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Fortuna Mining (FSM) Reports 15% Increase in Mineral Reserves

Fortuna Mining Corp. (NYSE:FSM) is one of the 15 Best Precious Metal Stocks to Buy According to Wall Street Analysts.

On April 23, 2026, Fortuna Mining Corp. (NYSE:FSM) provided updated consolidated mineral reserve and mineral resource estimates for its operating mines and development projects in West Africa and Latin America. The company said mineral reserves increased 15% year over year after accounting for production-related depletion. At its Séguéla Mine project, updated estimates as of March 31, 2026, showed a 34% increase in underground mineral reserves and a 55% increase in inferred mineral resources at the Sunbird deposit following infill and exploration drilling completed in the second half of 2025.

On April 20, 2026, Fortuna announced an earn-in agreement with Qstone, a private company in Guyana, that could give it up to a 70% stake in the Quartzstone Project, a 29,600-hectare land package in north-central Guyana. The project includes multiple zones of high-grade near-surface gold mineralization identified through prior drilling. Fortuna’s initial $5.5M exploration program includes airborne magnetic surveys, geochemical sampling, geological mapping, and an initial 5,000-meter drilling campaign. The company can earn an initial 51% stake by completing at least 60,000 meters of drilling over four years, with an option to increase its interest to 70% by funding a feasibility study. Upon signing the agreement, Fortuna paid Qstone a non-refundable $5M option premium.

Pixabay/Public Domain

On April 9, 2026, Fortuna reported first-quarter production of 72,872 gold-equivalent ounces from its three operating mines in West Africa and Latin America, up from 70,386 ounces in the prior-year period and 65,130 ounces in Q4 2025. The company also reaffirmed its full-year 2026 production guidance of 281,000 to 305,000 gold-equivalent ounces.

Fortuna Mining Corp. (NYSE:FSM) operates mining assets in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal.

While we acknowledge the risk and potential of FSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FSM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

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