Fortuna Mining Stock Price, News & Analysis

Fortuna Silver Mines reported impressive production results for Q2 2021, producing 1,892,822 ounces of silver and 31,048 ounces of gold, marking a 49% and 337% year-over-year increase, respectively. The consolidated production for the first half of 2021 reached 3,806,577 ounces of silver and 65,603 ounces of gold. The company updated its 2021 guidance, projecting 6.8 to 7.6 million ounces of silver and 194 to 223 thousand ounces of gold, reflecting strong growth despite challenges, including COVID-19 disruptions affecting operations at the Lindero Mine.

Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI) and Roxgold Inc. have completed a business combination, creating a premier intermediate gold and silver producer with four operating mines. The transaction enhances Fortuna's exploration pipeline in the Americas and West Africa, regions known for precious metal production. Both companies' shareholders approved the arrangement, and Roxgold will cease to be a reporting issuer. Kate Harcourt of Roxgold has joined Fortuna's board.

Fortuna Silver Mines has successfully completed its merger with Roxgold, forming a premier global producer of gold and silver. The transaction, finalized via a court-approved plan under British Columbia's Business Corporations Act, allows Fortuna to acquire Roxgold shares at a ratio of 0.283 common shares plus C$0.001. This merger enhances Fortuna's operational scale with four mines and a development project across the Americas and West Africa. The deal was approved by shareholders on June 28, 2021, and Roxgold shares will be delisted shortly.

Fortuna Silver Mines (NYSE: FSM) and Roxgold Inc. (TSX: ROXG) have received shareholder approval for Fortuna's acquisition of Roxgold as part of a plan of arrangement. The acquisition will see Fortuna shareholders owning approximately 63.6% of the combined entity post-deal. The final court approval is expected on June 30, 2021, and the deal is anticipated to close on July 2, 2021. Roxgold will become a wholly-owned subsidiary of Fortuna and will be delisted from the Toronto Stock Exchange. Fortuna continues to emphasize sustainability and efficient production in its operations.

Fortuna Silver Mines (NYSE: FSM | TSX: FVI) and Roxgold Inc. (TSX: ROXG | OTCQX: ROGFF) have received shareholder approval for Fortuna's acquisition of Roxgold. This acquisition will result in Roxgold becoming a wholly-owned subsidiary of Fortuna, with closing expected on July 2, 2021, pending court approval on June 30, 2021. Post-acquisition, Fortuna shareholders will hold approximately 63.6% of the company, while former Roxgold shareholders will hold 36.4%. The arrangement received significant support, with 96.65% of Fortuna and 84.80% of Roxgold shareholders voting in favor.

Fortuna Silver Mines and Roxgold have initiated the mailing of management information circulars for their upcoming shareholder meetings on June 28, 2021, regarding the proposed business combination announced on April 26, 2021. Both meetings will be held virtually to ensure safety amid COVID-19. The proposed transaction will see Roxgold shareholders receive 0.283 Fortuna Shares and C$0.001 per Roxgold Share. Upon completion, Roxgold will become a wholly-owned subsidiary of Fortuna, with shareholders owning approximately 63.6% and 36.4% of the new entity. This merger aims to create a premier growth-oriented mining company.

Fortuna Silver Mines (FSM) and Roxgold Inc. have initiated mailing materials for their respective shareholder meetings to vote on a proposed merger scheduled for June 28, 2021. The meetings will be held virtually due to COVID-19 precautions. Upon completion of the merger, Fortuna will acquire all Roxgold shares, offering 0.283 Fortuna shares plus a nominal cash payment per Roxgold share. Post-transaction, shareholders will retain approximately 63.6% and 36.4% of the combined company. This merger aims to enhance asset quality and production capabilities.

Fortuna Silver Mines (NYSE: FSM) has received positive news regarding a royalty claim affecting its San Jose Mine in Oaxaca, Mexico. The Dirección General de Minas (DGM) terminated the cancellation procedure for one of its mining concessions, concluding that the basis for cancellation was not established. Consequently, Fortuna has ceased its Amparo Proceedings in a Collegiate Court in Mexico and is now in goodwill discussions with the Mexican Geological Service to resolve the royalty claim amicably. This development is expected to facilitate ongoing operations at the mine.

Fortuna Silver Mines Inc. (NYSE: FSM) reported record financial results for Q1 2021, including a net income of $26.4 million and adjusted EBITDA of $60.8 million. Sales surged by 148% to $117.8 million, driven by higher metal prices and sales volumes, particularly from the Lindero Mine at $36.9 million. Free cash flow from ongoing operations reached $17.4 million. The company maintained its production guidance of 178,000 to 202,000 ounces of gold and 6.8 million to 7.6 million ounces of silver.