Fortuna Mining Corp. (NYSE:FSM) achieved its full-year 2025 production targets, delivering 317,001 gold equivalent ounces (GEO) and meeting its consolidated guidance range of 309,000 to 339,000 ounces.
The results were headlined by a standout performance at the Séguéla mine in Côte d'Ivoire, which produced a record 152,426 ounces of gold, surpassing the upper end of its annual guidance by approximately 4%.
The company’s ongoing operations contributed 279,207 GEO to the total.
While Séguéla reached new heights, the Lindero mine in Argentina produced 87,489 ounces, falling short of expectations due to mechanical downtime in the crushing circuit and High Pressure Grinding Roller (HPGR) during the fourth quarter.
Fortuna has scheduled a 30-day foundation replacement and additional repairs at Lindero for 2026, with an estimated cost of $2.2 million.
Looking ahead, Fortuna issued 2026 consolidated guidance of 281,000 to 305,000 GEO, with an all-in sustaining cost (AISC) projected between $1,830 and $1,975 per ounce.
The 2026 outlook reflects a transition toward higher-margin ounces as the company continues to streamline its portfolio following the divestiture of the San Jose and Yaramoko mines earlier in 2025.
Fortuna enters the new year with significant financial flexibility, reporting estimated liquidity of $704 million and a net cash position of $382 million as of December 31, 2025.
A primary focus for the coming year is the Diamba Sud gold project in Senegal.
The company has budgeted approximately $100 million for the asset as it moves toward a definitive construction decision targeted for mid-2026.