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. reports operating and financial developments for a Canadian precious metals miner that produces gold and silver from three operating mines and a portfolio of exploration projects.
Recurring updates include quarterly production in gold-equivalent ounces, cash costs and all-in sustaining costs, cash flow, liquidity, safety performance and capital actions through normal course issuer bid activity. Company news also covers Mineral Reserve and Mineral Resource estimates, drilling at deposits such as Sunbird at Séguéla, exploration projects including Diamba Sud in Senegal, project agreements in the Guyana Shield, annual reporting and MD&A releases.
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.
Fortuna Silver Mines Inc. (NYSE: FSM) reports that its Yaramoko gold Mine in Burkina Faso is operating normally despite the ongoing political situation in the country. The company has confirmed that its workforce and supply chains remain unaffected. Fortuna is actively monitoring the situation and will issue updates as necessary.
With a focus on sustainability, Fortuna operates four mines across Argentina, Burkina Faso, Mexico, and Peru, with another under construction in Côte d'Ivoire. The company emphasizes efficient production and social responsibility.
Fortuna Silver Mines Inc. (NYSE: FSM) announced fourth quarter and full year 2021 production results from its mines in the Americas and West Africa. In 2021, gold production reached 207,192 ounces (up 274% from 2020) and silver production was 7,498,701 ounces (up 5%). 2022 guidance forecasts gold production of 244,000 to 280,000 ounces, a 16% to 35% increase, while silver output is expected to decline between 8% and 17%. Positive performance noted in Lindero and Caylloma mines, while Yaramoko experienced a production shortfall.
Fortuna Silver Mines (NYSE: FSM) has received a 12-year extension for its environmental impact authorization (EIA) at the San Jose Mine in Oaxaca, Mexico. Following an appeal from Fortuna after a previous denial, SEMARNAT confirmed compliance with all environmental obligations, leading to the extension. The San Jose Mine has undergone 13 environmental audits and has not been cited for pollution. It employs over 1,200 people and engages with local communities for sustainable development.
Fortuna Silver Mines provides an update on exploration across Latin America and West Africa. With 12 drill rigs operating, the exploration has yielded promising results, including 16.5 g/t gold over 6.3 meters at the Sunbird Prospect in Côte d'Ivoire and significant assays from the Arizaro Project in Argentina. The ongoing drilling at multiple sites reveals consistent mineralization and positive continuity, with a total of 25,064 meters drilled at San Jose, Mexico. The mineralization remains open at depth, with further drilling planned into 2022 to enhance resource understanding.
Fortuna Silver Mines Inc. (NYSE: FSM) has announced its plans to appeal a Denial Order received on November 10, 2021, from SEMARNAT regarding the extension of the Environmental Impact Authorization (EIA) for the San Jose Mine in Oaxaca, Mexico. The appeal will be filed by its subsidiary, Minera Cuzcatlan, before the end of November 2021. Despite the denial, the mine continues operating under court protection, with a crucial deadline for obtaining permanent injunctions set for February 18, 2022. Fortuna asserts compliance with environmental laws and seeks an extension for the EIA.
Fortuna Silver Mines Inc. (NYSE: FSM) reported a third-quarter 2021 net income of $0.2 million, which is a significant decrease from $13.1 million in Q3 2020. However, adjusted net income grew 40% to $22.5 million, with adjusted EBITDA increasing 78% to $75.3 million. Record sales of $162.6 million reflect a 95% increase year-over-year, driven by gold sales from the Yaramoko and Lindero mines. Free cash flow from operations reached $33.8 million. The company has cash and equivalents totaling $135.8 million, up from $131.9 million at year-end.
Fortuna Silver Mines Inc. (NYSE: FSM) will release its unaudited financial statements for Q3 2021 on November 10, 2021, after market close. A conference call to discuss these results will take place on November 12, 2021, at 9:00 AM PT / 12:00 PM ET, hosted by CEO Jorge A. Ganoza and CFO Luis D. Ganoza. Interested parties can join via webcast or phone. Replay options are available for those who cannot attend live. Fortuna operates mines in Argentina, Burkina Faso, Mexico, and Peru, focusing on sustainability and shared value for stakeholders.
Fortuna Silver Mines (NYSE: FSM) has provided an update on its application for an extension of the Environmental Impact Authorization (EIA) for the San Jose Mine in Oaxaca, Mexico. The original EIA granted in 2009 expired on October 23, 2021. The company filed for a 10-year extension in May 2021, but SEMARNAT has requested additional information. Despite delays due to COVID-19 and administrative processes, a federal court has granted a provisional injunction allowing operations to continue. Fortuna is actively working with SEMARNAT to expedite the extension process.