Fortuna Mining Acquires 15% Stake in Awalé Resources, Expands West Africa Exploration Portfolio

Published: Jun 12, 2025 21:49

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On June 11st, Fortuna Mining Corp. has acquired 15,037,593 common shares of Awalé Resources Limited, representing a 15% equity stake in the Côte d’Ivoire-focused explorer, through a non-brokered private placement valued at US$6 million.

Awalé’s 100%-owned Odienné Project is seen as a strategic addition to Fortuna’s exploration pipeline. “This investment strengthens Fortuna’s growth platform in Côte d’Ivoire,” said Paul Weedon, SVP Exploration. Fortuna’s in-country team will collaborate with Awalé to advance discoveries toward development.

Under an investor rights agreement, Fortuna gains pre-emptive and top-up rights to maintain its stake, effective as long as it holds at least 10% of Awalé’s shares. An early warning report has been filed on SEDAR+.

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