Fortuna Mining Cashes In on Record Gold Prices with Strong Q2 Results
Fortuna Mining delivered one of its strongest quarters on record in the three months ended June 2026, thanks to elevated gold prices and strong performance from its West African flagship Séguéla mine. The company's adjusted EBITDA reached $200.8 million, representing a 63% margin - an unusually strong conversion rate for a mid-tier gold producer.
The Vancouver-headquartered miner used the windfall to fund an aggressive shareholder-return program while greenlighting a major mine expansion and advancing a new development project with standout projected returns. The Séguéla processing plant is set to be expanded by 30%, which should extend mine life and boost throughput at the operation generating the bulk of current cash flow.
The Diamba Sud project, also in West Africa, delivered a positive feasibility study with a 60% internal rate of return and a $1 billion net present value. Fortuna's balance sheet was strengthened materially during the quarter, with net liquidity reaching $756.7 million, including $606.7 million in cash and short-term investments.