Companies · Mining & Resources

Fortius Metals, Inc.

Lafayette · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Fortius Metals, Inc. — recommendation, valuation, rhythm, risks.
$11.0M
Total raised · real
5
Rounds
0.2×
Latest step-up
Top 19%
Sector rank · raised
Series A
Latest stage · inferred · Tue Apr 29 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Fortius Metals, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.13× the median modeled value of Series A Mining & Resources companies in 2025–2027 (40 peers) — value vs value, same stage and era.
Quiet
  • Last raise 14 mo ago; this sector typically re-raises about every 11 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Fortius Metals, Inc. is one of 701 Mining & Resources companies tracked from Lafayette. By capital raised it ranks in the upper tier (ahead of 82% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2021
Year incorporated
2025-04-29
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$5.0M$10M$15M$20MSeed · 2021-08-18 Raised $1.4M (real) Modeled valuation $6.2M (est)Seed2021Seed · 2022-11-21 Raised $3.5M (real) Modeled valuation $13M (est)Seed2022Seed · 2023-05-09 Raised $485K (real) Modeled valuation $1.6M (est)Seed2023Pre-Seed · 2023-05-09 Raised $610K (real) Modeled valuation $2.1M (est)Pre-Seed2023Series A · 2024-02-13 Raised $5.0M (real) Modeled valuation $15M (est)Series A2024Seed · 2024-02-13 Raised $3.0M (real) Modeled valuation $8.7M (est)Seed2024Series A · 2025-04-29 Raised $575K (real) Modeled valuation $1.5M (est)Series A2025+$3.5M+$485K+$610K+$5.0M+$3.0M+$575KCumulative $15M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$1.4M · 2021
Seed extension$3.5M · 2022
Seed extension$485K · 2023
Bridge · Seed-stage$610K · 2023smaller follow-on
Series A$5.0M · 2024
Bridge · Series A-stage$3.0M · 2024smaller follow-on
Series A extension$575K · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$1.5M
Base estimate est.
$745K
Conservative case
$2.8M
Upside case
$2.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Seed · modeled $6.2M · 2021-08-182021Seed · modeled $12.5M · 2022-11-21Seed · modeled $1.6M · 2023-05-09Pre-Seed · modeled $2.1M · 2023-05-09Series A · modeled $15.3M · 2024-02-13Seed · modeled $8.7M · 2024-02-13Series A · modeled $1.5M · 2025-04-292025
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.11×/yr
Annual markup
1.39×/yr upside case
1.2 yr
Elapsed time used
1.2 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$3.0M/yr
Capital velocity
4.9 yr
On record since
2021
First round
7
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 4.8× above median
This company$11.0M
Sector median$2.3M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.1× of median
This company$575K
Sector median$4.2M
Modeled value — vs sector median (estimate, all stages) 0.6× of median
This company$1.5M
Sector median$2.5M

