Fortuna Mining, a Vancouver-based precious-metal producer, has announced results from its feasibility study (FS) for its Diamba Sud gold project in southeastern Senegal.
The results, which the company described as positive, showed an after-tax internal rate of return (IRR) of 60% and a net present value (NPV) of US$1 billion, based on a 5% discount rate. The payback period is one year at a gold price of US$3,500 per ounce. Updated to a gold price of US$4,000 per ounce, the NPV increased to US$1.3 billion, with an IRR of 72% and an 11-month payback period.
Fortuna said the FS improves upon its previous 2025 preliminary economic assessment (PEA) in a number of key areas, including a higher production profile, longer mine life and improved metallurgical performance.
Jorge A. Ganoza, the president and CEO of Fortuna, called Diamba Sud a “standout growth project with high returns.” He added that the FS supports the company’s plan to “grow our annual gold production rate by approximately 60% to more than 500,000 ounces in 2028.”
The FS also incorporated planned on-site construction of office buildings and access roads.
Diamba Sud is a gold exploration project in Senegal’s Kédougou Region, operated by Fortuna’s Boya S.A. The state is set to assume a 10% stake in the project soon.
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