Fortune Bay Corp.
Fortune Bay Corp. (TSXV: FOR, headquartered in Halifax, Nova Scotia) is a gold developer whose flagship asset is the Goldfields Gold Project near Uranium City, Saskatchewan. An independent Updated Preliminary Economic Assessment (NI 43-101 technical report by Ausenco Engineering Canada, with SRK Consulting on the resource and Moose Mountain Technical Services on mine design; results announced 19 Sep 2025, technical report filed 29 Oct 2025) reported a 13.9-year mine life, 95.4% overall gold recovery, an after-tax NPV5% of C$610 million and 44.0% IRR at a US$2,600/oz gold base case (rising to C$1.25 billion NPV / 74.2% IRR at spot US$3,650/oz), initial capital of C$301 million, and an AISC of US$1,330/oz. Fortune Bay also holds the Poma Rosa project in Chiapas, Mexico, and an optioned portfolio of uranium properties in the Athabasca Basin, Saskatchewan.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of Fortune Bay Corp. Mining executive with over 25 years of international experience, including as Vice President of Exploration at Denison Mines Corp., where he played a key role in uranium discoveries totaling more than 70 million pounds U3O8. Registered Professional Geologist with degrees in Geology from Canadian universities.
Chief Financial Officer of Fortune Bay Corp. Finance executive with over 25 years in the resource industry, most recently CEO of Blue Moon Metals Inc. until November 2024; previously held CFO and CEO positions at Hemlo Mining Corp. Chartered Professional Accountant.
Executive Chairman of Fortune Bay Corp. Atlantic Canadian entrepreneur and investor who co-founded Keeper Resources Inc. (sold for $51.6 million in 2008) and Brigus Gold Corp. (acquired for $351 million in 2014). Holds a Bachelor of Commerce from Memorial University; named Entrepreneur of the Year in Newfoundland in 2023.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Spartan Fund Management owns about 11% of Fortune Bay through a dedicated natural-resources fund it operates in partnership with a Lundin-family-connected manager -- real, sizeable specialist conviction rather than a generalist allocation.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Task #871: Goldfields Project (Saskatchewan) Updated PEA (NI 43-101 technical report, Ausenco Engineering Canada with SRK Consulting Canada Inc. on the updated resource and Moose Mountain Technical Services on mine design; results announced 19 Sep 2025, technical report filed 29 Oct 2025). Base case (US$2,600/oz gold): after-tax NPV5% C$610M (converted at this repo's established 0.724 USD/CAD flat rate = US$441.64M), after-tax IRR 44.0%, 13.9-year mine life, 95.4% overall gold recovery, initial capex C$301M (incl. C$51M contingency = US$217.92M), AISC US$1,330/oz Au, cash cost US$1,207/oz Au. Elevated-price sensitivity (US$3,650/oz spot): after-tax NPV5% C$1.25B, IRR 74.2% -- not written to any field, base-case figures used per this DB's convention. 1.7-year after-tax payback (not written, no schema field). Supersedes this row's PRIOR technicalReportNote, which declined all of these fields as unverified "IR/marketing claims" -- that framing predates this Oct 2025 technical-report filing.
No reports or presentations linked yet.