Why Fortuna Paid US$200m to Consolidate Senegal Gold Ground

Fortuna’s Bambadji acquisition

The Bambadji Project sits alongside the eastern margin of Fortuna’s Diamba Sud Gold Project, which holds mineral reserves estimated at around 1.5 million ounces of gold.

Fortuna has purchased the two Bambadji properties that cover 190 square kilometres and 60 kilometres of prospective strike.

Connection between the company’s two projects comes through established secondary roads.

Following the acquisition, Fortuna has approved an initial US$8m exploration budget at Bambadji for the remaining months of 2026.

This will see 51,000 metres of reverse circulation and diamond drilling, which is expected to begin during this year.

There is an extensive historical dataset at Bambadji, holding around 214,000 metres of prior drilling and at least eight drill-defined prospects.

Fortuna is expecting to improve confidence across targets within a 20-kilometre radius of the Diamba site.

As a further incentive for sellers, Fortuna has granted a 0.5% net smelter return royalty on the first 1.75 million ounces of gold produced from the Bambadji project.