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Fortuna Metals Ltd (ASX:FUN)

ALERT: Price-sensitive ASX Announcement for FUN
Current share price for FUN : $0.088 -0.03 (-25.11%)+
Announcement
Release
10 Jun 2026 8:25AM
Price at Release
$0.118
Full Release
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Summary
Fortuna Metals Ltd (ASX: FUN) announced significant advancements in their Mkanda Rutile and Graphite Project in Malawi. A major milestone was reached with the production of 66kg of heavy mineral concentrate (HMC) confirming a rutile grade of 1.22% from a bulk sample. The company is conducting a 6,000m hand auger drilling program, which is 40% complete, and plans to start a 5,000m aircore drilling program by the end of June. A maiden inferred resource estimate is expected by late June or early July. These efforts aim to validate the high quality of their rutile product and prepare for its use in high-end aerospace applications. The project is strategically located near Sovereign Metals' Kasiya deposit, known for its suitability for aerospace feedstock. The announcements indicate a busy year ahead with potential repositioning of Fortuna Metals as a leading global supplier of titanium, graphite, and possibly monazite.
Key Points
  • 66kg of HMC produced with a rutile grade of 1.22%
  • 6,000m hand auger drilling program is 40% complete
  • 5,000m aircore drilling program to start in late June
  • Maiden inferred resource estimate expected late June/early July
  • Proximity to Sovereign Metals’ Kasiya deposit for high-end aerospace application
  • Potential repositioning as a key global supplier of titanium, graphite, and monazite
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.