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 reported significant drilling results from its projects in Cote d’Ivoire and Burkina Faso. Highlights include high-grade gold intervals such as 28.8 g/t over 7 meters at Koula and 17.2 g/t over 30 meters at Sunbird. The company is confident about expanding mineralization at its Séguéla and Boussoura projects. With extensive drilling completed since early 2021, Fortuna aims to develop multiple new targets. The results indicate a growing potential for further discoveries as exploration progresses in the second half of the year.
Fortuna Silver Mines Inc. (NYSE: FSM) announces significant management changes effective September 1, 2021. Cesar E. Velasco has been appointed Chief Operating Officer for Latin America, while Manuel Ruiz-Conejo steps up to Senior Vice President, Mining. Carlos Manrique is now Vice President Operations, Latin America. These promotions reflect the company's strategic focus on growth in Latin America and the integration of Roxgold in West Africa. CEO Jorge A. Ganoza emphasized that these leaders are results-oriented professionals who align with the company's vision and values.
Fortuna Silver Mines (NYSE: FSM) reported a robust Q2 2021, showcasing net income of $16.2 million and record sales of $120.5 million, a 171% increase from Q2 2020. Adjusted net income rose to $21.5 million, with adjusted EBITDA reaching $54.9 million. The company faced COVID-19 challenges at Lindero, impacting guidance, yet noted improved equipment productivity. Anticipating production from the Roxgold acquisition in Q3, Fortuna expects an addition of 62,000 to 66,000 gold ounces at an AISC below $1,150 per ounce.
Fortuna Silver Mines Inc. (NYSE: FSM) will release its unaudited financial statements and MD&A for Q2 2021 on August 11, 2021, post-market close. A conference call to discuss the results is scheduled for August 12, 2021, at 9:00 AM Pacific time. Jorge A. Ganoza, President and CEO, along with CFO Luis D. Ganoza, will host the call. Interested parties can listen via webcast or phone. The company operates in the precious metals sector with four mines across various countries, emphasizing sustainability and long-term value for shareholders.
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 | 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 (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 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.