Fortuna's Diamba Sud Gold Project boasts $1B NPV, 60% IRR in robust Feasibility Study
FSM sits 36% above its 52-week low of $6.17.
Summary
Fortuna Mining announced a robust feasibility study for its Diamba Sud Gold Project in Senegal, revealing an after-tax NPV5% of $1 billion and an impressive 60% IRR at $3,500/oz gold. This follows the environmental approval received on June 15th, marking a critical step towards development. The project, with an initial capital of $397.5 million, is projected to produce an average of 158,000 ounces annually in its first four years at a low all-in sustaining cost of $1,056/oz. This highly material project represents a significant portion of Fortuna's market value and is key to its plan to boost annual gold production by 60% to over 500,000 ounces by 2028. A final investment decision is anticipated upon receipt of the mining permit, targeting first gold by Q2 2028.
At the time of this announcement, FSM was trading at $8.37 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $6.17 to $13.85. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.