Fortuna Mining - FSM STOCK NEWS

Fortuna Silver Mines Inc. (NYSE: FSM) has received a permanent injunction from the Mexican Federal Administrative Court, allowing its subsidiary Compañía Minera Cuzcatlan to continue operations at the San Jose Mine under a 12-year environmental impact authorization (EIA). This decision reaffirms the legality of the EIA, which was initially granted in December 2021, and counters attempts by SEMARNAT to revoke it. The mine, a significant regional employer, supports over 1,200 jobs and collaborates with local communities to bolster social benefits. Fortuna emphasizes compliance with environmental regulations and sustainable development initiatives.

Fortuna Silver Mines Inc. (NYSE: FSM) provides an update on its Sunbird drilling program at the Séguéla Gold Project in Côte d’Ivoire. Infill drilling for resource confidence enhancement has begun, yielding promising high-grade results, including 10.6 g/t Au over 21.7 meters and 14.9 g/t Au over 14 meters. Overall, 30 holes have been drilled, with a total of 9,500 meters planned for this phase. The objective is to upgrade resources to reserves, currently at 1.1 million ounces of gold. Drilling is expected to conclude by Q2 2023, with further depth potential testing scheduled for later in the year.

Fortuna Silver Mines Inc. (NYSE: FSM) announced it will release its financial statements for Q4 and the full year 2022 on March 15, 2023, after market closure. A conference call to discuss these results will occur on March 16, 2023, at 9:00 a.m. PT / 12:00 p.m. ET, featuring key executives including CEO Jorge A. Ganoza. Interested parties can access the call via the provided webcast link or by phone. Replay options will be available through late March and into 2024. Fortuna operates four mines across several countries and focuses on sustainability and stakeholder value.

Fortuna Silver Mines (NYSE: FSM) has provided a positive update on its Séguéla gold Project in Côte d’Ivoire. As of January 2023, the project is approximately 90% complete, with commissioning scheduled for Q2 2023. Key achievements include the near-completion of the SAG mill installation and the successful commissioning of the fuel depot. Recruitment for operational teams is underway, and initial mining activities are set to begin in February. Upcoming milestones include the first ore to the ROM pad by the end of March and first gold pour in April. Ongoing negotiations with the Côte d’Ivoire government aim to finalize mining convention terms.

Fortuna Silver Mines has updated its mineral reserves and resources at the Yaramoko Mine in Burkina Faso following a brownfields exploration program and further evaluation. Significant changes include a reduction of 120,000 ounces of gold due to a surveying error and an additional 46,000 ounces deemed uneconomical to extract, shortening the mine's life from 5 years to 3 years. The 55 Zone now reflects a decreased gold content, while the 109 Zone saw minor gains. Overall, proven and probable reserves decreased by 43% in ounces during the first half of 2022, emphasizing the need for careful resource management.

Fortuna Silver Mines Inc. (NYSE: FSM) announced that the Mexican Federal Administrative Court has granted a provisional injunction allowing its subsidiary, Compañia Minera Cuzcatlan, to continue operations at the San Jose Mine, based on a 12-year environmental impact authorization (EIA). This decision follows a legal challenge to revoke the annulment of the EIA initiated by Minera Cuzcatlan. The Court will soon decide on a permanent injunction. The San Jose Mine is significant for the local economy, employing over 1,200 workers and fostering sustainable development with local communities.

Fortuna Silver Mines (NYSE: FSM) reported production results for Q4 and full year 2022, producing 259,427 ounces of gold and 6,907,275 ounces of silver, with gold output up 25% year-over-year and silver down 8%. 2023 guidance anticipates gold production between 282,000 to 320,000 ounces (up 9-23%) and silver between 6.3 to 6.9 million ounces (down up to 9%). Notably, the Lindero Mine achieved a record annual gold production of 118,418 ounces. An increase in cash costs and AISC is projected due to inflation and operational expenditure rises.

Fortuna Silver Mines (NYSE: FSM) reports that its Mexican subsidiary, Compania Minera Cuzcatlan, is facing a re-assessment of its environmental impact authorization for the San Jose Mine in Oaxaca, Mexico. This follows a resolution from SEMARNAT that annuls a previously granted 12-year extension. CEO Jorge A. Ganoza contends that the SEMARNAT Resolution lacks merit, citing successful audits and legal victories supporting their compliance with environmental regulations. The company intends to contest this decision legally while maintaining its operational compliance and community engagement.

Fortuna Silver Mines (NYSE: FSM) has released its position statement on the Global Industry Standard on Tailings Management (GISTM), outlining its commitments to responsible tailings management. The company operates three tailings storage facilities (TSFs) and is progressing towards GISTM compliance by 2027. Key commitments include adopting GISTM requirements for new TSFs and ensuring compliance across all facilities by 2027. Fortuna emphasizes the importance of safe tailings management for sustainable mining and aims to enhance stakeholder value through its rigorous implementation plan.