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Fortune Bay
(FOR)
Fortune Bay (FOR) vs. iShares MSCI Canada ETF (EWC)
Fortune Bay Business Overview & Revenue Model
Fortune Bay Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.67K | -2.86K | -16.02K | -5.36K | -5.80K | -1.13K |
| EBITDA | -1.20M | -1.15M | -1.20M | -1.54M | -1.87M | -1.01M |
| Net Income | -1.49M | -1.49M | -1.39M | -1.37M | -1.83M | -1.09M |
Balance Sheet | ||||||
| Total Assets | 26.16M | 24.64M | 24.10M | 23.73M | 24.80M | 19.00M |
| Cash, Cash Equivalents and Short-Term Investments | 1.23M | 626.38K | 585.16K | 531.84K | 6.51M | 3.04M |
| Total Debt | 0.00 | 543.93K | 499.20K | 0.00 | 0.00 | 190.58K |
| Total Liabilities | 1.89M | 2.68M | 1.57M | 849.55K | 1.05M | 1.01M |
| Stockholders Equity | 24.27M | 21.96M | 22.53M | 22.88M | 23.75M | 18.00M |
Cash Flow | ||||||
| Free Cash Flow | -2.17M | -528.72K | -1.11M | -6.00M | -4.03M | -1.45M |
| Operating Cash Flow | -1.40M | -511.48K | -714.35K | -1.16M | -1.65M | -1.10M |
| Investing Cash Flow | -633.48K | -209.94K | -387.35K | -4.82M | -2.38M | -354.46K |
| Financing Cash Flow | 2.59M | 592.92K | 1.16M | 0.00 | 7.50M | 4.47M |
Fortune Bay Technical Analysis
Fortune Bay Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | C$70.42M | -63.19 | -8.75% | ― | ― | ― | |
56 Neutral | C$67.29M | -21.38 | -12.97% | ― | ― | 33.77% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | C$83.06M | -15.88 | -11.02% | ― | ― | -58.88% | |
50 Neutral | C$172.11M | -100.00 | -3.92% | ― | ― | ― | |
49 Neutral | C$54.46M | -28.27 | -6.38% | ― | ― | 1.39% | |
49 Neutral | C$84.66M | -15.96 | -42.27% | ― | ― | 28.32% |
Fortune Bay Corporate Events
Fortune Bay Corp. has appointed veteran mining engineer Ronald Halas as Senior Mining Advisor for its Goldfields Gold Project, adding more than 35 years of global gold mining and project development experience, including feasibility, construction and operations, to its technical bench as it advances the asset. Concurrently, the company reports that exploration drilling at the Box deposit has begun, key metallurgical and technical work for a pre-feasibility study is underway, and permitting and environmental baseline programs are progressing alongside community engagement, signalling steady de-risking of the Goldfields project and a more mature development phase in 2026.
Fortune Bay Corp. has announced a regulatory update concerning its Poma Rosa Project in Chiapas, Mexico. A new state-level protected natural area overlaps with 11% of the company’s Rio Negro concession, affecting parts of the Campamento gold-silver deposit. In response, Fortune Bay has filed a constitutional challenge to preserve its rights under federal Mexican mining law. The company has made significant progress in stakeholder engagement and expects no immediate operational or financial impact, although there may be timing uncertainties. Fortune Bay continues to work with Mexican legal counsel to assess the situation and will provide updates as needed.
Fortune Bay Corp. has adopted a formal Environmental, Social & Governance (ESG) Policy to enhance its commitment to responsible exploration and development of its gold and uranium projects. The policy emphasizes community engagement, environmental stewardship, transparency, ethical governance, and local economic participation. This initiative is expected to guide ongoing and future activities, including environmental studies and community engagement at Goldfields and exploration agreements in Chiapas, Mexico, while reinforcing the company’s values and stakeholder trust.
Fortune Bay Corp. announced the approval of annual equity incentive awards, granting 1,490,000 incentive stock options and 150,000 deferred share units to its directors, officers, contractors, and employees. This move is part of the company’s strategy to incentivize its team and align their interests with the company’s growth objectives, potentially impacting its operational efficiency and market positioning positively.
Fortune Bay Corp. has appointed Patrick McGrath as the new Chief Financial Officer, succeeding Sarah Oliver who has served since 2016. McGrath brings over 25 years of experience in the resource industry, with expertise in corporate finance and capital markets, which is expected to support Fortune Bay’s growth strategy and project advancements.
Fortune Bay Corp. has commenced an exploration drilling program at its Goldfields Gold Project in northern Saskatchewan, targeting resource expansion at the Box and Athona deposits and exploring new resources at underexplored historical occurrences. The program aims to unlock additional near-mine ounces to enhance the project’s economics and development profile, with initial plans for 17 exploration holes and potential for expansion based on results. The company’s strategic focus on expanding resources and advancing towards a Pre-Feasibility Study underscores its commitment to strengthening its position in Canada’s top mining jurisdiction.
Fortune Bay Corp. has announced the acceleration of its Goldfields Project following a successful $8 million financing and a strong Updated Preliminary Economic Assessment (PEA). The company is initiating technical work streams to advance towards a Pre-Feasibility Study in 2026, with plans for project-development and exploration drilling. The Updated PEA highlights robust economic potential with an after-tax NPV of C$610 million at a gold price of US$2,600 per ounce, and significant leverage to higher gold prices. Fortune Bay is also progressing with permitting activities and community consultations, aiming to unlock value and support resource growth potential.
Fortune Bay Corp. has successfully closed an $8 million bought deal private placement, raising funds through the issuance of flow-through shares and common shares. The proceeds will be allocated towards exploration and development activities at their Goldfields Gold Project in Saskatchewan, as well as exploration at the Poma Rosa Project in Mexico, subject to necessary agreements and permits. This financing move positions Fortune Bay to advance its projects and potentially enhance its market standing within the mining industry.
Fortune Bay Corp. has filed an updated Preliminary Economic Assessment (PEA) for its Goldfields Project in Saskatchewan, highlighting strong economic potential with an after-tax NPV of C$610 million at a gold price of US$2,600 per ounce. The project benefits from established infrastructure and a clear permitting pathway, with a focus on expedited production through open-pit mining. The updated PEA indicates significant leverage to gold prices, with potential for increased returns if gold prices rise, positioning Fortune Bay favorably within the industry and providing promising implications for stakeholders.
Fortune Bay Corp. has announced an agreement for an $8 million bought deal private placement with Cormark Securities Inc. as the lead underwriter. The proceeds will be used for exploration and development activities at the Goldfields Gold Project in Saskatchewan and other corporate purposes, with the offering expected to close by October 30, 2025, pending regulatory approvals.
Fortune Bay Corp. has announced an $8 million bought deal private placement agreement with Cormark Securities Inc. as the lead underwriter. The proceeds will be used for exploration and development activities at the Goldfields Gold Project in Saskatchewan, as well as other corporate purposes. This financing move is expected to support the company’s strategic initiatives and enhance its operational capabilities in the gold exploration sector.