Fortuna Mining Corp. announced the results of a robust Preliminary Economic Assessment (PEA) for its Diamba Sud Gold Project in Senegal, outlining strong economics for an open-pit mine and conventional carbon-in-leach processing plant. The PEA, based on a gold price of $2,750 per ounce, projects an after-tax NPV 5% of $563 million and an impressive Internal Rate of Return (IRR) of 72 percent, with a rapid payback period of just ten months.
The project is projected to deliver an average of 147,000 ounces of gold per year during its first three years of production, with an All-In Sustaining Cost (AISC) of $904 per ounce. The estimated construction capital cost is approximately $283.2 million. Fortuna's strong balance sheet, with $537.3 million in liquidity and $214.8 million in net cash as of Q2 2025, de-risks the project's funding.
The PEA is based on the updated Mineral Resource estimate as of July 7, 2025, comprising 724,000 ounces of Indicated and 285,000 ounces of Inferred gold. Fortuna has approved a $17 million budget for early construction works and detailed engineering, targeting a construction decision in the first half of 2026 and first gold pour in the second quarter of 2028. Ongoing exploration aims to further enhance the project's life of mine production profile beyond a decade.
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