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. (NYSE: FSM, TSX: FVI) generates a steady flow of news related to its precious metals mining operations in Latin America and West Africa. As a Canadian company with three operating mines and a portfolio of exploration projects in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal, its disclosures cover production performance, project development, exploration results, and corporate actions.
News updates frequently focus on quarterly and annual production, expressed in gold equivalent ounces (GEO) that combine gold, silver, lead, and zinc. Recent releases detail record gold production at the Séguéla Mine in Côte d’Ivoire, consolidated GEO output from ongoing operations, and guidance ranges for future GEO production, cash costs, and all-in sustaining costs. Operational updates also describe mine-specific events, such as mechanical downtime and subsequent remediation at the Lindero Mine in Argentina, and strong base metal production at the Caylloma Mine in Peru.
Investors following FSM news will also see extensive coverage of growth projects and exploration. Fortuna reports on Mineral Reserve and Mineral Resource updates at Séguéla, underground studies at the Sunbird deposit, and drilling results that expand mineralization at both Séguéla and the Diamba Sud Gold Project in Senegal. Technical milestones, including the filing of NI 43-101 reports and the award of feasibility and plant expansion studies, are regular topics.
Corporate and financial news items include quarterly financial results, liquidity and net cash positions, and share repurchases under the company’s normal course issuer bid. Together, these updates provide context on Fortuna’s operating performance, project pipeline, and capital allocation. Bookmark this page to review the latest FSM production reports, exploration results, technical studies, and regulatory announcements as they are released.
Fortuna Mining (NYSE: FSM | TSX: FVI) has repurchased 6,402,640 common shares during Q4 2024 as of November 29, under its normal course issuer bid (NCIB). The shares were bought at a weighted-average price of $4.77, totaling $30.5 million. This represents 41.88% of the 15,287,201 shares authorized for repurchase. The company cites record Q3 earnings, strong free cash flow, and high gold prices as enabling factors for the buyback program, while maintaining a balance between shareholder returns and portfolio development.
Fortuna Mining reported record Q3 2024 financial results with attributable net income of $50.5 million ($0.16 per share) and operating cash flow of $119.3 million. The company produced 110,820 ounces of gold equivalent at a cash cost of $1,059 per ounce. Key highlights include achieving a positive net cash position of $8.0 million, increased liquidity to $430.6 million, and consolidated sales of $274.9 million (up 13% year-over-year). The company remains on track to meet its annual production guidance of 457-497 koz gold equivalent.
Gold prices are surging towards record highs, with Goldman Sachs projecting potential reaches of $3,000 by end-2025. Amid this backdrop, Yukon Metals Corp. announced results from ground-based Gravity and Time Domain Electromagnetic surveys at its Star River Project, identifying four prominent conductive zones. The surveys, completed by Aurora Geosciences, covered 20.6 kilometers with 100m line spacing and revealed targets coincident with gold and silver sampling up to 101 grams per tonne gold. The 715-hectare project, located 50km south of Ross River, Yukon, is accessible by all-season road and features multiple showings of polymetallic carbonate replacement mineralization.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced the release date for its third quarter 2024 unaudited financial statements and MD&A. The company will publish these documents on Wednesday, November 6, 2024, after market close. A conference call to discuss the financial and operational results is scheduled for Thursday, November 7, 2024, at 9:00 a.m. Pacific time | 12:00 p.m. Eastern time.
