Fortuna Mining Corp. reported $85.7 million in free cash flow from ongoing operations and $200.8 million in adjusted EBITDA for the second quarter of 2026. The company produced 72,217 gold equivalent ounces during the period and finished the quarter with a net cash position of $435 million and total liquidity of $756.7 million.

“Fortuna delivered another strong quarter of production, generating $85.7 million of free cash flow from ongoing operations and $200.8 million in adjusted EBITDA, with a robust EBITDA margin of 63%.”

“We also achieved key milestones for our organic growth projects with the delivery of the Diamba Sud Feasibility Study and a construction decision for the Séguéla Plant Expansion. Combined, these two projects will grow our production by 60% to over 500,000 ounces per year.”

— Jorge Ganoza, President and CEO

Consolidated all-in sustaining costs (AISC) for the second quarter were $2,157 per gold equivalent ounce. Management noted that this figure is expected to be the peak for the year, with costs trending down in the second half as key capital projects at the Lindero mine in Argentina reach completion. The second-quarter AISC included a $49 impact from external factors and approximately $115 related to one-time operational items, such as a primary crusher refurbishment at Lindero and mobilization costs for an additional mining contractor at the Séguéla mine in Côte d’Ivoire.

The company also returned $82.1 million to shareholders during the quarter via the repurchase of 10.8 million shares, bringing total year-to-date returns to $106.6 million.

Operational results varied across the company’s three mines:

• Séguéla (Côte d’Ivoire): The operation processed 421,464 tonnes of ore at an average head grade of 3.46 g/t, producing 41,683 ounces of gold. Cash costs per gold ounce sold were $676. Management has approved the Séguéla Plant Expansion to increase the facility's capacity.
• Lindero (Argentina): The mine produced 20,829 gold ounces, with 1,558,750 tonnes placed on the leach pad at an average grade of 0.64 g/t. Production was lower than in the comparable period of 2025 due to a planned 30-day shutdown of the primary crusher to replace steel foundations. Cash costs per gold ounce sold were $1,459.
• Caylloma (Peru): The operation produced 231,294 ounces of silver, alongside 7.8 million pounds of lead and 12.0 million pounds of zinc. Cash costs per silver equivalent ounce sold were $27.77. Construction of the tailings storage facility No. 3 expansion is currently 28% complete.

Looking ahead, Fortuna is focused on advancing the construction of the Diamba Sud gold project in Senegal, which follows the delivery of a feasibility study, and executing the Séguéla mine expansion to increase annual gold production. Additionally, effective September 1, 2026, Luis Dario Ganoza will transition to the role of President, and Kevin O’Reilly will become the Chief Financial Officer.

Read the full announcement: Fortuna Reports Results for the Second Quarter 2026