Fortuna Mining Corp
FVIFortuna Silver Mines Inc. engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire. The company was formerly known as Fortuna Ventures Inc. and changed its name to Fortuna Silver Mines Inc. in June 2005. Fortuna Silver Mines Inc. was incorporated in 1990 and is based in Vancouver, Canada.
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Key Information
Legal Entity
Fortuna Mining Corp
Sector
Precious Metal
Founded
January 8, 2007
Employees
4,961
Reporting Currency
USD
Contact Phone
16044844085
Website
www.fortunamining.comHeadquarters Address
1111 Melville Street , Vancouver , BC V6C 3L6 , CA
Identifiers
Commodity Portfolio
Organization
Chart
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Videos
Awalé Resources is Building a New Gold and Copper District in West Africa
Key Highlights
brief- The host lists Fortuna Mining as an Awalé shareholder alongside the new investor PDI Gold, and the guest says Fortuna's interest centres on the project's early-stage resources.
- The guest frames Fortuna and PDI Gold as interested in the same early-stage resource potential and says Awalé will keep pushing exploration across its 100%-owned ground.
PDI Gold's investment funds Awalé's new 71,500-metre Côte d'Ivoire drill program without an equity raise, keeping the treasury healthy. BBM Charger and Empire have moved from targets to deposits inside Awalé's mineral resource estimate, with Fremen a separate discovery. About 127 holes of lab results should flow through year-end, including BBM Charger extension drilling and infill work for feasibility. Awalé says lab backlogs and scarce drill rigs in Côte d'Ivoire decide when assay-backed news reaches investors. Feasibility work, starting with trade-off studies, is pushed into late this year or early 2027.
Scott Casselman of Rackla Metals Inc. presents at Metals Investor Forum in Vancouver | Sep 2026
Tungsten prices have risen roughly tenfold in a year while China supplies about 80% of the metal and North America mines none. Rackla staked the long-dormant Lantung project in the Northwest Territories, where Union Carbide outlined a high-grade open-pit resource in the late 1970s. A pilot magnetic survey has outlined untested targets, and a property-wide airborne magnetic and radiometric survey is now underway. A National Instrument 43-101 resource (Canada's formal mineral estimate standard) is planned for Q2 2027, with 4,000-5,000 metres drilled this season. The past-producing Cantung mine 55 kilometres south keeps its mill and infrastructure intact, offering possible ore-feed synergies under discussions with the receiver.
Sam Leung of Centauri Minerals Inc. talks to Brian Leni | Metals Investor Forum Sept. 2026
Key Highlights
brief- Acquired Goldrock, which held the Lindero project that is now an operating mine in Northern Argentina, per Sam Leung
Centauri Minerals recently debuted on the TSX-V via an Aldebaran spin-out, giving investors a fresh entry to 40,000 hectares across six Northern Argentina gold-copper-silver projects. A desktop resource update at the flagship Rio Grande project roughly doubled contained gold, copper and silver, anchoring a near-C$30M treasury raise. Two rigs mobilize in Q4 2026: one tests shallow oxide gold and copper, the other chases the deep sulfide source beneath historic high-grade intercepts. At the second project, Agua Scolianta, an AMT and IP geophysical program just started using the same crew from Rio Grande's recent 3D MT work. Management plans to keep optionality intact, evaluating unsolicited Argentine prospect deals rather than granting third-party options on pieces of the existing portfolio.
Sam Leung of Centauri Minerals Inc. presents at Metals Investor Forum in Vancouver | Sep 2026
Key Highlights
brief- Fortuna owns the Lindero mine, built only 5 years ago, that sits less than 10 km from Centauri's Rio Grande deposit
- Centauri owns an airstrip between the Rio Grande deposit and the Lindero mine that Fortuna uses under an operating agreement
Centauri Minerals, a newly listed TSX-V spin-out of Aldebaran, brings 40,000 ha of Argentina gold-copper-silver exposure across six projects. Flagship Rio Grande holds a historical 3M oz gold, 800K tonnes copper, and 30M oz silver — and sits 10 km from Fortuna's Lindero mine. The company raised $30M without warrants and reached ~$100M market cap, with a 12,000m drill program starting Q4. Secondary projects Agua Calientes and Frontera offer high-grade gold-silver boulders and 2 kg/t silver trench upside.
Robert Eckford: Why Gold Will Keep Running for Another 5 Years
Key Highlights
brief- Named as the second acquirer in Roxgold's exit chain after Newmont, in a deal Robert describes as over $1B and part of chairman Oliver Lennox King's cumulative near-$3B in exits
Robert Eckford argues gold has another 3-5 years of upside as US deficits persist across parties and central banks keep buying. Central banks are price-agnostic, multi-year gold buyers, and institutions that follow them push equities to catch up to the metal. Rua Gold ran a small PEA early so New Zealand would fast-track a six-month permit for Old Creek inside the Reefton district. A hub-and-spoke plan turns Old Creek into the first mine feeding a central mill, with Glamorgan as high-upside exploration leverage. Roughly $29.5M cash and no warrant overhang let Rua plan $130-150M of project financing and a 2027 Reefton build decision.
