Fortuna Mining Corp. announced positive results from the feasibility study for its Diamba Sud Gold Project in Senegal, confirming an economically robust open-pit gold mine with an after-tax net present value of US$1 billion, an internal rate of return of 60%, and a one-year payback at a US$3,500 per ounce gold price. The 9.4-year life of mine plan projects average annual gold production of 116,000 ounces, with a strong first four years averaging 158,000 ounces per year at an all-in sustaining cost of US$1,056 per ounce. Total initial capital is estimated at US$397.5 million, and the company expects to make a final investment decision upon receipt of the mining permit, targeting first gold by the second quarter of 2028. The study, prepared with independent industry experts, is based on probable mineral reserves of 20.5 million tonnes grading 1.75 grams per tonne gold, containing 1.15 million ounces, and the project retains exploration upside for potential mine life extensions.
Fortuna Silver Mines IncFeasibility study shows strong economics (60% IRR, $1B NPV) for Diamba Sud project, enhancing asset value.