Fortuna Mining Stock Price, News & Analysis

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.

Fortuna Silver Mines (NYSE: FSM) announces the voluntary resignation of Paul Criddle as Chief Operating Officer - West Africa, effective September 30, 2022, due to personal reasons. He will remain a senior advisor until the Séguéla Mine in Côte d'Ivoire is completed, which is currently 66% finished as of June 30, 2022. David Whittle, formerly Vice President of Operations - West Africa, will take over as COO from October 1, 2022. Fortuna appreciates Criddle's contributions and welcomes Whittle to the executive team, aiming to strengthen operations in the region.

Fortuna Silver Mines (NYSE: FSM) reported its Q2 2022 results with gold production of 62,171 ounces, a 100% rise year-over-year, while silver production fell 13% to 1,652,895 ounces. Net income decreased to $1.7 million from $16.2 million in Q2 2021. Sales rose 39% to $167.9 million, driven mainly by higher gold sales. All-in sustaining costs were $1,151 per ounce for the Lindero Mine and $1,565 for the Yaramoko Mine. Free cash flow reached $21.9 million, and liquidity stood at $136.1 million. The Séguéla project is 66% complete, on track for a mid-2023 gold pour.

Fortuna Silver Mines Inc. (NYSE: FSM) announced it will release its unaudited financial statements and MD&A for Q2 2022 on August 10, 2022, after market close. A conference call to discuss these results will take place on August 11, 2022, at 9:00 a.m. Pacific time, featuring key executives, including CEO Jorge A. Ganoza. Interested parties can listen via webcast or phone. The earnings call replay will be available until August 25, 2022, while the webcast playback will last until August 11, 2023. Fortuna operates four mines in various countries and focuses on sustainability in its operations.

Fortuna Silver Mines reported strong production results for Q2 2022, achieving a 100% increase in gold production year-over-year, totaling 62,171 ounces. Silver production reached 1,652,895 ounces, reflecting a 13% decrease compared to Q2 2021. The company maintained its annual production guidance of 6.2 to 6.9 million ounces of silver and 244 to 280 thousand ounces of gold. Key operational highlights include strong performances from both Lindero and Yaramoko mines, while San Jose's silver and gold output was lower due to reduced head grades.

Fortuna Silver Mines (NYSE: FSM) held its annual general meeting on June 27, 2022, with 138,713,814 shares represented, accounting for 47.48% of total shares. Shareholders approved all resolutions, including the appointment of directors and auditors. Notably, Ms. Salma Seetaroo was appointed as an additional director, bringing extensive experience in investment banking and project development in West Africa. Fortuna anticipates that West Africa will contribute approximately 100,000 ounces to its gold production this year, representing 27% of its total gold equivalent ounces.

Fortuna Silver Mines Inc. (NYSE: FSM) announced significant progress at its Séguéla gold Project in Côte d'Ivoire, which is 61% complete as of June 15, 2022. The project, with a capital budget of $173.5 million, has $143.8 million committed. Key milestones include securing major equipment, executing construction contracts, and preparing for the first gold pour scheduled for mid-2023. Despite supply chain challenges, the project is on track, with critical earthworks and civil works completed ahead of the wet season.

Fortuna Silver Mines Inc. (NYSE: FSM) updated its Sunbird exploration program at the Séguéla gold Project in Côte d’Ivoire, building on a maiden Inferred Mineral Resource of 350,000 gold ounces released in March 2022. Expansion drilling has revealed high-grade mineralization, with significant drill results including up to 28.2 g/t gold. The program aims to extend the mineralized footprint, and regional exploration has identified several promising new targets. Continued drilling is set to further define and expand gold resources in the area, ensuring ongoing exploration success.