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 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.
Fortuna Silver Mines Inc. (NYSE: FSM) will release its first-quarter 2021 financial statements and MD&A on May 10, 2021, after market close. A conference call is scheduled for May 11, 2021, at 9:00 a.m. Pacific time, featuring CEO Jorge A. Ganoza and CFO Luis D. Ganoza. Investors can access the call via webcast or phone. Replay details will be available until May 25, 2021, for audio and until May 11, 2022, for the webcast. Fortuna operates in Peru, Mexico, and Argentina, focusing on sustainable precious metal production.
Fortuna Silver Mines is set to acquire Roxgold in a significant merger, enhancing its growth in the precious metals sector. The anticipated production is approximately 450,000 gold equivalent ounces annually at an all-in sustaining cost (AISC) of about US$950 per ounce. The transaction offers Roxgold shareholders a 42.1% premium, valuing the deal at C$1.1 billion. The merger is expected to bolster Fortuna's market position, with a projected average annual EBITDA of over US$500 million from 2021 to 2023, and improved access to capital for further growth initiatives.
Fortuna Silver Mines and Roxgold Inc. have announced a definitive agreement for Fortuna to acquire all issued securities of Roxgold. Under the agreement, Roxgold shareholders will receive 0.283 common shares of Fortuna and C$0.001 for each Roxgold share, valuing Roxgold at C$2.73 per share, a premium of 42.1%. The transaction estimates a fully diluted equity value of C$1.1 billion, creating a global intermediate gold and silver producer with anticipated combined production of 450,000 ounces annually. The merger enhances growth opportunities and market competitiveness.
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