Fortune Minerals Limited

FT.TO

Industrial Materials · Basic Materials

Price

C$0.14

+0.01 (+3.70%)

Market Cap

C$91.9M

Exchange

Toronto Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+50.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 365.4M (2021) → 548.9M (2025)

Winston Score History

The full picture

Fortune Minerals is a Canadian mining company focused on developing the ARIES cobalt-gold-bismuth project in the Northwest Territories of Canada. The company plans to mine these metals and process them at a refinery it wants to build in Alberta. Cobalt and bismuth are used in rechargeable batteries, electronics, and specialty alloys, with potential customers including battery manufacturers and industrial companies.

Fortune Minerals does not yet generate meaningful revenue, as the ARIES project is still in the development stage. The company is listed on the Toronto Stock Exchange and has a small market cap of around $100 million, reflecting its pre-production status. Its main competitive angle is owning one of the few significant cobalt deposits in a stable, politically safe country like Canada, which matters to buyers trying to avoid supply chains tied to the Democratic Republic of Congo. The biggest risk is securing the large amount of financing needed to actually build the mine and refinery.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

-69.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$0/ year

Research and development spending

Insider Activity

10.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 months

C$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Fortune Minerals Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-3.2%

Weak — -3.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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