Welcome to our dedicated page for Fortuna Mining news (Ticker: FSM), a resource for investors and traders seeking the latest updates and insights on Fortuna Mining stock.
Fortuna Mining Corp (FSM) provides investors with comprehensive access to official news and developments from its global precious metals operations. This dedicated resource aggregates timely updates from the company's gold and silver mining activities across Latin America and West Africa.
Track operational milestones, exploration results, and corporate announcements through verified press releases and financial disclosures. Users will find updates on mine production, resource expansion drilling, and strategic initiatives from FSM's key assets in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru.
The curated news collection serves as a reliable reference for monitoring the company's operational efficiency and growth strategies. Content spans quarterly earnings reports, leadership updates, safety achievements, and environmental stewardship initiatives, reflecting FSM's commitment to transparent stakeholder communication.
Bookmark this page for streamlined access to Fortuna Mining's latest developments, including technical reports from exploration programs and updates on the Senegal project. Regular visitors gain strategic insights into how the company maintains its position through disciplined mine management and geological expertise.
Fortuna Silver Mines Inc. (NYSE: FSM) reported its 2020 production results, producing 7.1 million ounces of silver and 55,349 ounces of gold. This reflects a 19% decrease in silver production but a 10% increase in gold output compared to 2019. Operations were affected by COVID-19 restrictions, leading to a temporary shutdown. For 2021, the company anticipates gold production between 178,000 to 202,000 ounces, a projected increase of 322% to 365% over 2020. Silver production guidance indicates a potential decrease of 5% to 7%.
Fortuna Silver Mines Inc. (NYSE: FSM) has provided an update regarding its legal status concerning a disputed 3% royalty at the San Jose Mine in Oaxaca, Mexico. The Company asserts that the royalty, which was not disclosed during the acquisition of the concession, is invalid. Legal efforts have been initiated to contest the royalty's legitimacy, with ongoing administrative and Amparo proceedings. A District Court ruling dismissed the initial proceedings but did not affect the stay on the concession's cancellation. Fortuna plans to appeal by December 14, 2020, with a potential decision expected in mid-2021.
Fortuna Silver Mines reported a net income of $13.1 million for Q3 2020, a significant turnaround from a $7.7 million loss in Q3 2019. The company's sales reached $83.4 million, up from $61.3 million year-over-year, and adjusted EBITDA rose to $42.2 million, compared to $19.2 million in the previous year. Free cash flow from ongoing operations was $30.1 million, highlighting robust performance in the current metals price environment. The ramp-up at Lindero is ongoing, with the first gold pour achieved in October, and commercial production expected in Q1 2021.
Fortuna Silver Mines Inc. (NYSE: FSM) announced its third quarter 2020 financial statements release on November 12, 2020, after market closure. A conference call is scheduled for November 13, 2020, at 9:00 a.m. Pacific time to discuss the financial and operational results.
Shareholders and interested parties can access the call via a webcast or by phone. Playback options will be available until November 27, 2020, for the call, and until November 13, 2021, for the webcast transcript.
Fortuna Silver Mines (NYSE: FSM) announced its first gold pour from the Lindero Mine in Salta, Argentina, producing 728 ounces. CEO Jorge A. Ganoza called this a significant milestone as the mine progresses towards commercial production in Q1 2021. The mine has a projected life of 13 years and is a key asset for the company. However, the project faces challenges due to COVID-19 restrictions. Total construction costs are expected between $314 million and $320 million, a 28% increase from initial estimates. An inauguration ceremony is planned for next year if conditions allow.
Fortuna Silver Mines (NYSE: FSM) announced the expiration of common share purchase Warrants for Medgold Resources Corp. on October 16, 2020. The Warrants, allowing for the purchase of 1,079,700 shares at C$0.40, expired unexercised. Following this, Fortuna holds 21,079,700 shares of Medgold, totaling 15.64% of its issued shares. Fortuna may adjust its ownership in Medgold in the future based on market conditions. An early warning report has been filed regarding this ownership change.
Fortuna Silver Mines Inc. (NYSE: FSM) reported Q3 2020 production results, achieving 2.1 million ounces of silver and 12,791 ounces of gold, reflecting increases of 10% and 12% year-over-year, respectively. Despite these gains, lead and zinc production declined by 6% and 10%, respectively. The company suspended production guidance due to COVID-19 uncertainties. For the first nine months of 2020, silver and gold production totaled 5.2 million ounces and 29,992 ounces, respectively. The Lindero Project faced delays, impacting the average gold grade of ore placed.
Fortuna Silver Mines (NYSE: FSM) has commenced irrigation and leaching of ore at its Lindero gold Project in Argentina, with the first gold pour expected in early October 2020. As of August 31, 2020, 277,000 tonnes of ore averaging 0.87 g/t Au were placed on the heap leach pad. Night shift operations began in mid-August, achieving up to 93% of design capacity. Pre-commissioning of the ADR plant is 80% complete, and the company is advancing construction amid COVID-19 challenges effectively.
Fortuna Silver Mines reported a net loss of $5.7 million for Q2 2020, marking a significant decline from a net income of $10.3 million in the same quarter last year. Sales dropped to $44.5 million from $67.9 million in Q2 2019. The company achieved adjusted EBITDA of $9.4 million, down from $27.2 million in the prior year. Despite challenges from pandemic-induced shutdowns, Fortuna maintained neutral free cash flow of $0.2 million from ongoing operations. Production figures included 1,273,922 ounces of silver and 7,099 ounces of gold.
