Fortuna Mining - FSM STOCK NEWS

Fortuna Silver Mines (NYSE: FSM) has announced an amendment to its senior secured revolving credit facility, increasing the maximum amount by US$50 million to US$250 million. The facility's maturity remains in November 2025. Key amendments include a US$50 million accordion option, a step-up level increase from US$150 million to US$175 million, and a transition from LIBOR to SOFR for interest rates. The changes also involve a 25 basis points increase in loan interest rate margins and higher commitment fee rates. This move aims to enhance liquidity and financial stability.

Fortuna Silver Mines Inc. (NYSE: FSM) has announced significant updates from its Séguéla gold Project in Côte d’Ivoire. The updated resource estimation indicates a total of 3.2 million tonnes in Indicated Mineral Resource at an average grade of 2.74 g/t gold, containing 279,000 ounces, along with 4.2 million tonnes in Inferred Mineral Resource at 3.74 g/t gold, containing 506,000 ounces. The drilling program highlighted high-grade intersections, including 10.2 g/t gold over 9.1 meters at the Sunbird Deposit. New regional discoveries at Badior and Barana reaffirm the project's exploration potential.

Fortuna Silver Mines reported Q3 2022 financial results with gold production at 66,344 ounces and silver at 1,837,506 ounces, reflecting increases of 1% and 7% year-over-year. Free cash flow rose to $34 million, up 17% from Q3 2021, while adjusted EBITDA decreased to $54.4 million. A net loss of $4.1 million was reported, impacted by inflation and operational costs. Séguéla construction is 83% complete and on track for mid-2023 operations. The company has $125.9 million in available liquidity and confirmed it will meet production targets.

Fortuna Silver Mines (NYSE: FSM) provides an update on the Séguéla gold Project in Côte d'Ivoire, reporting that construction is 83% complete as of October 31, 2022, with the first gold pour anticipated in mid-2023. The Chief Operating Officer noted construction is on time and budget despite challenges. Key milestones include ongoing recruitment for operational roles, completion of major civil works, and significant water collection for commissioning. The budget commitments total $166 million out of $173.5 million, with the project remaining on schedule for subsequent phases.

Fortuna Silver Mines Inc. (NYSE: FSM) will release its unaudited financial statements and MD&A for Q3 2022 on November 9, 2022, after market close. A conference call discussing the results will be held on November 10, 2022, at 9:00 a.m. PT. Key executives, including CEO Jorge A. Ganoza, will host the call. Interested parties can join via a webcast or phone. Playback of the call will be available until November 24, 2022, for audio and until November 10, 2023, for the webcast. Fortuna operates mines in multiple countries, focusing on sustainability and stakeholder value.

Fortuna Silver Mines Inc. (NYSE: FSM) has reported robust third-quarter 2022 production results from its mines in the Americas and West Africa. Gold production reached 66,344 ounces, a 1.4% year-over-year increase, while silver output was 1,837,506 ounces, up 7.3% from Q3 2021. The company is on track to meet its annual guidance of 6.2 to 6.9 million ounces of silver and 244 to 280 thousand ounces of gold. Noteworthy performances came from the Lindero and Yaramoko mines. Additionally, base metal production included 9.1 million pounds of lead and 11.9 million pounds of zinc.

Fortuna Silver Mines Inc. (NYSE: FSM) will present at the Gold Forum Americas from September 18-21, 2022, in Colorado Springs, Colorado. CEO Jorge A. Ganoza is scheduled to speak on September 19 at 11:20 a.m. MDT. The Gold Forum, the oldest and largest gathering of precious commodity equities, features numerous gold and silver companies and attracts leading investors, analysts, and private equity. Fortuna operates four mines across Argentina, Burkina Faso, Mexico, and Peru, with sustainability at its core. For more details, visit their website.

Fortuna Silver Mines (NYSE: FSM) announced progress in the construction of its Séguéla gold project in Côte d'Ivoire, achieving 74% completion as of August 31, 2022. With a total budget of $173.5 million, the project has committed $164.3 million, staying on track for the first gold pour in mid-2023. Key construction activities include procurement of major equipment and completion of the high-voltage substation and water storage dam. The SAG mill is expected on-site in Q4 2022 despite supply chain challenges.

Fortuna Silver Mines (NYSE: FSM) provided a significant update on its Séguéla gold Project in Côte d’Ivoire, revealing promising drilling results. Key highlights include drill hole SGDD102, which encountered 5.1 g/t gold over 10.5 meters, and SGRD1411 intersecting 13.6 g/t gold over 6.3 meters. Exploration efforts are expanding with new high-grade prospects identified, including Kestrel at 24.0 g/t over 2.8 meters. Further drilling is planned for Q4 2022 to explore deeper extensions. This exploration success signals potential growth in gold resources at Séguéla.