Fortuna Mining Corp. reported that its flagship Séguéla gold mine in Côte d’Ivoire now holds 1.54 million ounces of proven and probable reserves, a 31 % jump from the 1.20 million ounces recorded as of October 31 2025. The update, based on data as of December 31 2025, incorporates 401,000 ounces from underground mining at the Sunbird deposit and extends the mine’s life beyond nine years at current production rates.
The reserve growth follows extensive drilling conducted in the second half of 2025, which has not yet been fully integrated into the resource model. The Sunbird deposit, characterized by higher grade mineralization, provided the bulk of the new reserves, underscoring the success of Fortuna’s exploration strategy and the viability of underground mining at the site.
Fortuna is also advancing a throughput study that will evaluate expanding the existing 1.75 Mtpa processing plant to 2.0–2.5 Mtpa. The study is slated for completion in the second quarter of 2026 and could lift annual gold production beyond 200,000 ounces. CEO Jorge A. Ganoza said the reserve upside “builds on our track record of resource and reserve growth” and that the plant expansion “has the potential to increase annual gold production to more than 200,000 ounces.”
Strategically, the reserve expansion reinforces Fortuna’s focus on high‑margin gold assets and strengthens the production base of its flagship mine. The company’s 2026 production guidance of 160,000–180,000 ounces aligns with the current mine life and supports its long‑term goal of reaching 500,000 ounces annually by the early 2030s. The update also enhances long‑term cash‑flow generation and provides a clearer framework for future capital allocation decisions.
The announcement signals robust execution and positions Fortuna to capitalize on a growing resource base while maintaining low all‑in sustaining costs. By extending mine life and preparing for a potential throughput increase, Fortuna is setting the stage for sustained growth and improved financial performance in the coming years.
The reserve update, coupled with the planned plant expansion, demonstrates Fortuna’s commitment to delivering value through disciplined exploration, efficient operations, and strategic investment in its core assets.
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