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 Silver Mines Inc. (NYSE: FSM) has submitted its fiscal 2021 annual report on Form 40-F to the SEC. The report includes the company's audited financial statements, management discussion, and analysis. Shareholders can access the report on the company's website and the SEC's website. Fortuna operates four mines across multiple countries, focusing on sustainable precious metals production. The company is committed to environmental protection and social responsibility, ensuring long-term value for stakeholders.
Fortuna Silver Mines (NYSE: FSM) announced an updated NI 43-101 Technical Report for its Yaramoko Gold Mine in Burkina Faso, effective December 31, 2021. This report highlights the potential for developing an open pit mine after the completion of the underground 55 Zone mine. Current operations utilize two underground portals to extract gold, with a conventional processing method in place. The report also discloses up-to-date Mineral Resources and Reserves that substantiate future production plans.
Fortuna Silver Mines Inc. (NYSE: FSM) reported strong financial results for Q4 and full year 2021, showcasing record sales of $198.9 million, up 92% from Q4 2020. Full-year sales reached $599.9 million, a 115% increase year-over-year. Net income was $59.4 million, reflecting a significant growth of 175%. Adjusted EBITDA for Q4 was $89.6 million, doubling the previous year. Free cash flow from ongoing operations was $30.9 million in Q4. Despite higher costs, the company maintained a solid liquidity position of $187.1 million as of December 31, 2021.
Fortuna Silver Mines (NYSE: FSM) has announced updated Mineral Reserve and Resource estimates as of December 31, 2021, revealing a significant year-over-year increase of 81% in Proven and Probable Mineral Reserves of gold, totaling 3.3 Moz, and a decrease of 10% in silver reserves, totaling 25.9 Moz. Inferred resources also saw an increase of 82% in gold (1.0 Moz) while silver decreased by 8% (26.3 Moz). Successful exploration initiatives, particularly the integration of Yaramoko and Séguéla into the company’s portfolio and ongoing brownfields exploration programs, aim to expand resources further in 2022.
Fortuna Silver Mines (NYSE: FSM) announced a maiden Inferred Mineral Resource estimate for the Sunbird discovery at its Séguéla gold Project in Côte d'Ivoire, totaling 3.4 million tonnes at an average grade of 3.16 g/t Au, containing approximately 350,000 ounces of gold. The resource remains open for further exploration, and the company expresses optimism for additional growth through ongoing drilling efforts. Notably, this estimate will not affect the current construction plan for the Séguéla gold Project.
Fortuna Silver Mines Inc. (NYSE: FSM) will release its fourth-quarter and full-year 2021 financial statements on March 23, 2022, after market close. A conference call to discuss results will be held on March 24, 2022, at 9:00 a.m. Pacific time, featuring key executives including Jorge A. Ganoza, President and CEO. Participants can join the call via webcast or phone. The replay will be available until April 7, 2022, for audio and until March 25, 2023, for the webcast. Fortuna operates four mines and is actively involved in sustainable mining practices.
Fortuna Silver Mines (NYSE: FSM) announced it received a notice from SEMARNAT on January 28, 2022, regarding a typographical error in the environmental impact authorization for the San Jose Mine in Oaxaca, Mexico. Initially granted a 12-year extension, SEMARNAT now states the term is only 2 years. Fortuna believes this notice is erroneous and is taking legal action to reaffirm the original 12-year extension. The company remains compliant with environmental laws, and the notice does not impact current operations.
Fortuna Silver Mines Inc. (NYSE: FSM) has announced significant progress on its Séguéla gold Project in Côte d’Ivoire, with the construction approximately 32% complete as of January 31, 2022. The company has committed about $124.5 million of the $173.5 million budget. Major equipment and construction contracts are in place, and first gold pour is anticipated by mid-2023. The construction includes a fully equipped accommodation camp and ongoing work on the processing plant, tailings storage, and grid connection.
Fortuna Silver Mines Inc. (NYSE: FSM) reports a tragic fatality at its Lindero Mine in Salta, Argentina. The accident occurred at the conveyor stacking system, with no additional injuries reported. In response, stacking activities at the heap leach pad have been temporarily halted for 48 hours, and a safety stop has been initiated. The company has engaged local authorities for an investigation into the incident and is providing support to the affected worker's family. CEO Jorge A. Ganoza emphasized the company's commitment to health and safety as their top priority.
Fortuna Silver Mines (NYSE: FSM) has updated the Sunbird exploration program at the Séguéla gold Project in Côte d’Ivoire. The company is proceeding with the construction of a 3,750 tonnes per day open pit mine, targeting first gold pour by mid-2023. Recent drilling results at the Sunbird Prospect have shown significant high-grade mineralization, with gold assays up to 20.2 g/t. An inferred resource estimate is expected in Q1 2022, while additional drilling continues to explore further potential at depth.