Goldgroup Mining ($GORO): Building a Multi-Asset Gold and Silver Producer
Key Highlights
brief- Described as a former concession neighbor of Gold Resource (now Gold Group) that built into roughly a $4 billion company.
Goldgroup's $15M acquisition of Gold Resource Corp added the Don David silver-gold mine, transforming a single-asset producer into a multi-asset Mexican platform. A 26,000-meter drill program at San Francisco targets resource expansion; restart capital is roughly $25M with a target output of about 50,000 ounces a year. Goldgroup is advancing the Back 40 copper-gold project in Michigan but cites an 18-month permitting risk in a Democratic-leaning state. Eric Sprott, Cala, and other insiders control roughly 70% of the float, sharply limiting the risk of a lowball takeover. Forced Russell 2000 selling after a 15-day inclusion window wiped out half the market cap — a mechanical dip that disciplined investors exploited.
Live Q&A with Rick Rule and Steve Barton
Key Highlights
detailed- The speaker has Fortuna at a 4 rating and considers it cheap even after accounting for political risk.
- He was initially skeptical of the pivot from small high-grade South American underground mines to large West African open-pit operations, but credits the Gubnosa family for adapting well.
- He says execution has been superb since the strategy shift.
- He flags that Ivory Coast is still a political-risk jurisdiction and is unsure whether it is qualitatively better than Bolivia or Colombia.
Rising price is not the same as rising value; resource cycles typically run years, so time preference matters as much as entry timing. Focused copper producers like Southern Copper deliver more leverage than diversified majors such as BHP or Rio Tinto treat copper as a side business. Resource category confidence (measured and indicated versus inferred) and on-site infrastructure matter as much as headline ounces when comparing deposits. Royalty and streaming businesses reward patient capital over years; the next big deals will likely syndicate into bite-sized opportunities for tertiary players. Asymmetric exploration bets work only when the loss is affordable, with Rule framing NG Energy as a possible ten-bagger against a 30 to 50% loss.
Adrian Day Reveals His 3 Biggest Mining Positions Right Now
Key Highlights
brief- Day points to mid-tier Fortuna Mining as the type of company likely to buy another operation in West Africa to fill its project pipeline.
- His reasoning is that Fortuna's next mine is due to reach a feasibility study and a production decision by the end of 2026, after which management will be looking for the project after that.
Adrian Day sees gold retesting its lows, possibly toward $3,600, if the Federal Reserve hikes rates before the midterms. Because a rate hike is already priced in, he argues any macro surprise for gold can only resolve in one direction. Headline unemployment understates labour market slack: roughly 11 million people want full-time work but are not counted as unemployed. Altius Minerals, Lara Exploration and Orogen Royalties each exceed 10% of his fund's assets, with cash held ready to buy dips. He expects mid-tier miners, not the majors, to drive the next wave of mining M&A, with Barrick's African assets spun out or sold.
Adrian Day: Sentiment 'Unbelievably Lopsided' for Gold, Still 'Very Undervalued', Silver and Oil
Key Highlights
brief- The guest likes Fortuna's structure: four mines, two in Latin America and two in West Africa, giving project diversification within two concentrated jurisdictions.
Gold's bull-bear sentiment index has collapsed below 10% bullish, a lopsided extreme the guest treats as a classic contrarian buy signal. Bullion pays no income, so the guest values gold only relatively — inflation-adjusted, against global debt and money supply — and finds it cheap. The guest times cycle tops with exponential price moves, media saturation, ETF inflows, physical premiums, and novices handing out gold tips. In mining stocks, people and balance sheets beat geology: back honest, experienced teams with access to money and committed major shareholders. Major gold producers trade at historic-low multiples, and the guest sees value in unloved oil and Asian-facing thermal coal.
Why I'm Bullish on Gold and Silver | Michael Gentile and Jimmy Connor
Key Highlights
brief- Gentile notes Fortuna (Silver Mines) acquired Duroxmoor, which owned Battle North Gold, and counts it among his portfolio graduates.
- He frames Fortuna-style takeouts as the validation of his long-horizon junior mining thesis.