The call will be hosted by key company executives, including Jorge A. Ganoza (President and CEO), Luis D. Ganoza (CFO), Cesar Velasco (COO - Latin America), and David Whittle (COO - West Africa). Shareholders, analysts, media, and interested investors are invited to participate via webcast or phone. Replay options will be available until November 21, 2024, and a transcript will be archived on the company's website.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports solid production results for Q3 2024 from its five operating mines in West Africa and Latin America. Highlights include:
- Gold equivalent production of 110,820 ounces
- Gold production of 91,251 ounces
- Silver production of 816,187 ounces
- Zinc and lead production of 12.8 million and 10.0 million pounds
The Lindero leach pad expansion, the company's largest capital project in 2024, is 76% complete and on budget. Fortuna reiterates its 2024 annual production guidance of 457-497 thousand gold equivalent ounces. Notable mine performances include Séguéla's strong output and Yaramoko's continued solid performance, while San Jose faces challenges as it nears the end of its reserves.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has provided an update on its Yaramoko Mine operations in Burkina Faso. This comes in response to recent public comments by Burkina Faso's President Ibrahim Traoré regarding mining companies and potential withdrawal of existing mining permits. Fortuna has received confirmation from the country's Ministry of Mines that there are no plans to withdraw existing mining permits that comply with local laws. The company affirms that the Yaramoko Mine is in compliance and continues normal operations.
The Yaramoko Mine, operational since 2016, reached the one-million-ounce gold pour milestone on May 19, 2024. It is expected to contribute approximately 25 percent of Fortuna's gold equivalent ounces in 2024, aligning with the company's annual guidance of 457 to 497 koz Au Eq for the year.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has reported promising results from its exploration programs at the Diamba Sud Gold Project in Senegal. Key highlights include:
- Western Splay Prospect: Drill hole DSDD293 intersected 6.9 g/t Au over 33.3 meters, and DSR680 yielded 8.9 g/t Au over 27.7 meters.
- Karakara Prospect: Drill hole DSDD300 returned 8.8 g/t Au over 6.4 meters.
The company completed 13,319 meters of drilling across 95 holes, focusing on expanding the Western Splay and Kassasoko prospects. A revised geological model has identified additional targets for testing, potentially contributing to growing the project portfolio and resource base.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has reported significant exploration results from its Séguéla Mine in Côte d'Ivoire. The Kingfisher prospect has shown promising results, with drill hole SGRC1865 intersecting 14.2 g/t Au over 16.8 meters from 100 meters depth. The prospect's strike length now extends over 2 kilometers and remains open at depth.
At the Sunbird deposit, drilling continues to support underground mining potential, with drill hole SGDD140 intersecting 8.8 g/t Au over 6.3 meters from 301 meters depth. The company plans to continue exploration throughout 2024, aiming for a maiden Inferred resource at Kingfisher in early 2025 and evaluating underground mining potential at Sunbird.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) announced its Q2 2024 financial results. Key highlights include:
Financial: Attributable net income rose to $40.6 million or $0.13 per share, up from $26.3 million or $0.09 per share in Q1 2024. Adjusted attributable net income was $30.4 million or $0.10 per share. Cash flow from operations before working capital changes reached $93.0 million, with free cash flow of $38.6 million. Fortuna issued convertible notes for $172.5 million, using part to clear $125.0 million under its credit facility. Liquidity stood at $355.6 million by June 30, 2024.
Operational: Gold equivalent production increased to 116,570 ounces from 112,543 ounces in Q1 2024. Gold production rose to 92,716 ounces, and silver production dropped to 990,574 ounces. Consolidated cash costs per ounce of gold equivalent sold were $988, and all-in sustaining cash costs were $1,656, with specific adjustments for San Jose mine.
Growth: At the Kingfisher prospect, Séguéla Mine, Fortuna intersected 23.7 g/t gold over 17.8 meters. Exploration at Diamba Sud showed 31.3 g/t gold over 12.0 meters.
Financial Metrics: Sales increased by 64% to $260.0 million. Operating income surged by 619% to $55.4 million. Adjusted EBITDA was $112.7 million.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced the release date for its second quarter 2024 financial results. The unaudited financial statements and MD&A will be released on August 7, 2024, after market close. A conference call to discuss the results is scheduled for August 8, 2024, at 12:00 p.m. Eastern time.
Key executives, including CEO Jorge A. Ganoza and CFO Luis D. Ganoza, will host the call. Shareholders and interested parties can join via webcast or phone. The replay will be available until August 22, 2024, and a transcript will be archived on the company's website.