Fortuna Mining Corp. reports operating and financial developments for a Canadian precious metals miner that produces gold and silver from three operating mines and a portfolio of exploration projects.
Recurring updates include quarterly production in gold-equivalent ounces, cash costs and all-in sustaining costs, cash flow, liquidity, safety performance and capital actions through normal course issuer bid activity. Company news also covers Mineral Reserve and Mineral Resource estimates, drilling at deposits such as Sunbird at Séguéla, exploration projects including Diamba Sud in Senegal, project agreements in the Guyana Shield, annual reporting and MD&A releases.
Fortuna Mining (NYSE: FSM; TSX: FVI) received a Notice of Admissibility for its Diamba Sud Exploitation Permit application in Senegal. The notice confirms completion of the documentation review and compliance with regulatory requirements; it is not the final permit. Fortuna expects the Government’s internal approval process to finish in Q4 2026. Environmental approval is already in place.
Fortuna is advancing early works and equipment commitments toward targeted first gold in mid-2028. Full construction requires the permit, Board approval of a final investment decision and local construction approvals. Plant detailed engineering is 15% complete. Together with the Séguéla expansion, Diamba Sud underpins Fortuna’s target of approximately 60% growth in annual gold production to an annualized 500,000 ounces from mid-2028. A proposed Mining Convention includes a ten-year fiscal stability framework but awaits finalization and Government approvals.
Fortuna Mining (NYSE: FSM; TSX: FVI) reported first drilling results from the Kabewest prospect at its Bambadji Project in Senegal. Hole FBRC0008 returned 1.9 grams of gold per tonne over an estimated true width of 64 meters from 19 meters. Mineralization has been intersected over more than 600 meters of strike and remains open along strike and at depth. Kabewest is approximately 2.3 kilometers from the proposed Diamba Sud plant site.
The initial program completed 45 holes totaling 10,524 meters, part of a planned $8 million, 51,000-meter Bambadji drilling program through the end of 2026. Approximately 70 percent of assays have been received. Fortuna expects an initial Inferred Mineral Resource estimate in the first quarter of 2027, subject to completion and review of remaining technical work. Six rigs have moved to Wari and Latifa, with three testing each prospect.
Fortuna Mining (NYSE: FSM) will release its third-quarter 2026 financial results after market close on November 4, 2026.
The release will include financial statements and management’s discussion and analysis. A conference call to discuss financial and operational results is scheduled for November 5, 2026, at 12:00 p.m. Eastern time, hosted by the CEO, CFO and regional chief operating officers.
Fortuna Mining (NYSE: FSM; TSX: FVI) reported drilling results extending gold mineralization below the current reserve pit design at Lindero in Argentina. Hole LDH-272 returned 0.96 grams of gold per tonne over 350 meters drilled from surface, including 98 meters averaging 0.91 grams per tonne below the pit design. LDH-259 returned 0.85 grams per tonne over 236 meters, including 94 meters averaging 0.66 grams per tonne below the design.
The program completed 31 holes totaling 8,534 meters. Fortuna targets an updated block model and pit design by year-end to support a revised mine plan. Updated Mineral Resource and Mineral Reserve estimates are planned for release in the first quarter of 2027. The mineralized zone remains open at depth.
Fortuna Mining (FSM) reported new gold drilling results at Diamba Sud in Senegal and began drilling at the adjacent Bambadji project.
Southern Arc hole DSR1128 returned 7.8 grams of gold per tonne over an estimated true width of 12.8 meters from 103 meters. Hole DSR1149 returned 3.9 grams per tonne over an estimated true width of 40.8 meters from 228 meters. Completed drilling identified extensions beyond current pit designs. Kassasoko drilling also found mineralization that remains open at depth and along strike.
At Bambadji, six rigs are operating in an $8 million, 51,000-meter exploration program for the balance of 2026. Kabewest assay results are pending. Fortuna expects an initial Kabewest inferred resource estimate in its annual update planned for the first quarter of 2027.
Fortuna Mining (NYSE: FSM; TSX: FVI) reported third-quarter 2026 production of 69,665 gold equivalent ounces across its three operating mines. This compares with 72,217 ounces in Q2 2026 and 72,462 in Q3 2025, using different metal-price assumptions. Nine-month production reached 214,754 ounces; Fortuna remains on track for annual guidance of 281,000–305,000 ounces.
The board approved a $109 million, 30% Séguéla plant expansion, supporting a target above 200,000 gold ounces annually from H2 2028. Séguéla output fell to 33,744 gold ounces, while Lindero output rose 25% quarter over quarter to 26,024 ounces. Fortuna expects Caylloma to exceed annual guidance. It acquired the adjacent 190 km² Bambadji exploration project; Diamba Sud's investment decision remains targeted for Q4, with tax stability negotiations ongoing. Sunbird's environmental assessment was approved, but final permitting remains expected in Q4 2026.
Fortuna Mining (FSM) CEO Jorge A. Ganoza will present at Mining Forum Americas 2026 on September 28.
The presentation is scheduled for 11:00 a.m. MDT (1:00 p.m. ET) at The Broadmoor in Colorado Springs, Colorado. A live webcast will be available at https://mf.live/?play4616, with a replay at the same link afterward.
Fortuna Mining (NYSE: FSM) announced the acquisition of the 190 km² Bambadji advanced gold exploration project in Senegal from subsidiaries of Barrick and IAMGOLD for US$200 million in cash. The project lies adjacent to Fortuna’s feasibility-stage Diamba Sud Gold Project, consolidating roughly 60 km of strike along the Senegal-Mali Shear Zone.
The transaction includes an extensive historical dataset with about 214,000 meters of drilling and multiple drill-defined prospects. Fortuna granted the sellers a 0.5% net smelter return royalty on the first 1.75 million ounces of gold from Bambadji Nord. For 2026, Fortuna approved an initial US$8 million exploration program totaling 51,000 meters of drilling, expected to start in Q3 and focus on eight priority targets within 20 km of the proposed Diamba Sud plant site.
Fortuna (NYSE: FSM) reported Q2 2026 sales of $318.4 million, up 38% from Q2 2025, gold‑equivalent production from continuing operations of 72,217 ounces, and adjusted EBITDA of $200.8 million with a 63% margin. Adjusted attributable net income from continuing operations was $75.5 million or $0.25 per share, up from $42.6 million a year earlier but down from $111.0 million in Q1 2026 as realized gold prices, effective tax rate and unit costs moved unfavorably quarter over quarter.
Free cash flow from ongoing operations reached $85.7 million, liquidity stood at $756.7 million, and cash plus short‑term investments totaled $606.7 million. Fortuna advanced its growth pipeline with a positive feasibility study for the Diamba Sud gold project and a construction decision on a 30% Séguéla plant expansion, while returning $82.1 million in Q2 (and $106.6 million year‑to‑date) via repurchases of 10.8 million shares.
Fortuna Mining (NYSE: FSM) approved a 30% expansion of the Séguéla Gold Mine in Côte d’Ivoire, increasing processing capacity from 1.75 Mtpa to approximately 2.3 Mtpa. The project includes processing plant upgrades, supporting infrastructure enhancements, and development of the Sunbird underground mine.
According to Fortuna, the expansion is expected to lift average gold recovery to about 94.5% and support average annual production of more than 200,000 ounces over the next decade. Estimated construction capital is $109 million, funded from operating cash flow and supported by approximately $800 million in liquidity at the end of Q1 2026. The company targets construction start in H2 2026, underground mining at Sunbird in Q2 2027, and ramp-up to expanded throughput in H2 2028.