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  5. FOM: FOM Has good backing Prem Watsa. [Foran Mining Corporation]
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Q: FOM

Has good backing Prem Watsa. FFH Ontario Teachers. and FNV Where is property situated. How good is property. Is it in Flinn Flon area of MANITOBA

Is it a BUY ? RAK
Asked by bob on December 19, 2023
5i Research Answer:

FOM's properties are in the Flin Flon Greenstone Belt, which is in both Manitoba and Sask. FFH owns 18%. It has $105M cash. As a developer, it has no revenue, losses and negative cash flow. It just raised another $200M. It has growing expansion potential, and we would consider it buyable for investors seeking a copper/zinc developer for the long term.