Fortuna Mining Corp. - FSM STOCK NEWS

Fortuna Silver Mines reported strong Q1 2022 results, with gold production at 66,800 ounces, a 93% increase, and silver production of 1,670,128 ounces, a decrease of 13%. Net income rose to $27 million, or $0.09 per share, while sales surged 55% to $182.3 million. Adjusted EBITDA increased to $80.3 million, showcasing a robust operational performance with an adjusted net income of $33.4 million. The company maintains healthy liquidity of $150.4 million and is on track with the Séguéla Project, which is 48% complete. Operational challenges, however, included a fatal incident and production issues at the Lindero mine due to COVID-19.

Fortuna Silver Mines Inc. (NYSE: FSM) will release its first quarter 2022 financial statements and MD&A on May 11, 2022, after market close. A conference call to discuss these results will take place on May 12, 2022, at 9:00 a.m. PT / 12:00 p.m. ET, featuring President and CEO Jorge A. Ganoza and other key executives. Interested parties can join via a webcast or phone. Playback options will be available until May 26, 2022, for the earnings call and until May 12, 2023, for the webcast.

Fortuna Silver Mines Inc. (NYSE: FSM) has announced the acceptance of a normal course issuer bid (NCIB) by the Toronto Stock Exchange, allowing the purchase of up to five percent of its outstanding shares, totaling approximately 14.6 million shares. This buyback initiative is set to begin on May 2, 2022, and will continue until May 1, 2023, or until the maximum number of shares is repurchased. The company's management believes that buying back shares represents a prudent use of corporate funds, especially if shares trade below their intrinsic value.

Fortuna Silver Mines Inc. (NYSE: FSM) has announced strong first-quarter production results for 2022. Gold production rose by 93% year-over-year to 66,800 ounces, aided by the Lindero and Yaramoko mines. However, silver output saw a 13% decline to 1,670,128 ounces due to lower head grades at the San Jose Mine. The company maintains its annual guidance of 6.2 to 6.9 million ounces of silver and 244,000 to 280,000 ounces of gold for 2022. Overall, Fortuna's operations across its four mines in the Americas and West Africa remain on track for the year.

Fortuna Silver Mines Inc. (NYSE: FSM) has submitted its fiscal 2021 annual report on Form 40-F to the SEC. The report includes the company's audited financial statements, management discussion, and analysis. Shareholders can access the report on the company's website and the SEC's website. Fortuna operates four mines across multiple countries, focusing on sustainable precious metals production. The company is committed to environmental protection and social responsibility, ensuring long-term value for stakeholders.

Fortuna Silver Mines (NYSE: FSM) announced an updated NI 43-101 Technical Report for its Yaramoko Gold Mine in Burkina Faso, effective December 31, 2021. This report highlights the potential for developing an open pit mine after the completion of the underground 55 Zone mine. Current operations utilize two underground portals to extract gold, with a conventional processing method in place. The report also discloses up-to-date Mineral Resources and Reserves that substantiate future production plans.

Fortuna Silver Mines Inc. (NYSE: FSM) reported strong financial results for Q4 and full year 2021, showcasing record sales of $198.9 million, up 92% from Q4 2020. Full-year sales reached $599.9 million, a 115% increase year-over-year. Net income was $59.4 million, reflecting a significant growth of 175%. Adjusted EBITDA for Q4 was $89.6 million, doubling the previous year. Free cash flow from ongoing operations was $30.9 million in Q4. Despite higher costs, the company maintained a solid liquidity position of $187.1 million as of December 31, 2021.