Raised more than 82% of sector peers (real $). Modeled value above 42% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #36 of 40.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Fortitude Gold Corp · Series A Raised $12.5M · modeled $29.6M (est)San Cristobal Mining Inc. · Series A Raised $17.2M · modeled $28.8M (est)Torngat Metals Ltd · Series A Raised $21.9M · modeled $27.1M (est)Rua Gold Inc. · Series A Raised $16.4M · modeled $25.0M (est)Red Metals, Inc. · Series A Raised $9.6M · modeled $23.7M (est)West Point Gold Corp. · Series A Raised $9.2M · modeled $21.3M (est)McFarlane Lake Mining Ltd · Series A Raised $7.9M · modeled $19.2M (est)Evolution Metals LLC · Series A Raised $7.2M · modeled $19.0M (est)Silverco Mining Ltd. · Series A Raised $7.7M · modeled $19.0M (est)Miedzi Copper Corp. · Series A Raised $10.7M · modeled $19.0M (est)Rise Gold Corp. · Series A Raised $20.9M · modeled $17.0M (est)TDG Gold Corp. · Series A Raised $6.6M · modeled $16.4M (est)Fortius Metals, Inc. (this company) Raised $11.0M · modeled $1.5M (est)Fortius Metals, Inc.
CompanyStageRaised · realValue · estvs peer med.
Fortitude Gold CorpSeries A$12.5M$29.6M2.41×
San Cristobal Mining Inc.Series A$17.2M$28.8M2.34×
Torngat Metals LtdSeries A$21.9M$27.1M2.20×
Rua Gold Inc.Series A$16.4M$25.0M2.03×
Red Metals, Inc.Series A$9.6M$23.7M1.93×
West Point Gold Corp.Series A$9.2M$21.3M1.73×
McFarlane Lake Mining LtdSeries A$7.9M$19.2M1.56×
Evolution Metals LLCSeries A$7.2M$19.0M1.54×
Silverco Mining Ltd.Series A$7.7M$19.0M1.54×
Miedzi Copper Corp.Series A$10.7M$19.0M1.54×
Rise Gold Corp.Series A$20.9M$17.0M1.38×
TDG Gold Corp.Series A$6.6M$16.4M1.33×
Fortius Metals, Inc. this companySeries A$11.0M$1.5M0.13×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.4M2021-08-18$7.0M$6.2M90%
Seed$3.5M2022-11-21$17.7M$12.5M90%
Seed$485K2023-05-09$2.4M$1.6M90%
Pre-Seed$610K2023-05-09$3.4M$2.1M90%
Series A$5.0M2024-02-13$22.9M$15.3M90%
Seed$3.0M2024-02-13$15.1M$8.7M90%
Series A$575K2025-04-29$2.6M$1.5M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.4M2021-08-18
    • First recorded raise — entered as Seed.
    • 13 investors on this round.
  2. Seed$3.5M2022-11-21
    • Raised 15 mo later, in step with the ~11 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 13 investors on this round.
  3. Seed$485K2023-05-09
    • Came back fast: 6 mo vs the ~11 mo sector norm.
    • Round 7.3× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  4. Pre-Seed$610K2023-05-09
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 7 investors on this round.
  5. Series A$5.0M2024-02-13
    • Raised 9 mo later, in step with the ~11 mo sector norm.
    • Round 8.3× larger than the prior — scaling up.
    • 17 investors on this round.
  6. Seed$3.0M2024-02-13
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 16 investors on this round.
  7. Series A$575K2025-04-29
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 5.3× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~7mo cadence
$575K
Modeled next size est.range $575K$920K
0.2×
Last step-up
$3.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Jacob Nuechterlein1 other2021-08
Evan Segal2024-02
Jeffrey Lints2021-08
Jeremy Iten2021-08
Jimmy Williams2025-04
Johann Oberhofer2022-11
Joseph Ruppert2025-04
Roel Callebaut2025-04
Registry & provenance

Fortius Metals, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1880957
SEC CIK
2021
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Ivor Exploration Inc.Mining & ResourcesSeries A$11.0M$1.6Msame sector · same stage
PPX Mining Corp.Mining & ResourcesSeries A$10.7M$510Ksame sector · same stage
Gold Express Mines, Inc.Mining & ResourcesSeries A$11.4M$2.0Msame sector · same stage
ADVENTUS MINING CorpMining & ResourcesSeries A$11.5M$1.6Msame sector · same stage
Goldsource Mines Inc.Mining & ResourcesSeries A$11.7M$870Ksame sector · same stage
Silver Bull Resources, Inc.Mining & ResourcesSeries A$11.9M$398Ksame sector · same stage
Bear Creek Mining CorpMining & ResourcesSeries A$10.2M$1.7Msame sector · same stage
Fury Gold Mines LtdMining & ResourcesSeries A$10.0M$1.6Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Metalite Resources Inc.OtherPre-Seed$5.6M86%
Red Metals, Inc.Mining & ResourcesSeries A$23.7M84%
Metallic Minerals Corp.Mining & ResourcesSeed$7.5M84%
Emperor Metals Inc.Mining & ResourcesPre-Seed$936K84%
ADVENTUS MINING CorpMining & ResourcesSeries A$1.6M84%
Military Metals Corp.Mining & ResourcesPre-Seed$241K84%
Fortitude Gold CorpMining & ResourcesSeries A$29.6M84%
Treasury Metals IncMining & ResourcesPre-Seed$705K84%
Frequently asked
How much funding has Fortius Metals, Inc. raised?
Fortius Metals, Inc. has raised approximately $11.0M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Fortius Metals, Inc.'s estimated valuation?
Provath's modeled valuation for Fortius Metals, Inc. is approximately $1.5M (modeled range $745K–$2.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Fortius Metals, Inc. at?
Fortius Metals, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Apr 29.
What does Fortius Metals, Inc. do and where is it based?
Fortius Metals, Inc. operates in the Mining & Resources sector, based in Lafayette.
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