Fortune Minerals Limited
Collaborating With Rio Tinto/Advancing Financing Initiatives
Published: 11/1/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
*See important disclosures at the bottom of this reportSector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:
FT.TO - TSX 🔹
FTMDF - NASDAQ 🔹
Rating and Key Data
Metrics | Value |
---|---|
Current Price | US $0.04 |
Fair Value | US $0.31 |
Risk | 5 |
Week Range | US $0.03-0.09 |
Shares O/S (M) | 478 |
Market Cap. (M) | US $17 |
Current Yield (%) | n/a |
P/E (forward) | n/a |
P/B | 0.5 |
Highlights
Fortune’s NICO cobalt-gold-bismuth-copper project hosts the largest primary cobalt deposit in North America, and the world’s largest bismuth deposit. The U.S., EU, and Canada have identified cobalt and bismuth as critical minerals.
FT has an option to acquire a brownfield refinery site in Alberta, which can be modified into a refinery for producing cobalt sulphate, gold doré, bismuth ingots/oxides, and copper cement. We believe a major advantage of this site is its proximity to a rail line, and sources of water, natural gas, power, sulphuric acid, and reagents.
Rating and Key Data
Metrics | Value |
---|---|
Current Price | US $0.04 |
Fair Value | US $0.31 |
Risk | 5 |
Week Range | US $0.03-0.09 |
Shares O/S (M) | 478 |
Market Cap. (M) | US $17 |
Current Yield (%) | n/a |
P/E (forward) | n/a |
P/B | 0.5 |