Fortuna reports progress on its share buyback program
Fortuna Mining (NYSE: FSM | TSX: FVI) has repurchased 6,402,640 common shares during Q4 2024 as of November 29, under its normal course issuer bid (NCIB). The shares were bought at a weighted-average price of $4.77, totaling $30.5 million. This represents 41.88% of the 15,287,201 shares authorized for repurchase. The company cites record Q3 earnings, strong free cash flow, and high gold prices as enabling factors for the buyback program, while maintaining a balance between shareholder returns and portfolio development.
Fortuna Mining (NYSE: FSM | TSX: FVI) ha riacquistato 6.402.640 azioni ordinarie nel quarto trimestre del 2024 fino al 29 novembre, nell'ambito dell'offerta di acquisto nel normale corso delle proprie attività (NCIB). Le azioni sono state acquistate a un prezzo medio ponderato di 4,77 $, per un totale di 30,5 milioni $. Questo rappresenta il 41,88% delle 15.287.201 azioni autorizzate per il riacquisto. L'azienda cita i record di utili del terzo trimestre, un forte flusso di cassa libero e i prezzi elevati dell'oro come fattori abilitanti per il programma di riacquisto, mentre mantiene un equilibrio tra i rendimenti per gli azionisti e lo sviluppo del portfolio.
Fortuna Mining (NYSE: FSM | TSX: FVI) ha recomprado 6.402.640 acciones comunes durante el cuarto trimestre de 2024 hasta el 29 de noviembre, bajo su oferta de recompra normal (NCIB). Las acciones se compraron a un precio promedio ponderado de $4.77, totalizando $30.5 millones. Esto representa el 41.88% de las 15.287.201 acciones autorizadas para recompra. La compañía cita los récords de ganancias del tercer trimestre, un fuerte flujo de caja libre y los altos precios del oro como factores habilitantes para el programa de recompra, mientras mantiene un equilibrio entre los retornos para los accionistas y el desarrollo del portafolio.
Fortuna Mining (NYSE: FSM | TSX: FVI)는 2024년 4분기 11월 29일 기준으로 정상적인 발행자 매입 요청(NCIB)에 따라 6,402,640 주식의 보통주를 다시 매입했습니다. 주식은 $4.77의 가중 평균 가격으로 구매되어 $30.5 백만에 달합니다. 이는 15,287,201주로 승인된 매입의 41.88%를 차지합니다. 회사는 3분기 기록적인 수익, 강한 자유현금흐름 및 높은 금 가격이 재매입 프로그램을 가능하게 한 요소라고 언급하며, 주주 수익과 포트폴리오 개발 간의 균형을 유지하고 있습니다.
Fortuna Mining (NYSE: FSM | TSX: FVI) a racheté 6.402.640 actions ordinaires au cours du quatrième trimestre 2024 jusqu'au 29 novembre, dans le cadre de son offre de rachat normal (NCIB). Les actions ont été achetées à un prix moyen pondéré de 4,77 $, totalisant 30,5 millions $. Cela représente 41,88 % des 15.287.201 actions autorisées à racheter. L'entreprise cite des bénéfices records au troisième trimestre, un solide flux de trésorerie disponible et des prix élevés de l'or comme facteurs permettant le programme de rachat, tout en maintenant un équilibre entre les rendements pour les actionnaires et le développement du portefeuille.
Fortuna Mining (NYSE: FSM | TSX: FVI) hat im vierten Quartal 2024 bis zum 29. November 6.402.640 Stammaktien im Rahmen seines regulären Rückkaufangebots (NCIB) zurückgekauft. Die Aktien wurden zu einem gewogenen Durchschnittspreis von 4,77 $ gekauft, was insgesamt 30,5 Millionen $ entspricht. Dies stellt 41,88% der 15.287.201 genehmigten Aktien für den Rückkauf dar. Das Unternehmen führt die Rekordgewinne im dritten Quartal, den starken freien Cashflow und die hohen Goldpreise als förderliche Faktoren für das Rückkaufprogramm an, während es ein Gleichgewicht zwischen den Renditen für die Aktionäre und der Portfolioentwicklung aufrechterhält.
- Record earnings achieved in Q3 2024
- Strong free cash flow generation
- Substantial share buyback progress: 41.88% of authorized amount completed
- $30.5 million invested in share repurchases at $4.77 per share
- None.
Insights
The
The buyback reduces the share count by approximately
VANCOUVER, British Columbia, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to report that during the fourth quarter as of Friday, November 29, 2024, it has repurchased under the Company’s normal course issuer bid (NCIB) an aggregate of 6,402,640 common shares on the open market of the New York Stock Exchange. Shares were repurchased at a weighted-average price of
Jorge A. Ganoza, Chief Executive Officer of Fortuna commented, “With record earnings in the third quarter, and strong free cash flow generation supported by historically high gold prices, Fortuna is positioned to return capital to its shareholders.” Mr. Ganoza continued, “Our capital priorities moving forward will be to continue to balance returns to shareholders with advancing high value opportunities in our portfolio.”
About Fortuna Mining Corp.
Fortuna Mining Corp. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru, as well as the preliminary economic assessment stage Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. Ganoza
President, CEO, and Director
Fortuna Mining Corp.
Investor Relations:
Carlos Baca | info@fmcmail.com | fortunamining.com | X | LinkedIn | YouTube
Forward-looking Statements
This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward-looking Statements”). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements relating to Fortuna’s intentions with respect to the NCIB and the effects of repurchases of common shares thereunder, including any enhancement to shareholder value; and Fortuna’s capital priorities and its business strategy, plans and outlook. Often, but not always, these Forward-looking Statements can be identified by the use of words such as “expected”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “anticipated”, “estimated” “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, legislative or regulatory developments; any significant changes to common share price or trading volume; continued availability of capital and financing; changes to general economic, market or business conditions; business opportunities that become available to, or are pursued by, Fortuna; operational risks associated with mining and mineral processing; risks associated with war, hostilities or other conflicts, such as the Ukrainian – Russian conflict and the Israel – Hamas war, and the impacts such conflicts may have on global economic activity; risks related to the Company’s ability to obtain adequate financing for planned exploration and development activities; as well as those factors discussed under “Risk Factors” in the Company’s Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to prevailing and further market prices for Fortuna’s common shares; that Fortuna’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital; future cash flow and debt levels; that there will be no material adverse change affecting the Company, its properties or its production estimates (which assume accuracy of projected head grade, mining rates, recovery timing, and recovery rate estimates and may be impacted by unscheduled maintenance, labor and contractor availability and other operating or technical difficulties); that there will be no significant disruptions affecting the Company’s operations; and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that these Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements.
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