Northwire Canada EditionSunday, July 26, 2026
Sign inSubscribe
Northwire
⌕
B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9% B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9%
Production / Operations

Fortuna hires Lycopodium for Seguela expansion study

By The Northwire Desk — AI Analysis Dec 03, 2025 · 11:13 FVI · 13.60 Fortuna Mining Corp.
FVI · Price

Executive Summary

  • Fortuna Mining Corp. has awarded the Seguela Mine Plant Expansion Options Study to Lycopodium Minerals Canada Ltd. to support growth at its Ivory Coast operations.
  • The study aims to increase processing plant throughput by 15% to 40%, targeting a capacity between 2.0 and 2.5 million tonnes per annum (Mtpa), up from the current 1.75 Mtpa.
  • The expansion supports the potential conversion of Sunbird indicated mineral resources into mineral reserves, with the feasibility study completion planned for Q2 2026.

Key Details

  • Contract Award: Lycopodium Minerals Canada Ltd. selected to undertake the Seguela processing plant expansion options study.
  • Capacity Increase: Study targets increasing throughput from 1.75 Mtpa to between 2.0 and 2.5 Mtpa (15-40% increase).
  • Production Target: Optimization aims to unlock production potential of more than 200,000 ounces of gold per year.
  • Reserve Life: Mine life extended to 7.5 years.
  • Sunbird Resource Conversion: Underground mining study expected to support conversion of up to 3.6 Mt averaging 4.34 g/t containing 502,000 gold ounces of Sunbird indicated resources into mineral reserves; completion expected December 2025.
  • Study Timeline: Study commences immediately with completion targeted for the second quarter of 2026.
  • Strategic Goal: Supports objective of achieving approximately 500,000 ounces of annual gold equivalent production within the next three years.
  • Other Projects: Progress continues at Diamba Sud gold project in Senegal.

Notable Quotes

  • "Initiating the Seguela plant expansion study is a key step in unlocking the next phase of growth for the mine and fully capturing the opportunities created by our exploration success." — Jorge A. Ganoza, President and CEO
  • "Awarding the study to Lycopodium reflects our confidence in their deep understanding of Seguela and their ability to deliver practical, innovative solutions." — Jorge A. Ganoza, President and CEO
  • "Together with continued progress at our Diamba Sud gold project in Senegal, this work advances Fortuna toward our objective of achieving approximately 500,000 ounces of annual gold equivalent production within the next three years." — Jorge A. Ganoza, President and CEO
Read the original news release →

More from Fortuna Mining Corp.

Jul 13, 2026 · 17:00

Fortuna filed the Diamba Sud feasibility study with execution on track, though the upside is already priced in.

Technical Study Jul 09, 2026 · 05:00

Fortuna’s on-track production and $80m q2 buyback were overshadowed by a fatal accident as growth studies advance.

Production / Operations Jun 29, 2026 · 17:15

Diamba Sud DFS confirms sub-$1,100 AISC, though execution delays and Q1 cost misses temper the rally.

Technical Study Jun 15, 2026 · 05:00

Fortuna obtains key environmental approval for Diamba Sud Gold Project in Senegal

Other May 28, 2026 · 05:00

Fortuna's ESG Report Confirms Operational Discipline Amidst Record Cash Flow, But Safety Incident Warrants Vigilance

Production / Operations May 06, 2026 · 21:48

Fortuna Cash Flow Soars on Price Spike as Costs Creep Higher

Earnings