08:30 AM EDT, 10/15/2025 (MT Newswires) -- Fortuna Mining ( FSM ) was last seen up 2.3% in premarket New York trading after the company Wednesday said a preliminary economic analysis for its Diamba Sud Gold Project in Senegal showed the site can support a US$283.2-million mine producing 106,000 ounces of gold annually over a 8.1-year mine life.

The company said the analysis is based on a gold price of $2,750 per ounce, with an after-tax net present value of $563 million based on a 5% discount rate, an internal rate of return of 72% with an all-in sustaining cost of $904 per ounce.

The company said it is planning for an open-pit mine and a mill on the site and said it has the financial capacity to build the mine, with available liquidity of $537.3 million at the end of the second quarter. A final investment decision is expected in the first half of next year, even as exploration drilling continues.

"Ongoing exploration is advancing with five drill rigs focused on expanding open areas of mineralization and to upgrade the small portion of Inferred Mineral Resources to the Measured and Indicated categories by year-end. With continued exploration success, we expect to enhance Diamba Sud's life of mine production profile beyond a decade," chief executive Jorge Ganoza stated.

The company's shares were last seen up $0.21 to $9.38 in premarket trade. They closed up $0.48 to $12.88 Tuesday on the Toronto Stock Exchange.