Fortune Minerals Limited (FT) Financings
TSX: FT · Cobalt, Gold, Bismuth · Development stage
- Market cap$73.6M
- Share price$0.110
- 52-week range$0.080 – $0.250
- Shares outstanding669,113,728
- ExchangeTSX
- Websitefortuneminerals.com
Fortune is a Canadian mining and mineral processing company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO deposit and is a potential future source of incremental feed to extend the life of the NICO concentrator.
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Fortune Minerals Limited financial statements
Key figures read from 44 of 44 financial statement filings, Nov 10, 2016 to Aug 14, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Jan 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$2,257,451 | C$1,592,329 | C$673,635 | C$78,650 | C$1,802,920 |
| Total current assets | C$3,934,168 | C$2,476,665 | C$759,735 | C$238,291 | C$2,062,881 |
| Total current liabilities | C$20,128,840 | C$15,948,229 | C$9,716,940 | C$8,265,340 | C$11,910,208 |
| Working capital | (C$16,194,672) | (C$13,471,564) | (C$8,957,205) | (C$8,027,049) | (C$9,847,327) |
| Property, plant and equipment | C$6,154,575 | C$200,878 | — | — | — |
| Total assets | C$10,293,386 | C$4,815,025 | C$1,560,845 | C$46,445,827 | C$2,633,298 |
| Debt | C$17,687,433 | C$12,565,650 | C$9,274,663 | C$8,036,943 | C$12,769,285 |
| Total liabilities | C$20,324,006 | C$16,215,500 | C$10,024,815 | C$8,573,459 | C$14,747,875 |
| Shareholders' equity | (C$10,030,620) | (C$11,400,475) | (C$8,463,970) | C$37,872,368 | (C$12,114,577) |
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | — | C$1,391,503 | C$379,445 | — | — |
| General and administrative | C$681,906 | C$971,011 | C$845,041 | C$915,853 | C$781,653 |
| Share-based compensation | C$858,730 | C$0 | C$303,740 | C$587,180 | C$299,205 |
| Impairments and write-downs | — | — | — | C$31,200,000 | — |
| Net income (loss) | (C$4,524,646) | (C$3,608,045) | (C$2,850,574) | (C$32,969,267) | (C$2,413,216) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | FY Dec 2020 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$186,522) | (C$1,213,199) | (C$1,202,264) | (C$814,588) | (C$568,219) |
| Investing cash flow | (C$1,603,784) | (C$185,594) | (C$726,331) | (C$1,369,457) | (C$646,799) |
| Financing cash flow | C$2,709,000 | C$1,993,778 | C$204,325 | C$2,908,081 | C$189,001 |
| Exploration spending (capitalized) | — | — | (C$386,081) | (C$1,320,522) | (C$600,484) |
| Property, plant and equipment spending | (C$20,631) | — | — | — | — |
| Proceeds from share issues | C$0 | C$1,895,421 | C$224,745 | C$948,711 | C$129,001 |
| Change in cash | (C$918,694) | (C$594,985) | (C$1,724,270) | C$724,036 | (C$1,026,017) |
| Cash at end of period | C$1,592,329 | C$673,635 | C$78,650 | C$1,802,920 | C$1,078,884 |
Fortune Minerals Limited financings
1 financing announced or closed by Fortune Minerals Limited, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-11-10 | Fortune Minerals Limited (FT) | Debt | Closed, 1 tranche | $3.8M | — | Fortune Minerals Announces Additional Government Support to Help Purchase the NICO Alberta Refinery Site Prosper NWT is providing a C$3.8 million loan to help complete the acquisition from JFSL |
Fortune Minerals Limited debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Fortune Minerals Limited has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2025-11-10 | Loan, signed | Refinery Site Prosper NWT | C$3.8M | 8.45% |
| 2024-12-23 | Convertible note / loan, drawdown | Lind Partners | C$1.57M | — |
| 2022-12-12 | Notes / bonds, repaid / settled | — | C$1.25M | 9%, matures 2023-12-31 |
| 2022-12-01 | Notes / bonds, repaid / settled | — | C$1.25M | 9%, matures 2021 |
| 2022-08-18 | Notes / bonds, amended | — | C$12.36M | 10%, matures 2022-11-30 |