FOR price target $2price at this time of report posting: $0,79
price target: $2+
1.)
Company closed the placement [url=https://www.stockwatch.com/News/Item?bid=Z-C%3aFOR-2902495&symbol=FOR®ion=C]News[/url]
2.)
Company will likely announce a new CEO soon.
3.)
Company has massive Gold assets. In compliance with
National Instrument 43-101 Standards of Disclosure for Mineral Projects, the
Goldfields Project includes 22,333,045 tonnes of ore at an average gold grade of 1.42 grams per tonne
for a total of 1,020,000 ounces of gold and identified the following key findings
- Estimated mine life of thirteen years;
- 5,000 tpd capacity with gold recoveries of 91% at the Box deposit and 89% at the Athona deposit;
- Strip ratio of 4.56:1 at the Box deposit and 1.10:1 at the Athona deposit;
- CAD$144.3 million pre-tax net present value using a base case of USD$1250/oz of gold; https://www.fortunebaycorp.com/properties
Gold price is not trading anymore $1250. Its $1700. Do the math on the value of the Goldfield Project.
4.) Will they sell the project to a bigger mining company while Gold pricing will outbreak target $2000?
5.) Share Price value $2 is way to cheap.
FOR is a buy - LONG FOR