Fortuna Mining Corp. - FSM STOCK NEWS

Fortuna Silver Mines (NYSE: FSM) reported a robust Q2 2021, showcasing net income of $16.2 million and record sales of $120.5 million, a 171% increase from Q2 2020. Adjusted net income rose to $21.5 million, with adjusted EBITDA reaching $54.9 million. The company faced COVID-19 challenges at Lindero, impacting guidance, yet noted improved equipment productivity. Anticipating production from the Roxgold acquisition in Q3, Fortuna expects an addition of 62,000 to 66,000 gold ounces at an AISC below $1,150 per ounce.

Fortuna Silver Mines Inc. (NYSE: FSM) will release its unaudited financial statements and MD&A for Q2 2021 on August 11, 2021, post-market close. A conference call to discuss the results is scheduled for August 12, 2021, at 9:00 AM Pacific time. Jorge A. Ganoza, President and CEO, along with CFO Luis D. Ganoza, will host the call. Interested parties can listen via webcast or phone. The company operates in the precious metals sector with four mines across various countries, emphasizing sustainability and long-term value for shareholders.

Fortuna Silver Mines reported impressive production results for Q2 2021, producing 1,892,822 ounces of silver and 31,048 ounces of gold, marking a 49% and 337% year-over-year increase, respectively. The consolidated production for the first half of 2021 reached 3,806,577 ounces of silver and 65,603 ounces of gold. The company updated its 2021 guidance, projecting 6.8 to 7.6 million ounces of silver and 194 to 223 thousand ounces of gold, reflecting strong growth despite challenges, including COVID-19 disruptions affecting operations at the Lindero Mine.

Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI) and Roxgold Inc. have completed a business combination, creating a premier intermediate gold and silver producer with four operating mines. The transaction enhances Fortuna's exploration pipeline in the Americas and West Africa, regions known for precious metal production. Both companies' shareholders approved the arrangement, and Roxgold will cease to be a reporting issuer. Kate Harcourt of Roxgold has joined Fortuna's board.

Fortuna Silver Mines has successfully completed its merger with Roxgold, forming a premier global producer of gold and silver. The transaction, finalized via a court-approved plan under British Columbia's Business Corporations Act, allows Fortuna to acquire Roxgold shares at a ratio of 0.283 common shares plus C$0.001. This merger enhances Fortuna's operational scale with four mines and a development project across the Americas and West Africa. The deal was approved by shareholders on June 28, 2021, and Roxgold shares will be delisted shortly.

Fortuna Silver Mines (NYSE: FSM) and Roxgold Inc. (TSX: ROXG) have received shareholder approval for Fortuna's acquisition of Roxgold as part of a plan of arrangement. The acquisition will see Fortuna shareholders owning approximately 63.6% of the combined entity post-deal. The final court approval is expected on June 30, 2021, and the deal is anticipated to close on July 2, 2021. Roxgold will become a wholly-owned subsidiary of Fortuna and will be delisted from the Toronto Stock Exchange. Fortuna continues to emphasize sustainability and efficient production in its operations.

Fortuna Silver Mines (NYSE: FSM | TSX: FVI) and Roxgold Inc. (TSX: ROXG | OTCQX: ROGFF) have received shareholder approval for Fortuna's acquisition of Roxgold. This acquisition will result in Roxgold becoming a wholly-owned subsidiary of Fortuna, with closing expected on July 2, 2021, pending court approval on June 30, 2021. Post-acquisition, Fortuna shareholders will hold approximately 63.6% of the company, while former Roxgold shareholders will hold 36.4%. The arrangement received significant support, with 96.65% of Fortuna and 84.80% of Roxgold shareholders voting in favor.

Fortuna Silver Mines and Roxgold have initiated the mailing of management information circulars for their upcoming shareholder meetings on June 28, 2021, regarding the proposed business combination announced on April 26, 2021. Both meetings will be held virtually to ensure safety amid COVID-19. The proposed transaction will see Roxgold shareholders receive 0.283 Fortuna Shares and C$0.001 per Roxgold Share. Upon completion, Roxgold will become a wholly-owned subsidiary of Fortuna, with shareholders owning approximately 63.6% and 36.4% of the new entity. This merger aims to create a premier growth-oriented mining company.

Fortuna Silver Mines (FSM) and Roxgold Inc. have initiated mailing materials for their respective shareholder meetings to vote on a proposed merger scheduled for June 28, 2021. The meetings will be held virtually due to COVID-19 precautions. Upon completion of the merger, Fortuna will acquire all Roxgold shares, offering 0.283 Fortuna shares plus a nominal cash payment per Roxgold share. Post-transaction, shareholders will retain approximately 63.6% and 36.4% of the combined company. This merger aims to enhance asset quality and production capabilities.