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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 development company 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$12.62M which is a fall of roughly 53% over the last nine months. As of 02/23/2023 they have no debt and ~C$0.74M cash. They have 459M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/23/2023
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $27.02M $12.62M 02/23/2023
Total Assets: $51.68M $51.72M 02/23/2023
Total Liabilities: $1.48M $1.48M 02/23/2023
Current Assets: $0.74M $0.74M 02/23/2023
Current Liabilities: $0.37M $0.37M 02/23/2023
Total Debt: $0.00M $0.00M 02/23/2023
Cash: $0.74M $0.74M 02/23/2023
Enterprise Value: $26.28M $11.88M 05/18/1970
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: 02/23/2023
Misc 02/23/2023
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 459,000,000 459,000,000 02/23/2023
Shares (FD): 488,000,000 488,000,000 02/23/2023
Insider Ownership: n/a 15% 11/19/2023
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a n/a 02/23/2023
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2023
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2023
Initial CapEx (Outstanding): $436.00M
1613.6% of MCap		 $436.00M
3454.87% of MCap 		02/23/2023
Funding Option: n/a n/a 02/23/2023
Documentation: none FS 11/19/2023
Future MCap Modifier: 0.1
Developer: Likely Path to Production
 0.1
Developer: Likely Path to Production
 04/24/2023
Cash Flow Multiplier: 5 2 04/17/2023

Resource Data

GOLD 02/23/2023
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 02/23/2023
Measured & Indicated: 1.00M 1.00M 02/23/2023
Inferred: n/a n/a 02/23/2023
Reserves & Resources: 1.00M 1.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/23/2023
Measured & Indicated: 0.60M 0.60M 02/23/2023
Inferred: n/a n/a 02/23/2023
Reserves & Resources: 0.60M 0.60M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 02/23/2023
Extra Operating Cost: n/a n/a 02/23/2023
Average Grade: 1.00 g/t 1.00 g/t 02/23/2023
Recovery Rate: (CG)  75.00% (CG)  75.00% 11/19/2023
F
U
T
U
R
E		 Proven & Probable: 1.00M 1.00M 02/23/2023
Annual Production: 45,000oz. 45,000oz. 02/23/2023
Cash Cost: $1 $100 04/17/2023
Extra Operating Cost: $1 $500 04/17/2023
SILVER 02/23/2023
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 02/23/2023
Measured & Indicated: n/a n/a 02/23/2023
Inferred: n/a n/a 02/23/2023
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/23/2023
Measured & Indicated: n/a n/a 02/23/2023
Inferred: n/a n/a 02/23/2023
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 02/23/2023
Extra Operating Cost: n/a n/a 02/23/2023
Average Grade: n/a n/a 02/23/2023
Recovery Rate: n/a n/a 02/23/2023
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/23/2023
Annual Production: n/a n/a 02/23/2023
Cash Cost: n/a n/a 02/23/2023
Extra Operating Cost: n/a n/a 02/23/2023

Property

Last Analysis Data  (02/23/2023)
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		 02/23/2023
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: n/a n/a n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): n/a n/a n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): n/a n/a n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: n/a n/a n/a
Max Profit / Current MCap: n/a n/a n/a
Max Profit Per Share (Gold): n/a n/a n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: n/a n/a n/a
Total Free Profit Per Share: n/a n/a n/a
FD MCap / Gold Eq.: n/a n/a n/a
FD MCap / Silver Eq.: n/a n/a n/a
FD MCap / Per Metal
as % Spot Price:		 n/a n/a n/a
Measured &
Indicated		 02/23/2023
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.: 0.60M 0.60M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,094.22M $882.78M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,094.22M $882.78M n/a
Max Profit / Current MCap: 40.496 69.952 n/a
Max Profit Per Share (Gold): $2.24 $1.81 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.24 $1.81 n/a
Total Free Profit Per Share: $2.17 $1.77 n/a
FD MCap / Gold Eq.: $45.03 $21.03 n/a
FD MCap / Silver Eq.: $0.53 $0.26 n/a
FD MCap / Per Metal
as % Spot Price:		 2.47% 1.02% n/a

Reserves &
Resources		 02/23/2023
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.: 0.60M 0.60M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,094.22M $882.78M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,094.22M $882.78M n/a
Max Profit / Current MCap: 40.496 69.952 n/a
Max Profit Per Share (Gold): $2.24 $1.81 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.24 $1.81 n/a
Total Free Profit Per Share: $2.17 $1.77 n/a
FD MCap / Gold Eq.: $45.03 $21.03 n/a
FD MCap / Silver Eq.: $0.53 $0.26 n/a
FD MCap / Per Metal
as % Spot Price:		 2.47% 1.02% n/a

Future Valuation (Cash Flow & Totals)

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