Fort Capital | Investment Banking Pitch Book | 56 slides

Fort Capital · 2021-10
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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Slide inventory

56
every slide · same image gating as the playbook
01
Slide 1
front_matter
03
front_matter
04
transition
05
This is a formal disclosure slide detailing the scope of work, independence, and fee structure for the financial advisor.front_matter
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The slide uses a timeline structure on the left linked to specific agreement details on the right.establish_context
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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summarize
Open slide detailBeat · Situation & ContextLoop · Logic Chain
08
The chart highlights specific event-driven share price increases for Corvus in May and July 2021.compare_peers
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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The slide uses a bar chart to compare relative share price returns. The 'Unaffected Date' is defined as May 5, 2021.compare_peers
10
Includes a dual-axis chart showing share price (line) and volume (bars) over time.analyze_data
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transition
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Includes a map of project areas and a detailed shareholder table.establish_context
Open slide detailBeat · Evidence & Proof
13
Slide contains a dual-axis chart showing Au production (bars) and AISC (line).illustrate_case
Open slide detailBeat · Evidence & Proof
14
Slide provides a comprehensive summary of a mining project's PEA stage status, including financial and operational KPIs.illustrate_case
Open slide detailBeat · Evidence & Proof
15
The slide highlights a specific exploration discovery and its potential, while noting strategic limitations due to neighboring claims.illustrate_case
Open slide detailBeat · Evidence & Proof
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Map shows land holdings of AngloGold, Coeur, Kinross, Augusta Gold, and Waterton in the Beatty, NV area.establish_context
Open slide detailBeat · Evidence & Proof
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summarize
Open slide detailBeat · Evidence & Proof
18
The slide uses a dual-axis chart (Share Price in C$ vs Gold Price in US$/oz) combined with a table of event descriptions keyed to the chart.analyze_data
Open slide detailBeat · Evidence & Proof
19
Includes a Turn of Float VWAP calculation table and a share accumulation histogram.analyze_data
Open slide detailBeat · Evidence & Proof
20
Includes quotes from specific analyst reports regarding the AngloGold Ashanti acquisition offer.analyze_data
Open slide detailBeat · Evidence & Proof
21
The slide highlights specific line items (Cash, Capitalized Acquisition Costs, Notes Payable) and provides context on the AngloGold $20M facility.analyze_data
Open slide detailBeat · Evidence & Proof
22
Includes a table of equity financings and two bar charts showing quarterly and annual cash flows.analyze_data
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Evidence & Proof
24
Includes specific regulatory reference (MI 61-101) regarding valuation standards.other
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
25
The slide details specific adjustments made to the PEA models to create a 'Base Case' scenario for valuation.present_framework
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
26
The chart combines stacked bars for production (koz) and a line graph for AISC (US$/oz).analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
27
The slide presents two charts: a stacked bar chart for revenue mix and a combination bar/line chart for FCF and Capex.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
28
Includes a detailed multi-year cash flow table (2023-2038) and a summary of key assumptions.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
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Includes a detailed table of cash flows from 2026 to 2035.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
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Includes two data tables showing NPV values in US$M.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
31
The table uses a standard SOTP valuation structure, adjusting for debt, cash, and share count to arrive at NAVPS.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
32
The slide uses two bar charts to illustrate the impact of three variables on NAVPS in both absolute dollar terms and percentage terms.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
33
The slide explains why mining projects trade at a discount to NAV and applies this logic to two specific projects.diagnose
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
34
The slide contains two distinct DCF tables for two different projects with specific assumptions for valuation dates and P/NAV multiples.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
35
The slide uses a standard build-up approach for WACC calculation, incorporating risk-free rates, equity risk premiums, beta, industry risk, size premiums, and panalyze_data
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
36
Includes detailed assumptions table and a multi-year bar chart with data table.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Hypothesis Test
37
The chart uses color coding to distinguish between PEA stage or prior and post-PEA stage companies.compare_peers
38
The slide uses a dual-axis bar chart format to compare valuation multiples against enterprise value for a set of peer companies.compare_peers
39
The slide uses a bar chart integrated into a table to visualize P/NAV multiples for various gold mining transactions.cite_precedent
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The slide uses a bar chart integrated into a table to visualize EV/M&I and EV/Resource multiples, with red dashed lines indicating selected valuation ranges.cite_precedent
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The slide uses a bar chart integrated into a table to visualize TAC values and highlights a selected range of 60-65% for TAC % of spot.cite_precedent
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The slide uses a football field chart to visualize valuation ranges across different methodologies.quantify_impact
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The slide uses checkmarks and tilde icons to indicate positive or neutral impact assessments.summarize
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transition
Open slide detailBeat · Impact & Next Steps
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This is a standard fairness opinion disclosure slide found in M&A advisory decks.summarize
Open slide detailBeat · Impact & Next Steps
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transition
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Standard disclosure slide for financial advisory engagements.appendix
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The table includes line items for gold/silver production, pricing, operating expenses, taxes, and capital expenditures, culminating in an NPV calculation.appendix
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The table includes production metrics (gold/silver ounces), pricing assumptions, revenue breakdown, operating expenses, and tax/capital adjustments leading to aappendix
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The table includes historical data (Y-3 to Y-1) and projected data (Y1 to Y15).appendix
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The table includes projections for Net Asset Value, share counts, financing events, and implied share prices.analyze_data
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The table segments companies into 'Nevada Gold Developers' and 'Non-Nevada Gold Developers', providing averages and medians for key valuation metrics.compare_peers
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The chart displays two distinct peer groups with their respective averages highlighted.compare_peers
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The table provides a comprehensive list of gold mining M&A transactions with key financial and operational metrics.cite_precedent