Fortuna doubles indicated ounces at Séguéla

Fortuna Mining (TSX: FVI; NYSE: FSM) has actually reported greater books and sources at its Séguéla cash cow in Côte d’Ivoire, expanding the procedure’s overview and motivating fresh research studies on mine development.

The current price quote stands for an 11% boost in had book ounces, an increasing of suggested sources and a 15% increase in presumed ounces compared to a December 2024 source.

The Séguéla mine currently organizes tested and potential mineral books of 13 million tonnes rating 2.81 grams gold per tonne for 1.2 million oz. had steel, according to a Nov. 18 statement. Gauged and suggested mineral sources, omitting books, overall 6 million tonnes rating 4.12 grams gold for 794,000 oz., while presumed sources stand at 8.8 million tonnes balancing 2.52 grams for 712,000 ounces.

7.5 years

With the brand-new source offering Séguéla a 7.5-year life of mine and its biggest mineral source to day, Fortuna has actually begun “hostile” infill exploration, and research studies on below ground mining and to increase plant ability by regarding 25% to 2-2.5 million tonnes a year compared to the yearly 1.25 million tonnes Séguéla was appointed at in 2023.

” Séguéla remains to run over nameplate, and continuous low-capital optimizations are prepared for to help with throughput of 1.75 million tonnes in 2026,” BMO Funding Markets mining expert Kevin O’Halloran claimed in a note on Wednesday.

” The broadened source base currently gives presence on a prolonged mine life, validating financial investment in broadening plant ability. Technical research studies are underway and anticipated to be full in the 2nd quarter of 2026.”

Exploration program

” Proceeded expedition success over the last 2 years has actually developed a clear path to not just prolong the life of mine at Séguéla, however likewise to review a more plant development and a prospective boost in yearly gold manufacturing,” head of state and chief executive officer Jorge A. Ganoza claimed in the launch.

Ganoza included that continuous exploration and fieldwork via 2026 would certainly assist the business “unlock more worth” throughout what he called a powerful land bundle at Séguéla.

Shares in Fortuna Mining obtained 3.1% to shut C$ 11.97 each on Wednesday, where they went to mid-Thursday, valuing the business at C$ 3.7 billion. The supply has actually acquired 82% this year as near-record bullion rates enhance manufacturers.

Last month, the business claimed expedition boring boosted the probabilities of broadening below ground to the Sunbird down payment.

The Kingfisher and Sunbird areas are the biggest factors to today’s broadened source, with mineralization staying open at both down payments. Kingfisher went into books for the very first time with 3.5 million tonnes rating 2.28 grams gold for 257,000 ounces.

Sunbird

The Sunbird below ground task holds 3.6 million tonnes at 4.34 grams for 502,000 oz. in suggested sources that might be transformed to books after a below ground mining research study due following month.

A year previously, Séguéla had 9.8 million tonnes rating 3.37 grams gold for regarding 1 million oz. in tested and potential books. Shown sources, omitting books, were 2.7 million tonnes rating 4.54 grams for 397,000 oz., and presumed sources were 6.8 million tonnes rating 2.83 grams for 619,000 oz.

In the 3 months to Sept. 30, Fortuna created 38,799 oz. gold from Séguéla, 24,417 oz. gold from the Lindero mine in Argentina and 9,246 gold-equivalent oz. from the Caylloma mine in Peru for an overall of 72,462 gold-equivalent ounces. The business states it stays on the right track to satisfy its 2025 projection of 309,000 to 339,000 gold-equivalent ounces.