Fortuna expands Indicated Mineral Resource by 73% to 1.25 million gold ounces, Diamba Sud Project, Senegal
Fortuna Mining pivots to West African growth as record cash flows de-risk Senegal development.
The primary news release (February 19, 2026) reports a 73% expansion of Indicated Mineral Resources at the Diamba Sud Gold Project in Senegal, now totaling 1.25 million ounces of gold. This follows the February 18, 2026, earnings report showing record annual free cash flow of $330 million for 2025 and a net cash position of $381.5 million. The resource update at Diamba Sud converts a significant portion of previously Inferred mineralization into the Indicated category (94% of total resources are now Indicated), providing the geological confidence necessary for the upcoming Feasibility Study (FS) targeted for completion by the end of Q2 2026.
Fortuna Mining is a mid-tier precious metals producer that has successfully pivoted its core production from Latin American silver to West African gold. - Flagship Project: Séguéla Mine (Côte d’Ivoire). This is a high-grade, low-cost open-pit operation that has consistently exceeded design capacity. - Primary Growth Project: Diamba Sud (Senegal). A high-IRR project (72% at $2,750 gold) that is expected to reach production in 2028. - Assets: Lindero (Argentina - gold), Caylloma (Peru - silver/base metals), and Diamba Sud (Senegal - development).