Advertisement – On behalf of Fortuna Mining Corp. and Osisko Gold Group Inc. SRC swiss resource capital AG has paid investor relations consulting agreements with both companies. Prepared by: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: November 12, 2026, 5:32 a.m., Berlin/Zurich ·
Dear Readers,
According to the World Gold Council, the average gold price in the third quarter of 2026 stood at $4,262 per troy ounce based on the LBMA afternoon benchmark. The central bank sector made net purchases of approximately 321 metric tons. For the full year, the WGC now expects purchase volumes to match or exceed those of 2025.
Demand from the electronics sector rose by 5 percent compared to the same quarter of the previous year to 72.5 metric tons, the highest quarterly figure since the end of 2017. Other industrial applications, however, saw a decline. Jewelry demand fell by 17 percent; gold ETFs recorded net inflows of approximately 211 metric tons.
In its October report, the World Bank forecasts an average price of $4,600 per troy ounce of gold for 2026 and $4,250 for 2027. It thus continues to expect high prices.
Fortuna Mining Moves Forward with Diamba Sud
Fortuna Mining - https://www.commodity-tv.com/ondemand/companies/profil/fortuna-mining-inc/ - reported 69,665 ounces of gold equivalent for the third quarter on October 7, about four percent less than in the same quarter of the previous year. The company acquired Bambadji in Senegal on August 10 for $200 million; the project borders Diamba Sud. In Séguéla, operations were temporarily hampered by a blockade and reduced equipment availability.
According to a company announcement on November 2, the group is aiming for an annual production rate of approximately 500,000 ounces of gold equivalent starting in mid-2028. As of the November 2 announcement, Diamba Sud was still awaiting a mining permit, a final investment decision, and local construction approvals. The plant expansion in Séguéla has been approved.
Osisko Gold Group Develops Cariboo
Osisko Gold Group - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-group-inc/ - wholly owns Cariboo Gold in British Columbia. On October 5, Osisko reported in BMU-26-121 that, starting at a drilling depth of 14.25 meters, it had intersected 7.28 g/t gold over 16.15 meters; estimated true thickness: 13.99 meters.
The key mining and environmental permits for Cariboo have been in place since late 2024; additional individual permits and amendments remain pending. On October 27, Osisko confirmed its targets of first gold pour in the first quarter of 2029 and commercial production in the second half of 2029. A Trafigura affiliate subscribed to shares for approximately $30 million on October 9.
Conclusion: Fortuna and Osisko on Track for Milestones
Demand from major buyers and high price forecasts are driving the project's expansion. Fortuna's projects include Diamba Sud and Séguéla, while Osisko's include Cariboo.
Current company information and press releases: https://www.resource-capital.ch/de/unternehmen/fortuna-mining-corp/ and https://www.resource-capital.ch/de/unternehmen/osisko-gold-group-inc/
For further information, see our Precious Metals Report: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/
And our Battery Metals Report:
https://www.resource-capital.ch/de/reports/ansicht/batteriemetall-report-2026-03/
Best of luck and warm regards from Switzerland,
Yours,
Marc Ollinger
Swiss Resource Capital AG
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Sources: World Gold Council, Gold Demand Trends Q3 2026, November 3, 2026 · World Gold Council, Outlook, November 3, 2026 · World Gold Council, Technology, November 3, 2026 · World Bank, Commodity Markets Outlook Price Forecasts, October 28, 2026 · Fortuna, Bambadji Acquisition, August 10, 2026 · Fortuna, Quarterly Production, October 7, 2026 · Fortuna, Diamba Sud Permit Status, November 2, 2026 · Fortuna, Quarterly Results, November 4, 2026 · Osisko, Lowhee Drilling, October 5, 2026 · Osisko, Trafigura Stake, October 9, 2026 · Osisko, Cariboo Construction Progress, October 27, 2026 · Osisko, Construction Management and Additional Permits, November 2, 2026; Cover image: AI-generated symbolic illustration
Transparency and Conflicts of Interest
Prepared and published by: SRC swiss resource capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Author: Ingrid Heinritzi. Issuers: Fortuna Mining Corp. (NYSE: FSM; TSX: FVI; WKN: A40CFY; ISIN: CA3499421020) and Osisko Gold Group Inc. (NYSE and TSXV: OGG; WKN: A42FUV; ISIN: CA68827X1050). SRC receives compensation from both companies through ongoing investor relations advisory agreements. These paid relationships constitute a financial interest in positive coverage.
The author and SRC do not hold any positions in the issuers discussed. Issuers with a stake of at least 5 percent in SRC: none. Market-making, lead/co-lead manager, and investment banking relationships: none. Other relevant interests: none. Prior review by the issuers: The issuers did not receive the article in advance for review and/or approval. Applicability of Section 18(2) MStV / responsible person: Marc Ollinger, CEO of SRC.
Methodology and Risks
Date of publication and source cutoff date: November 10, 2026, 11:47 a.m. CET. Public primary sources were cross-checked. Company information was not verified through our own technical investigations. No independent review of drilling data, resource estimates, feasibility studies, or company valuations was conducted. Technical details in Fortuna’s news releases regarding production and Diamba Sud were reviewed by Eric Chapman, P.Geo., Senior Vice President of Technical Services; technical details in the Osisko news releases used regarding drilling and construction progress were reviewed by Scott Smith, P.Geo., Vice President of Exploration. Both are company employees and are not independent. The QP designation does not imply a review or approval of this article. Gold equivalent aggregates various metals based on price ratios and does not correspond solely to gold produced. Drill hole lengths and estimated true thicknesses are reported separately. Production targets and price forecasts are forward-looking statements, not guarantees. Metal prices, interest rates, exchange rates, political developments, pending permits, financing, costs, dilution, geology, metallurgy, and operational disruptions may significantly affect results. A total loss of invested capital is possible. Cover image: AI-generated symbolic illustration with no reference to actual assets or projects of the issuers.
Disclosures and Liability
Paid marketing communication; not an independent financial analysis, individual investment advice, or solicitation to buy; not an offer of securities or a recommendation to buy. Personal investment circumstances are not reviewed. Despite careful research, no guarantee is provided as to the accuracy, completeness, or continued timeliness of the information. Statutory obligations regarding corrections and disclosures remain unaffected. Liability is limited only to the extent permitted by law; mandatory liability and claims remain unaffected . The operators of external sites are responsible for those sites; their own legal responsibility remains unaffected. AI was used for research, editing, and the cover image. Editorial responsibility and final human review remain with SRC. The date of first publication and actual distribution must be recorded prior to release; the review of any resulting additional disclosures is still pending. © 2026 SRC swiss resource capital AG. Redistribution requires consent or is permitted by law.
