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Stockchase Insights Fortune Minerals Ltd. FT-T DON'T BUY Jan 22, 2024

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

FT market cap is a highly-risky $22M, and shares are down 44% in the past year. It has $9.2M in debt which adds even more risk. We are generally not in the habit of suggesting 4-cent stocks. It did recently receive $714,500 in government funding but this will not go a long way. Insiders own 6%. It has no revenue, has never made money and has negative cash flow. It is 'collaborating' with Rio Tinto, but we would not expect a buyout here and would not endorse it.
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TOP PICK

Fortune Minerals Ltd.(FT-T)

Sep 24, 2007
A deep value play. Have 2 key assets. Coal deposit in B.C. valued at $150 to $250 million. Gold/cobalt play in N.W.T., which is worth about $150 million. Has $25 million in cash. Trades at about .4X NAV.
Brendan KyneBrendan Kyne
Owned
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$2.840

Stock price when the opinion was issued

precious metals
DON'T BUY

Fortune Minerals Ltd.(FT-T)

Oct 18, 2007
It could be in play, but at a much lower level. Too expensive.
Benj GallanderBenj Gallander
Unknown
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$2.500

Stock price when the opinion was issued

precious metals
HOLD

Fortune Minerals Ltd.(FT-T)

Dec 22, 2010
Big coal deposit up north and will be going into production with tungsten and gold, which should generate some cash flow. A lot of acquisitions in coal so this could be a target eventually. Good story to hang on to for the long term.
Peter ImhofPeter Imhof
No
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$1.580

Stock price when the opinion was issued

precious metals
STRONG BUY

Fortune Minerals Ltd.(FT-T)

Jan 12, 2011
Have both a coal and cobalt deposits in B.C. Trying to surface value from the coal deposit through a joint venture or something on those lines. This will give them financing for their cobalt project. A lot of value and stock should move significantly higher.
Andrew CookAndrew Cook
Owned
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$1.640

Stock price when the opinion was issued

precious metals
BUY

Fortune Minerals Ltd.(FT-T)

Dec 29, 2011
Would consider for a trade but only for a tax loss trade. Otherwise he is negative on it.
James HodginsJames Hodgins
No
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$0.750

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precious metals
SELL ON STRENGTH

Fortune Minerals Ltd.(FT-T)

Jan 20, 2014

Is getting momentum from cyclical behaviour from others in the sector. It has been in a downtrend. It is a good idea to get out in the next rally.

Ron MeiselsRon Meisels
Unknown
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$0.455

Stock price when the opinion was issued

precious metals
COMMENT

Fortune Minerals Ltd.(FT-T)

Jul 14, 2017

This has a large cobalt deposit. A good deposit mixed with bismuth, which is used in the treatment of metal. The company has struggled for years as mining companies do. It has managed to raise some money and is in a strategically choice area. (See Top Picks.)

Michael SmedleyMichael Smedley
Owned
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$0.225

Stock price when the opinion was issued

precious metals
COMMENT

Fortune Minerals Ltd.(FT-T)

Nov 17, 2017

Cobalt. He was told to wait for the very high quality nickel, as the battery of the future will be nickel, lithium, etc., which gave him a sense of cobalt receding a bit. They are also big in bismuth.

Michael SmedleyMichael Smedley
Owned
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$0.185

Stock price when the opinion was issued

precious metals
COMMENT

Fortune Minerals Ltd.(FT-T)

Jan 16, 2018

He met with management 7-8 years ago. The difficulty is that it’s been around since 1988 and revenues have always been a difficulty. They have no production. Expects there to be quite a bit of dilution. He doesn't invest in companies without revenues.

Benj GallanderBenj Gallander
No
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$0.320

Stock price when the opinion was issued

precious metals

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