Project UpdateJun 29, 2026, 05:16 PM
Fortuna Mining Diamba Sud FS: After-tax NPV5% $1B, IRR 60%
AI Summary
Fortuna Mining announced positive feasibility study results for its Diamba Sud Gold Project in Senegal, confirming an economically robust open-pit mine. The study projects an after-tax NPV5% of $1 billion and an IRR of 60% at $3,500/oz gold, with a 1-year payback period. The project is expected to be Fortuna's lowest-cost mine, contributing to a 60% increase in annual gold production by 2028, with first gold targeted by Q2 2028.
Key Highlights
- Diamba Sud Gold Project after-tax NPV5% of $1 billion at $3,500/oz gold.
- Internal Rate of Return (IRR) of 60% with a 1-year payback period.
- Average annual gold production of 158,000 ounces for the first 4 years.
- Life of Mine (LOM) average annual gold production of 116,000 ounces over 9.4 years.
- Average All-in Sustaining Cost (AISC) of $1,056/oz for the first 4 years.
- Total initial capital expenditure estimated at $397.5 million.
- First gold production targeted by Q2 2028.
- Environmental decree received; final investment decision pending mining permit.
Price Impact
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