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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$62.24M which is a rise of roughly 9% over the last days. As of 03/07/2026 they have no debt and ~C$12.5M cash. They have 604M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 03/07/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $57.07M $62.24M 03/07/2026 $5.17M
MCap (OS): $50.91M $55.53M 03/07/2026 $4.61M
Total Assets: $51.31M $51.48M 03/07/2026 $0.17M
Total Liabilities: $13.19M $13.24M 03/07/2026 $0.04M
Current Assets: $12.46M $12.50M 03/07/2026 $0.04M
Current Liabilities: $0.37M $0.37M 03/07/2026 $0.00M
Total Debt: $0.00M $0.00M 03/07/2026 $0.00M
Cash: $12.46M $12.50M 03/07/2026 $0.04M
Debt (Net): $-12.46M $-12.50M $-0.04M
Enterprise Value: $44.60M $49.73M $5.13M
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: 03/07/2026 n/a
Misc 03/07/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 604,000,001 604,000,001 03/07/2026 0
Shares (FD): 677,000,000 677,000,000 03/07/2026 0
Insider Ownership: 15% 15% 03/07/2026 n/a
Dividend (Annual): n/a n/a 03/07/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Developer Developer never n/a
Production ETA: n/a 06/01/2028 03/07/2026 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 03/07/2026
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 03/07/2026
Development Phase: FS Released FS Released 03/07/2026 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
 03/07/2026 0
Cash Flow Multiple: 5 5 03/07/2026 0.00

Resource Data

GOLD 03/07/2026
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 03/07/2026 0.00M
Measured & Indicated: 1.00M 1.00M 03/07/2026 0.00M
Inferred: n/a n/a 03/07/2026 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 03/07/2026 0.00M
Measured & Indicated: 0.64M 0.64M 03/07/2026 0.00M
Inferred: n/a n/a 03/07/2026 0.00M
Reserves & Resources: 0.64M 0.64M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 03/07/2026 $0.00
Extra Operating Cost: n/a n/a 03/07/2026 $0.00
Total: $1,300 $1,300 03/07/2026 $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): n/a n/a 03/07/2026 n/a
Open Pit (Avg): n/a 1.00 g/t 03/07/2026 n/a
Recovery Rate: (CG)  80.00% (CG)  80.00% 03/07/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 1.00M 1.00M 03/07/2026 0.00M
Annual Production: 45,000oz. 45,000oz. 03/07/2026 0oz.
Cash Cost: $400 $400 03/07/2026 $0
Extra Operating Cost: $900 $900 03/07/2026 $0
SILVER 03/07/2026
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 03/07/2026 0.00M
Measured & Indicated: n/a n/a 03/07/2026 0.00M
Inferred: n/a n/a 03/07/2026 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 03/07/2026 0.00M
Measured & Indicated: n/a n/a 03/07/2026 0.00M
Inferred: n/a n/a 03/07/2026 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 03/07/2026 $0.00
Extra Operating Cost: n/a n/a 03/07/2026 $0.00
Total: n/a n/a 03/07/2026 $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 03/07/2026 n/a
Open Pit (Avg): n/a n/a 03/07/2026 n/a
Recovery Rate: n/a n/a 03/07/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 03/07/2026 0.00M
Annual Production: n/a n/a 03/07/2026 n/a
Cash Cost: n/a n/a 03/07/2026 n/a
Extra Operating Cost: n/a n/a 03/07/2026 n/a

Property

Last Analysis Data  (03/07/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 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.

Size: 5,000 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 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.

Size: 5,000 ha

Profitability (by resource)

Proven &
Probable		 03/07/2026
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		 03/07/2026
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.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.08M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.64M 0.64M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.69M
Maximum Profit (Gold): $2,478.69M $2,446.25M n/a $-32.44M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,478.69M $2,446.25M n/a $-32.44M
Max Profit / Current MCap: 43.436 39.305 n/a -4.131
Max Profit Per Share (Gold): $3.66 $3.61 n/a $-0.05
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.66 $3.61 n/a $-0.05
Total Free Profit Per Share: $3.55 $3.49 n/a $-0.06
FD MCap / Gold Eq.: $89.16 $97.25 n/a $8.08
FD MCap / Silver Eq.: $1.46 $1.62 n/a $0.16
FD MCap / Per Metal
as % Spot Price:		 1.72% 1.90% n/a 0.17%
EV / Gold Eq.: $69.70 $77.71 n/a $8.01
EV / Silver Eq.: $1.14 $1.29 n/a $0.15
EV / Per Metal
as % Spot Price:		 1.35% 1.52% n/a 0.17%

Reserves &
Resources		 03/07/2026
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.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.08M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.64M 0.64M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.69M
Maximum Profit (Gold): $2,478.69M $2,446.25M n/a $-32.44M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,478.69M $2,446.25M n/a $-32.44M
Max Profit / Current MCap: 43.436 39.305 n/a -4.131
Max Profit Per Share (Gold): $3.66 $3.61 n/a $-0.05
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.66 $3.61 n/a $-0.05
Total Free Profit Per Share: $3.55 $3.49 n/a $-0.06
FD MCap / Gold Eq.: $89.16 $97.25 n/a $8.08
FD MCap / Silver Eq.: $1.46 $1.62 n/a $0.16
FD MCap / Per Metal
as % Spot Price:		 1.72% 1.90% n/a 0.17%
EV / Gold Eq.: $69.70 $77.71 n/a $8.01
EV / Silver Eq.: $1.14 $1.29 n/a $0.15
EV / Per Metal
as % Spot Price:		 1.35% 1.52% n/a 0.17%

Future Valuation (Cash Flow & Totals)

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