Name of the Project
Diamba Sud gold project.

Location
Senegal.

Project Owner/s
Canada-based Fortuna Mining.

Project Description
A preliminary economic assessment (PEA) has confirmed a strong economic case for developing an openpit gold mine drawing ore from several deposits – including Area A, Area D, Karakara, Western Splay, Kassassoko, Moungoundi and Southern Arc – to supply a central processing plant over the current 8.1-year mine life.

Initial processing at 2.5-million tonnes a year during the first three years, underpinned by the high oxide content at Area D, then stabilises at two-million tonnes a year from the fourth year.

Standard openpit methods will be used, with drilling and blasting for oxide and fresh ore, followed by truck-and-shovel operations to move ore and waste within the pits.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PEA outlines pretax net present value, using a 5% discount rate, of $772-million and an internal rate of return of 86%, with capital payback in eight months.

Capital Expenditure
Construction capital is estimated at about $283.2-million.

Planned Start/End Date
A definitive feasibility study is expected to be completed by the end of the second quarter of 2026, with a construction decision soon thereafter. If approved, Diamba Sud would pour its first gold in the second quarter of 2028.

Latest Developments
Fortuna has allocated an additional $17-million to fast-track early work planning and permitting, and initial construction, to provide site access and build a new accommodation camp. Pending board approval, front-end engineering and design are expected to begin in the fourth quarter of 2025, with long-lead item procurement in the second quarter of 2026 to prepare for project execution.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Fortuna Mining, email info@fmcmining.com.