Does Fortuna Mining (TSX:FVI) Seek Diamba Sud Permit to Reframe Its Long-Term Project Pipeline?

• Fortuna Mining Corp. recently submitted an application for an exploitation permit for the Diamba Sud Gold Project to Senegal’s Ministry of Energy, Petroleum, and Mines, while advancing early works and detailed engineering to support its feasibility study.
• An updated Mineral Resource estimate for Diamba Sud, expected by the end of the month, could be a key input into a potential construction decision targeted for mid-2026.
• We’ll now look at how Fortuna’s exploitation permit application at Diamba Sud shapes the company’s investment narrative and project development trajectory.

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What Is Fortuna Mining’s Investment Narrative?

To own Fortuna Mining today, you have to believe the company can convert its existing asset base and disciplined balance sheet into durable cash generation, while managing the inherent volatility of precious metals. The Diamba Sud exploitation permit application fits squarely into that story: it moves the project a step closer to potential production, but it also heightens near term permitting and execution risk around a development decision that management is eyeing for around mid 2026. With the share price already up strongly over the past year and trading at a discount to consensus targets, the most important short term catalysts now look tied to the updated Mineral Resource estimate, clarity on the feasibility study, and how capital is allocated between growth and buybacks. If the permit process slows or the new resource underwhelms, that narrative could quickly be tested.

However, investors should also weigh how permitting or project delays at Diamba Sud could affect Fortuna’s growth path.

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Exploring Other Perspectives

The Simply Wall St Community’s six fair value estimates for Fortuna stretch from about CA$8.86 to CA$113.77, underscoring how differently private investors view its prospects. Set against the permit application at Diamba Sud and the increased project risk it introduces, this spread gives you a useful cross check on how assumptions about development success might shape Fortuna’s longer term performance.

Explore 6 other fair value estimates on Fortuna Mining – why the stock might be worth over 7x more than the current price!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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