US debt of $40T refinanced at 5% would push interest expense to $2T a year, so the Fed cannot meaningfully raise rates, supporting gold. The pullback from January's $5,500 spike to roughly $4,500 is a healthy shakeout that flushed speculative longs, not a trend reversal. Gold producers currently price in roughly $3,800 gold and trade at deep discounts to NAV, offering outsized upside if spot holds. A wave of mining M&A is coming as net-cash majors with record free cash flow must replace reserves that have been depleted for a decade. Michael Gentile takes 5-20% early stakes in 30-35 micro-cap juniors, aiming for 20-50x returns as few graduates get acquired by majors.
Rua Gold ($RUA | $NZAUF) Investor Webinar: Gold, Antimony, and New Zealand's Mining Renaissance
Key Highlights
brief- Named as the acquirer of Roxgold in the host's recap of the Rua Gold team's track record, which he puts at more than $11 billion in value created.
A preliminary economic assessment (an early-stage mine study) shows Rua Gold's first 200 meters at Old Creek already generate a profitable starter mine. CEO Robert Eckford plans a pre-feasibility study by October, backed by a 20,000-meter drill program that is adding ounces and grade. New Zealand's six-month fast-track permitting drives the rush: the mine application is due 31 October, ahead of a 7 November election. Antimony (a critical metal China restricts) is about 35% of expected revenue and draws Japanese, Korean, and US offtake interest. Eckford warns the deposit stops paying if antimony falls to $15,000 per ton, and Glamorgan's epithermal upside remains undrilled with permits expected in Q2.
RUA Gold ($RUA) CEO Reveals High-Grade Gold, Fast-Track Permits & Near-Term Production Strategy
Key Highlights
brief- The CEO says Rua Gold's chairman founded Roxgold and sold it to Fortuna Mining for $1.5 billion, with the West African mine still operating today.
New Zealand's six-month fast-track permitting lets Rua Gold compress the explorer-to-developer timeline, turning a regulatory edge into faster time-to-value. A Reefton starter mine on roughly 200,000 ounces at 4.5 grams per tonne gold, with high-grade antimony, anchors the near-term production plan. Glamorgan, an undrilled epithermal (a hot-spring vein system that hosts tier-one gold deposits) beside Oceana Gold's WKP discovery, offers binary discovery upside. The antimony byproduct could fund the Reefton mine non-dilutively, with advance off-take discussions underway among governments seeking critical-mineral supply. A C$35 million treasury, 114 million shares out, and a board that has built eight mines support disciplined capital allocation toward production, not perpetual exploration.
Newsletter Favorites Sorted by Quality (April 2026)
Key Highlights
brief- Don Durrett calls Fortuna's team good and the company definitely quality.
- The one issue he raises is size - at about three billion he is not sure it can be a five-bagger.
Durrett ranks the 89 gold and silver stocks he owns on upside, downside risk, and company quality — a system investors can copy. His 'three-five' score marks a likely five-bagger — a stock he expects could multiply roughly five times from current levels. Only four holdings earn an A, reserved for low costs, clean balance sheets, and consistent execution — Australian mid-tier producers dominate the top. Country risk caps otherwise strong names: West African, Mexican, and Colombian exposure keeps ratings below top marks. He flags likely takeover targets among focused developers and producers still generating free cash flow.
Newsletter Favorites Upside (using New GSD Defaults)
Key Highlights
brief- The host says Fortuna carries West African risk but the mid-tier still prints as a seven-bagger.
Raising default price assumptions to $7,000 gold and $200 silver reflects conviction that current metal prices undershoot the macro setup. Screening 90 favorite miners at those prices prints 20-plus-bagger upside for many, but most need three-to-four-year mine builds first. Near-term producers like Guanajuato Silver need no new growth, so they offer immediate leverage if silver reaches $200. A gold-silver ratio squeeze toward 2.5-3% underpins the $175-200 silver target alongside $7,000 gold within 24-36 months. Timeline to getting paid is the key filter: the longer a mine build, the longer investors must wait for the printed upside.
Newsletter Favorites Overview (Feb 2026)
Key Highlights
brief- Don says Fortuna has been a bit of a laggard but has a good management team growing production in West Africa with good drill holes, and Diamba Sud as its next mine looks pretty solid.
- He would like to see it acquire in South or Central America or Mexico to diversify out of Africa, but calls it a solid mid-tier and a borderline 5-bagger.
Durrett argues there is limited time left to buy gold and silver producers while they are still cheap, expecting one more significant dip. His Newsletter Favorites list leans on quality Canadian and Australian mid-tier producers, which he expects to re-rate as the bull market warms up. Companies whose second and third projects get no market value offer free upside — you pay for the first asset and get the rest for nothing. Cheap forward free-cash-flow multiples persist in West Africa and among silver producers, where weak sentiment discounts heavy leverage to metal prices. Australian producers like Ramelius reaching major-sized valuations is, in his view, the first sign the junior gold bull market is broadening.
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