202631 releases
Fortuna Approves 30% Capacity Expansion of the Séguéla Gold Mine in Côte d’Ivoire
Fortuna has approved a 30% expansion of processing capacity at the Séguéla Gold Mine in Côte d'Ivoire, from 1.75 Mtpa to 2.3 Mtpa, with average gold recovery expected to reach 94.5% and average annual gold production of more than 200,000 ounces over the next decade. Estimated construction capital is $109 million, funded from operating cash flow and liquidity of approximately $800 million as of the end of Q1 2026, with a projected payback of about 2.5 years. Construction is expected to begin in H2 2026, underground mining at Sunbird in Q2 2027, and ramp-up to 2.3 Mtpa in H2 2028.
CorporateFortuna Files Feasibility Study Technical Report for the Diamba Sud Gold Project, Senegal
A NI 43-101 technical report titled "Diamba Sud Gold Project, Kédougou Region, Senegal," with an effective date of June 30, 2026, has been filed by Fortuna Mining Corp. The report supports the Feasibility Study results announced in the company's June 29, 2026 news release. It is available on the company's website, SEDAR+ and EDGAR.
Study resultsFortuna obtains key environmental approval for Diamba Sud Gold Project in Senegal
Senegal's Ministry of Environment and Ecological Transition has issued the environmental decree approving the Environmental and Social Impact Assessment for the Diamba Sud Gold Mine, following Fortuna Mining's mining permit application submitted to the Ministry of Energy, Petroleum, and Mines on February 4, 2026. Early works including camp construction and purchase orders for critical-path equipment are underway, with a 2026 project budget of US$100 million and a final investment and construction decision anticipated by mid-2026.
CorporateFortuna Reports Results for the First Quarter 2026
First quarter 2026 free cash flow from ongoing operations of $174.0 million, up $41.7 million quarter over quarter, with adjusted attributable net income of $111.0 million, or $0.36 basic EPS, on sales of $342.5 million and production of 72,872 gold equivalent ounces. Consolidated cash cost was $951/GEO and AISC $2,107/GEO; cash and short-term investments rose to $665.9 million. Séguéla AISC is expected at the higher end of guidance; Diamba Sud and Séguéla plant expansion investment decisions are expected by mid-year.
CorporateFortuna Renews Share Buyback Program
CorporateFortuna reports production of 72,872 gold equivalent ounces in the first quarter of 2026 and provides a business update
First quarter 2026 production totaled 72,872 gold equivalent ounces, up from 65,130 GEO in Q4 2025 and 70,386 GEO in Q1 2025, comprising 42,016 oz at Séguéla (Côte d'Ivoire), 21,545 oz at Lindero (Argentina) and 9,311 GEO at Caylloma (Peru); 2026 guidance of 281,000 to 305,000 GEO was reiterated. Séguéla plant expansion studies targeting 2.0 to 2.5 million tonnes per year are due in May 2026, with the Diamba Sud feasibility study expected mid-2026. Fortuna repurchased 2.2 million shares at an average $9.24 for $20.3 million.
CorporateFortuna Extends High Grade Gold Mineralization at Sunbird, Including 6.1 g/t Au over 18.9 meters, Séguéla Mine, Côte d’Ivoire
Drilling at the Sunbird deposit at the Séguéla Mine in Côte d'Ivoire returned 6.1 g/t Au over an estimated true width of 18.9 meters from 564 meters in SGDD148, 15.4 g/t Au over 4.2 meters from 478 meters in SGRD2473, and 13.0 g/t Au over 4.2 meters from 686 meters in SGDD149. A further 22 holes totaling 9,816 meters were completed after the June 30, 2025 resource cut-off, delineating mineralization about 400 meters beyond existing Mineral Resource and Reserve envelopes. Five rigs are drilling, with work continuing through 2026.
Drill resultsFortuna Expands Mineral Reserve Gold Ounces by 31% and Extends Life of Mine to Over 9 Years at the Séguéla Mine, Côte d'Ivoire
Proven and Probable Mineral Reserves at the Séguéla Mine in Côte d'Ivoire totalled 16.0 million tonnes at 3.01 g/t Au containing 1.54 million ounces of gold as of December 31, 2025, a 31% increase in contained gold versus October 31, 2025, supporting a mine life of over 9 years at the current 1.75 Mtpa mining rate. The increase includes a first-time underground reserve at Sunbird of 3.5 million tonnes at 3.60 g/t Au for 401,000 ounces. A plant expansion study to 2.0–2.5 Mtpa is due in Q2 2026.
Resource update