Fortuna Mining Corp

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 impact of higher gold price on royalty payments. As key investments at Segela are completed in Q3 and into Q4 to support our 2026 expanded production of 160,000 to 180,000 ounces of gold, we expect to see all-in sustaining costs in the range of $1,600 to $1,700 per ounce range. Cayoma will finish just outside its guidance range due to relative metal prices used in gold equivalences. As you know, Cayoma has a significant base metal lead sink component to its production. Now turning to growth, for the AMBA suit project in Senegal, continues to advance a pace on a fast track approach. In middle October, we released the preliminary economic assessment for an open pit and conventional carbon in leach plant, confirming strong economics that support our goal of reaching a definitive feasibility study and a construction decision in the first half of 2026. Using a goal price of $2,750, the after-tax internal rate of return of the project is 72%. and the net present value at a 5% discount is $553 million. The mineralization at the Ambasud remains wide open, and we're drilling nonstop with five rigs, expecting to add resources by the time the DFS is published. On October 7th, we filed the environmental and social impact assessment expecting the certificate of acceptance in the first half of next year. Site camp early works are progressing with an approved $17 million phase one budget. And the government is being very supportive, and we have received consent to move ahead with a phase two early works, including the water dam excavations and excavations for other key infrastructure. We plan to fast track front-end engineering design activities during the feasibility work to shorten and de-risk the development timeline by securing long lead equipment areas. The AMBA is a project that can bring additional 150,000 ounces of gold of annual production on average for the first three years of operation. Regarding the business environment in key jurisdictions for us, both Cote d'Ivoire and Argentina held national elections in late October. In Argentina, the government's electoral victory in Congress and Senate strengthened its mandate for advancing structural economic reforms. Argentina's business climate has improved significantly, and we remain optimistic about the country's trajectory. In Cote d'Ivoire, President Alassane Ouattara was re-elected for a fourth term with a decisive majority. We anticipate the continuation of pro-business and pro-investment policies that have made Cote d'Ivoire one of the fastest growing and most resilient economies in West Africa. In summary, Q3 was a strong quarter for Fortuna. Our safety record continues to set new benchmarks. Our operations remain resilient. and our growth projects are advancing according to plan. We enter the final quarter of the year with a solid balance sheet, strong cash generation, and a clear path of near to mid-term organic growth driven by Dian Basud and Segele Expanded Gold Out. I'll now hand the call over to David Will, our Chief Operating Officer for West Africa, and Cesar Velasco, Chief Operating Officer for LATAM, who will review their respective operational results. We can start with you, David.

Thank you, Jorge. Segala achieved another impressive quarter, delivering excellent results in both production and safety. This positions Segala well to exceed upper production guidance for 2025, with gold output now projected to surpass 150,000 ounces. Our dedication to safety and environmental excellence remains steadfast, and we are making steady progress toward our goal of zero harm across all our operations. I'm pleased to report that no injuries occurred at any of our West African locations during the quarter. At Segala, we produced 38,799 ounces of gold, maintaining consistency with prior quarters and surpassing the mine plan. Mining during the quarter totaled 272,000 tons of ore at an average grade of 3.66 grams per tonne gold, along with 4.43 million tons of waste, resulting in a strip ratio of 16.3 to 1. The processing plant treated 435,000 tons at an average grade of 3.01 grams per tonne gold, with throughput averaging 208 tons per hour for the quarter. All was primarily sourced from the Antenna, Ancien, and Cooler pits. During the quarter, we received permitting approvals for five satellite pits, including the Sunbird, Kingfisher, and Badiour open pits. Several major projects also advanced successfully over the third quarter. The 8.5 million TSF lift was completed, providing tailing storage and current throughputs until late 2029. The replacement of the transmission tower at the Sunbird Pit, a $9 million project, progressed well, and we are now prepared to commence pre-mining operations for the Sunbird Pit in Q4. The rock breaker at the primary crusher was commissioned, and is operating effectively, further debottlenecking the processing circuit, and the six-megawatt solar plant project is expected to be complete in the first quarter of 2026, which will help to reduce power costs. Segala's performance resulted in a cash cost of $688 per ounce and an all-in sustaining cost of $1,738 per ounce, both aligning with our budget. Site costs continue to be managed efficiently, with the increased all-in sustaining costs primarily attributed to royalties on the higher gold price. Exploration drilling at the Sunbird Underground project continued in the third quarter with encouraging results. The ongoing success of this drilling, combined with results from the Kingfisher deposit provides us with a resource base that offers further opportunities to optimize production from Sagala. Whilst current process plant throughputs have focused on maximizing available capacity with minimal investment, we're now investigating options to further enhance process plant throughputs. Drilling is continuing with five drill rigs at the Sunbird underground deposit in Q4, aiming to further expand the underground resource Engineering studies and permitting activities will continue in Q4 and 2026 with the expectation of commencing underground mining operations in 2027. The Kingfisher deposit remains open in all directions and further drilling will be undertaken in 2026 to convert incurred resources to indicated status and further expand the risk At our D'Amba Sud project in Senegal, exploration, environmental permitting, and feasibility activities made significant progress during the quarter. Government approvals were received for early works programs, the ESIA was submitted for approval, and the PEA was published. Following the rainy season, drill rigs have been remobilized for further drilling at the Southern Arc deposit at D'Amba with the aim of enhancing the resource base and building on the strong PAI results. Thank you, and back to you, Jorge.

Thank you, David. Cesar?