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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$17.54M which is a rise of roughly 5% over the last ten months. As of 02/23/2024 they have no debt and ~C$0.35M 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
Item Value Value Updated
MCap (FD): $16.64M $17.54M 02/23/2024
Total Assets: $51.92M $48.64M 02/23/2024
Total Liabilities: $1.48M $1.39M 02/23/2024
Current Assets: $0.37M $0.35M 02/23/2024
Current Liabilities: $0.37M $0.35M 02/23/2024
Total Debt: $0.00M $0.00M 02/23/2024
Cash: $0.37M $0.35M 02/23/2024
Enterprise Value: $16.27M $17.20M 07/18/1970
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: 02/23/2024
Misc 02/23/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 499,643,862 499,643,862 02/23/2024
Shares (FD): 561,000,000 561,000,000 02/23/2024
Insider Ownership: n/a 15% 02/29/2024
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a n/a 02/23/2024
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2024
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 02/23/2024
Initial CapEx (Outstanding): $436.00M
2619.51% of MCap		 $436.00M
2485.3% of MCap 		02/23/2024
Funding Option: n/a n/a 02/23/2024
Documentation: none FS 02/29/2024
Future MCap Modifier: 0.1
Developer: Likely Path to Production
 0.1
Developer: Likely Path to Production
 04/24/2023
Cash Flow Multiplier: 2 2 04/17/2023

Resource Data

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

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
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		 02/23/2024
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): $861.00M $1,212.24M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $861.00M $1,212.24M n/a
Max Profit / Current MCap: 51.729 69.101 n/a
Max Profit Per Share (Gold): $1.53 $2.16 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.53 $2.16 n/a
Total Free Profit Per Share: $1.49 $2.12 n/a
FD MCap / Gold Eq.: $27.74 $29.24 n/a
FD MCap / Silver Eq.: $0.31 $0.33 n/a
FD MCap / Per Metal
as % Spot Price:		 1.36% 1.12% n/a

Reserves &
Resources		 02/23/2024
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): $861.00M $1,212.24M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $861.00M $1,212.24M n/a
Max Profit / Current MCap: 51.729 69.101 n/a
Max Profit Per Share (Gold): $1.53 $2.16 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.53 $2.16 n/a
Total Free Profit Per Share: $1.49 $2.12 n/a
FD MCap / Gold Eq.: $27.74 $29.24 n/a
FD MCap / Silver Eq.: $0.31 $0.33 n/a
FD MCap / Per Metal
as % Spot Price:		 1.36% 1.12% n/a

Future Valuation (Cash Flow & Totals)

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