Fortuna Mining Corp. - FSM STOCK NEWS

Fortuna Silver Mines Inc. (NYSE: FSM) announced fourth quarter and full year 2021 production results from its mines in the Americas and West Africa. In 2021, gold production reached 207,192 ounces (up 274% from 2020) and silver production was 7,498,701 ounces (up 5%). 2022 guidance forecasts gold production of 244,000 to 280,000 ounces, a 16% to 35% increase, while silver output is expected to decline between 8% and 17%. Positive performance noted in Lindero and Caylloma mines, while Yaramoko experienced a production shortfall.

Fortuna Silver Mines (NYSE: FSM) has received a 12-year extension for its environmental impact authorization (EIA) at the San Jose Mine in Oaxaca, Mexico. Following an appeal from Fortuna after a previous denial, SEMARNAT confirmed compliance with all environmental obligations, leading to the extension. The San Jose Mine has undergone 13 environmental audits and has not been cited for pollution. It employs over 1,200 people and engages with local communities for sustainable development.

Fortuna Silver Mines provides an update on exploration across Latin America and West Africa. With 12 drill rigs operating, the exploration has yielded promising results, including 16.5 g/t gold over 6.3 meters at the Sunbird Prospect in Côte d'Ivoire and significant assays from the Arizaro Project in Argentina. The ongoing drilling at multiple sites reveals consistent mineralization and positive continuity, with a total of 25,064 meters drilled at San Jose, Mexico. The mineralization remains open at depth, with further drilling planned into 2022 to enhance resource understanding.

Fortuna Silver Mines Inc. (NYSE: FSM) has announced its plans to appeal a Denial Order received on November 10, 2021, from SEMARNAT regarding the extension of the Environmental Impact Authorization (EIA) for the San Jose Mine in Oaxaca, Mexico. The appeal will be filed by its subsidiary, Minera Cuzcatlan, before the end of November 2021. Despite the denial, the mine continues operating under court protection, with a crucial deadline for obtaining permanent injunctions set for February 18, 2022. Fortuna asserts compliance with environmental laws and seeks an extension for the EIA.

Fortuna Silver Mines Inc. (NYSE: FSM) reported a third-quarter 2021 net income of $0.2 million, which is a significant decrease from $13.1 million in Q3 2020. However, adjusted net income grew 40% to $22.5 million, with adjusted EBITDA increasing 78% to $75.3 million. Record sales of $162.6 million reflect a 95% increase year-over-year, driven by gold sales from the Yaramoko and Lindero mines. Free cash flow from operations reached $33.8 million. The company has cash and equivalents totaling $135.8 million, up from $131.9 million at year-end.

Fortuna Silver Mines Inc. (NYSE: FSM) will release its unaudited financial statements for Q3 2021 on November 10, 2021, after market close. A conference call to discuss these results will take place on November 12, 2021, at 9:00 AM PT / 12:00 PM ET, hosted by CEO Jorge A. Ganoza and CFO Luis D. Ganoza. Interested parties can join via webcast or phone. Replay options are available for those who cannot attend live. Fortuna operates mines in Argentina, Burkina Faso, Mexico, and Peru, focusing on sustainability and shared value for stakeholders.

Fortuna Silver Mines (NYSE: FSM) has provided an update on its application for an extension of the Environmental Impact Authorization (EIA) for the San Jose Mine in Oaxaca, Mexico. The original EIA granted in 2009 expired on October 23, 2021. The company filed for a 10-year extension in May 2021, but SEMARNAT has requested additional information. Despite delays due to COVID-19 and administrative processes, a federal court has granted a provisional injunction allowing operations to continue. Fortuna is actively working with SEMARNAT to expedite the extension process.

Fortuna Silver Mines Inc. (NYSE: FSM) reported robust Q3 2021 production results from its mines in the Americas and West Africa. The company produced 65,425 ounces of gold and 1,711,881 ounces of silver, totaling 87,950 gold equivalent ounces. Notably, gold production surged 411% compared to Q3 2020, while silver production decreased by 20%. The Lindero Mine achieved record gold output of 26,235 ounces. Total gold and silver production for the first nine months reached 131,029 ounces and 5,518,458 ounces respectively. The company also noted a decrease in COVID-19 disruptions, with 94% of the workforce vaccinated.

Fortuna Silver Mines (NYSE: FSM) announces the commencement of construction for the Séguéla gold Project in Côte d’Ivoire, following its acquisition of Roxgold Inc. in July 2021. The project boasts a nine-year mine life with an initial annual production of 130,000 ounces of gold. The estimated initial capital investment is $162 million, supported by the company's strong financial position. Construction is set to take approximately 20 months, with initial gold production expected by mid-2023. The project indicates strong economic metrics with a projected after-tax IRR of 49% at a $1,600 gold price.