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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$51.46M which is a rise of roughly 213% over the last twelve months. As of 02/23/2025 they have no debt and ~C$11.01M cash. They have 516M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 02/23/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $16.46M $51.46M 02/23/2025
MCap (OS): $14.54M $45.45M 02/23/2025
Total Assets: $49.32M $51.40M 02/23/2025
Total Liabilities: $1.41M $1.47M 02/23/2025
Current Assets: $10.57M $11.01M 02/23/2025
Current Liabilities: $0.35M $0.37M 02/23/2025
Total Debt: $0.00M $0.00M 02/23/2025
Cash: $10.57M $11.01M 02/23/2025
Debt (Net): $-10.57M $-11.01M
Enterprise Value: $5.89M $40.44M
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: 02/23/2025
Misc 02/23/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 515,787,643 515,787,643 02/23/2025
Shares (FD): 584,000,000 584,000,000 02/23/2025
Insider Ownership: n/a 15% 01/01/2026
Dividend (Annual): n/a n/a 01/01/2026
Company Type: Mostly Gold Mostly Gold never
Group: Developer Developer never
Production ETA: n/a n/a 02/23/2025
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2025
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2025
Development Phase: none FS Released 02/23/2025
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 10
Developer: Likely Path to Production
 10
Developer: Likely Path to Production
 04/24/2023
Cash Flow Multiple: 2 2 04/17/2023

Resource Data

GOLD 02/23/2025
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 02/23/2025
Measured & Indicated: 1.00M 1.00M 02/23/2025
Inferred: n/a n/a 02/23/2025
Reserves & Resources: 1.00M 1.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/23/2025
Measured & Indicated: 0.64M 0.64M 02/23/2025
Inferred: n/a n/a 02/23/2025
Reserves & Resources: 0.64M 0.64M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 02/23/2025
Extra Operating Cost: n/a n/a 02/23/2025
Total: $600 $600 02/23/2025
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 02/23/2025
Open Pit (Avg): n/a 1.00 g/t 02/23/2024
Recovery Rate: (CG)  80.00% (CG)  80.00% 01/01/2026
F
U
T
U
R
E		 Proven & Probable: 1.00M 1.00M 02/23/2025
Annual Production: 45,000oz. 45,000oz. 02/23/2025
Cash Cost: $100 $100 02/23/2025
Extra Operating Cost: $500 $500 02/23/2025
SILVER 02/23/2025
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 02/23/2025
Measured & Indicated: n/a n/a 02/23/2025
Inferred: n/a n/a 02/23/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 02/23/2025
Measured & Indicated: n/a n/a 02/23/2025
Inferred: n/a n/a 02/23/2025
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 02/23/2025
Extra Operating Cost: n/a n/a 02/23/2025
Total: n/a n/a 02/23/2025
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 02/23/2025
Open Pit (Avg): n/a n/a 02/23/2024
Recovery Rate: n/a n/a 02/23/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 02/23/2025
Annual Production: n/a n/a 02/23/2025
Cash Cost: n/a n/a 02/23/2025
Extra Operating Cost: n/a n/a 02/23/2025

Property

Last Analysis Data  (02/23/2025)
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		 02/23/2025
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
EV / Gold Eq.: n/a n/a n/a
EV / Silver Eq.: n/a n/a n/a
EV / Per Metal
as % Spot Price:		 n/a n/a n/a
Measured &
Indicated		 02/23/2025
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.: 0.64M 0.64M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,494.46M $2,834.30M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,494.46M $2,834.30M n/a
Max Profit / Current MCap: 90.798 55.079 n/a
Max Profit Per Share (Gold): $2.56 $4.85 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.56 $4.85 n/a
Total Free Profit Per Share: $2.52 $4.73 n/a
FD MCap / Gold Eq.: $25.72 $80.40 n/a
FD MCap / Silver Eq.: $0.29 $1.24 n/a
FD MCap / Per Metal
as % Spot Price:		 0.88% 1.60% n/a
EV / Gold Eq.: $9.20 $63.19 n/a
EV / Silver Eq.: $0.10 $0.97 n/a
EV / Per Metal
as % Spot Price:		 0.31% 1.26% n/a

Reserves &
Resources		 02/23/2025
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.: 0.64M 0.64M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,494.46M $2,834.30M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,494.46M $2,834.30M n/a
Max Profit / Current MCap: 90.798 55.079 n/a
Max Profit Per Share (Gold): $2.56 $4.85 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.56 $4.85 n/a
Total Free Profit Per Share: $2.52 $4.73 n/a
FD MCap / Gold Eq.: $25.72 $80.40 n/a
FD MCap / Silver Eq.: $0.29 $1.24 n/a
FD MCap / Per Metal
as % Spot Price:		 0.88% 1.60% n/a
EV / Gold Eq.: $9.20 $63.19 n/a
EV / Silver Eq.: $0.10 $0.97 n/a
EV / Per Metal
as % Spot Price:		 0.31% 1.26% n/a

Future Valuation (Cash Flow & Totals)

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