Fortuna Mining Corp (FSM) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

As a result, our liquidity position at the end of the quarter stands at a solid $588 million, with a growing net cash position of $266 million. This enables us to accelerate our pursuit of multiple high-value opportunities in the asset portfolio across different stages of the project lifecycle. In Cote d'Ivoire, at Seguela, our flagship mine, We are expanding the life of mine and boosting annual gold output through exploration success at the Sandberg and Kingfisher deposits. In Senegal, our pre-development stage, the AMBASUD project boasts strong economics, advancing towards a construction decision in the first half of next year. In Salta, Argentina, We're excited to drill for gold at one of the largest untested high-level epithermal anomalies in the north of the country. The Cerro Lindo project, held privately for years, now offers us an exciting exploration opportunity. Our strategic investments announced this year in Awale Resources and JV with Desoto Resources position us with exciting gold prospects on both the Ivorian and Guinean sides of the prolific Sigiri Bay Basin, which straddles these two countries. And we continue advancing a pipeline of early stage projects in Mexico, Peru, and Cote d'Ivoire. Our consolidated cash costs remain below $1,000 per ounce, and all in sustaining costs at our mines is tracking within guidance. Lindero's all-in sustaining cost has been trending lower every quarter to the current $1,500 per ounce range, where we expect it will stabilize. At Seguela, the story is inverse. We expect to complete the year on the upper end of guidance, but we're coming from a low all-in sustaining cost of $1,290 in the first quarter of the year to the current $1,738 in the third quarter. This is driven mainly by timing of capital investments and the i...