/23/2024 $0.00M
Current Liabilities: $0.37M $0.37M 02/23/2024 $0.00M
Total Debt: $0.00M $0.00M 02/23/2024 $0.00M
Cash: $0.37M $0.37M 02/23/2024 $0.00M
Enterprise Value: $16.27M $22.36M 09/16/1970 $6.08M
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: 02/23/2024 n/a
Misc 02/23/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 499,643,862 499,643,862 02/23/2024 0
Shares (FD): 561,000,000 561,000,000 02/23/2024 0
Insider Ownership: n/a 15% 02/29/2024 15%
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 02/23/2024 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2024 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2024 0
Initial CapEx (Outstanding): $436.00M
2619.51% of MCap		 $436.00M
1918.54% of MCap 		02/23/2024 $0.00M
Funding Option: n/a n/a 02/23/2024 n/a
Documentation: none FS 02/29/2024 n/a
Future MCap Modifier: 0.1
Developer: Likely Path to Production
 0.1
Developer: Likely Path to Production
 04/24/2023 0
Cash Flow Multiplier: 2 2 04/17/2023 0.00

Resource Data

GOLD 02/23/2024
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 02/23/2024 0.00M
Measured & Indicated: 1.00M 1.00M 02/23/2024 0.00M
Inferred: n/a n/a 02/23/2024 0.00M
Reserves & Resources: 1.00M 1.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/23/2024 0.00M
Measured & Indicated: 0.60M 0.60M 02/23/2024 0.00M
Inferred: n/a n/a 02/23/2024 0.00M
Reserves & Resources: 0.60M 0.60M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 02/23/2024 $0.00
Extra Operating Cost: n/a n/a 02/23/2024 $0.00
Total: $600 $600 02/23/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): 1.00 g/t n/a 02/23/2024 n/a
Open Pit (Avg): n/a 1.00 g/t 02/23/2024 1.00 g/t
Recovery Rate: (CG)  75.00% (CG)  75.00% 02/29/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 1.00M 1.00M 02/23/2024 0.00M
Annual Production: 45,000oz. 45,000oz. 02/23/2024 0oz.
Cash Cost: $100 $100 02/23/2024 $0
Extra Operating Cost: $500 $500 02/23/2024 $0
SILVER 02/23/2024
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 02/23/2024 0.00M
Measured & Indicated: n/a n/a 02/23/2024 0.00M
Inferred: n/a n/a 02/23/2024 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 02/23/2024 0.00M
Measured & Indicated: n/a n/a 02/23/2024 0.00M
Inferred: n/a n/a 02/23/2024 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 02/23/2024 $0.00
Extra Operating Cost: n/a n/a 02/23/2024 $0.00
Total: n/a n/a 02/23/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 02/23/2024 n/a
Open Pit (Avg): n/a n/a 02/23/2024 n/a
Recovery Rate: n/a n/a 02/23/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/23/2024 0.00M
Annual Production: n/a n/a 02/23/2024 n/a
Cash Cost: n/a n/a 02/23/2024 n/a
Extra Operating Cost: n/a n/a 02/23/2024 n/a

Property

Last Analysis Data  (02/23/2024)
Stage Name Owned Au Ag Cu Notes
Dev Nico 100% show
It is permitted.

An updated feasibility due in 2023.

$436 million capex. Likely higher after the update.
Total Land Package Size (ha): 5,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev Nico 100% show
It is permitted.

An updated feasibility due in 2023.

$436 million capex. Likely higher after the update.
Total Land Package Size (ha): 5,000  

Profitability (by resource)

Proven &
Probable		 02/23/2024
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%
Measured &
Indicated		 02/23/2024
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.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -2.80M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.60M 0.60M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.68M
Maximum Profit (Gold): $861.00M $1,172.94M n/a $311.94M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $861.00M $1,172.94M n/a $311.94M
Max Profit / Current MCap: 51.729 51.613 n/a -0.116
Max Profit Per Share (Gold): $1.53 $2.09 n/a $0.56
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.53 $2.09 n/a $0.56
Total Free Profit Per Share: $1.49 $2.04 n/a $0.54
FD MCap / Gold Eq.: $27.74 $37.88 n/a $10.14
FD MCap / Silver Eq.: $0.31 $0.44 n/a $0.13
FD MCap / Per Metal
as % Spot Price:		 1.36% 1.48% n/a 0.12%

Reserves &
Resources		 02/23/2024
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.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -2.80M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.60M 0.60M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.68M
Maximum Profit (Gold): $861.00M $1,172.94M n/a $311.94M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $861.00M $1,172.94M n/a $311.94M
Max Profit / Current MCap: 51.729 51.613 n/a -0.116
Max Profit Per Share (Gold): $1.53 $2.09 n/a $0.56
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.53 $2.09 n/a $0.56
Total Free Profit Per Share: $1.49 $2.04 n/a $0.54
FD MCap / Gold Eq.: $27.74 $37.88 n/a $10.14
FD MCap / Silver Eq.: $0.31 $0.44 n/a $0.13
FD MCap / Per Metal
as % Spot Price:		 1.36% 1.48% n/a 0.12%

Future Valuation (Cash Flow & Totals)

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