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Fortuna Metals Ltd (ASX:FUN)

ALERT: Price-sensitive ASX Announcement for FUN
Current share price for FUN : $0.091 -0.001 (-1.09%)+
Announcement
Release
2 Jul 2026 8:24AM
Price at Release
$0.092
Full Release
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Summary
Fortuna Metals Ltd announced the successful production of a high-quality rutile product with over 96% TiO2 from its Mkanda project in Malawi. This achievement was a result of initial bulk metallurgical test work performed in Johannesburg. The company is now looking to engage potential customers to assess the suitability of the rutile for various applications. The Mkanda project spans 658 km² and has undergone significant exploratory work, including a major infill drill program. Further test work, particularly on graphite flotation, is planned for later in 2026, with final metallurgical reports due by July.
Key Points
  • Fortuna Metals Ltd achieved a high-quality rutile product with over 96% TiO2.
  • The initial bulk metallurgical test work was conducted in Johannesburg.
  • Fortuna Metals plans to engage potential customers to verify the suitability of Mkanda's rutile for downstream applications.
  • The Mkanda project is located in Malawi, covering an area of 658 km².
  • The company completed a major infill drill program with 1,323 hand auger drill holes.
  • Further graphite flotation test work is planned for Q3 2026.
  • Final metallurgical reports and results are expected to be completed in July.
  • The project includes ongoing analysis of monazite, zircon, and graphite.
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.