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 announces the pricing of its convertible senior notes offering due 2029, with an aggregate principal amount of $150 million. The initial purchasers have an option to buy an additional $22.5 million in notes within 15 days. The notes will bear a 3.75% annual interest rate, paid semi-annually, and have an initial conversion rate of 151.7220 common shares per $1,000 in principal, equivalent to a $6.59 per share conversion price. The offering is expected to close on June 10, 2024, subject to customary conditions. Net proceeds will repay existing bank debt, fund working capital, and cover general corporate purposes, including the repayment of existing 4.65% senior subordinated unsecured convertible debentures. The notes and shares are not registered under the U.S. Securities Act or qualified by a prospectus in Canada, limiting their offer and sale to qualified institutional buyers and non-U.S. persons outside the U.S.
Fortuna Silver Mines (NYSE: FSM | TSX: FVI) has released its 2023 Sustainability Report, highlighting key ESG performance metrics. The report details significant progress in tailings management, climate change initiatives, and overall safety performance. Notable improvements include a reduction in the Total Recordable Incident Frequency Rate (TRIFR) from 2.67 in 2022 to 1.22 in 2023 and an increase in ISO 45001 and ISO 14001 certifications. Additionally, there was a reduction in carbon intensity and freshwater consumption, with 63% of water usage from recycling. Financial contributions to governments and communities also rose, with $74.4 million paid in government contributions and $8.5 million allocated to community development. However, the report noted one fatality at the Caylloma Mine.
Fortuna Silver Mines announced that its Yaramoko Mine in Burkina Faso achieved the one-million-ounce gold pour milestone on May 19, 2024. Production commenced on May 16, 2016, and Fortuna acquired the mine on July 2, 2021. As of December 31, 2023, the mine has a remaining life of two years, with Proven and Probable Mineral Reserves of 219,000 ounces of gold. The 2024 exploration budget is set at $6.1 million for 41,450 meters of drilling. The mine has not recorded any Lost Time Injury Incidents for over 3.5 years, covering 9 million working hours. About 52% of the 900-strong workforce hails from neighboring communities.
Fortuna Silver Mines Inc. reported financial results for Q1 2024 with $26.3 million net income, $84.3 million cash flow, and $40 million debt repayment. Operational highlights include 112,543 gold equivalent production, shareholder capital return, and new prospects at Séguéla. Despite a decrease in production and higher costs at San Jose, the company maintains a strong liquidity position.
Fortuna Silver Mines Inc. (NYSE: FSM) has renewed its share repurchase program, approved by the Toronto Stock Exchange. The company plans to repurchase up to five percent of its outstanding common shares through the NCIB, starting on May 2, 2024. The program aims to enhance shareholder value by buying back undervalued shares, with a limit of 15,287,201 common shares to be repurchased and cancelled. Fortuna will base its repurchase decisions on financial performance, cash flow, and regulatory restrictions.
