Fortuna Mining Stock Price, News & Analysis

Fortuna Mining Corp. (NYSE: FSM) reports Q2 2025 production results, delivering 71,229 gold equivalent ounces (GEO) from ongoing operations. Key highlights include 61,736 ounces of gold production, up from 56,000 oz in Q2 2024. The company completed strategic divestitures of the San Jose Mine in April and Yaramoko Mine in May 2025.

Performance across operations showed strong results: Séguéla Mine produced 38,186 ounces with mill throughput exceeding nameplate capacity by 36%, Lindero Mine delivered 23,550 ounces with enhanced crushing capacity and new solar plant implementation, and Caylloma Mine contributed 9,493 GEO. Fortuna reiterates its 2025 production guidance of 309,000 to 339,000 GEO.

Fortuna Mining Corp. (NYSE: FSM) has announced the results of its 2025 Annual General Meeting, where shareholders voted on key corporate matters. The meeting saw a 61.54% participation rate, representing 188,888,907 common shares. All proposed matters, including the appointment of auditors and election of director nominees, received shareholder approval.

The election results showed strong support for all eight director nominees, with approval ratings ranging from 92.83% to 99.50%. Jorge A. Ganoza and Kate Harcourt received the highest approval rates at 99.48% and 99.50% respectively, while David Farrell received 92.83% of votes in favor.

Fortuna Mining Corp. (NYSE: FSM) has completed a strategic investment in Awalé Resources Limited, acquiring a 15% stake through a non-brokered private placement. The investment involves 15,037,593 common shares purchased at US$0.399 per share, totaling US$6 million. Awalé's primary asset is the 100% owned Odienné Project in Côte d'Ivoire. The investment aligns with Fortuna's long-term growth strategy and strengthens its exploration pipeline in the region. Through an investor rights agreement, Fortuna secured pre-emptive rights to maintain its interest and top-up rights for additional share purchases, applicable as long as it maintains a 10% or greater stake in Awalé.

Fortuna Mining Corp. (NYSE: FSM) has reported significant exploration results from its Diamba Sud Gold Project in Senegal. At the Southern Arc prospect, drilling revealed notable intercepts including 8.6 g/t gold over 13.6 meters and 9.3 g/t gold over 11.8 meters. A standout result from Area D showed 113.7 g/t gold over 6.4 meters. The exploration program encompassed 38 drill holes totaling 4,210 meters at Southern Arc, with mineralization remaining open at depth and along strike. Additional drilling at Area A, Area D, and Karakara deposits (33 holes, 4,550 meters) showed promising results outside current pit boundaries. The company also completed exploration at the Moungoundi, Moungoundi North, and Western Splay prospects, contributing to the project's resource potential.

Fortuna Mining Corp. (NYSE: FSM) has released its seventh annual Sustainability Report for 2024, showcasing significant achievements in ESG performance. The company reported zero fatal incidents, with a Lost Time Injury Frequency Rate of 0.48 and maintained strong environmental standards with zero significant spills. Notable metrics include a carbon intensity of 0.38 tonnes CO2e per gold equivalent ounce and 14% renewable energy usage.

The company demonstrated robust community engagement with $103 million in government payments and $9.2 million allocated to community development. Fortuna employs 5,099 full-time workers, with 41% from local communities and 16% being women. The report highlights the company's governance structure, with 63% of directors having ESG expertise and 30% of executive short-term incentives tied to ESG performance.

Fortuna Mining Corp. (NYSE: FSM) has completed the sale of its Yaramoko Mine in Burkina Faso to Soleil Resources International Ltd. for $70 million in cash. Prior to closing, Roxgold Sanu paid a cash dividend of $53.8 million plus $3.7 million in withholding tax. The company may receive up to $53 million in VAT receivables upon meeting certain conditions. Following this divestiture and the recent sale of San Jose Mine, Fortuna's Q1 cash position increased to over $380 million with total liquidity exceeding $530 million. The company has updated its 2025 guidance, reducing gold equivalent production by 18% to 309,000-339,000 ounces. While cash cost guidance remains unchanged at $895-$1,015 per GEO, AISC guidance increased 6% to $1,670-$1,765 per GEO.

Fortuna Mining (NYSE: FSM) reported strong Q1 2025 financial results, with record free cash flow of $111.3 million, up 30% quarter-over-quarter. The company achieved attributable net income from continuing operations of $61.7 million ($0.20 per share) and gold equivalent production of 103,459 ounces. Quarter-end cash and short-term investments reached $309.4 million, with liquidity of $459.4 million. The company's consolidated cash cost was $929 per GEO, with AISC at $1,640 per GEO. Fortuna is streamlining its portfolio by selling the San Jose Mine in Mexico and entering an agreement to sell the Yaramoko mine in Burkina Faso for $70 million plus a $57.5 million dividend. These strategic moves will allow reallocation of approximately $50 million in capital toward higher-value opportunities.

Fortuna Mining (NYSE: FSM | TSX: FVI) has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for share repurchases. The program allows Fortuna to buy back up to 5% of its outstanding shares, equivalent to 15,347,999 common shares.

The new NCIB will run from May 2, 2025, to May 1, 2026, unless the maximum share limit is reached earlier. Under the previous program, Fortuna repurchased 7,319,540 shares at an average price of US$4.7203 per share through the NYSE.

Daily purchases will be limited to 205,903 shares on the Toronto Stock Exchange, representing 25% of the average daily trading volume. The company believes its shares sometimes trade below their underlying value and views the repurchase program as an appropriate use of corporate funds. All purchased shares will be canceled.

Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has scheduled the release of its first quarter 2025 financial statements and MD&A for Wednesday, May 7, 2025, after market close. The company will host a conference call to discuss financial and operational results on Thursday, May 8, 2025, at 12:00 p.m. Eastern time.

The call will feature key executives including Jorge A. Ganoza (President and CEO), Luis D. Ganoza (CFO), Cesar Velasco (COO - Latin America), and David Whittle (COO - West Africa). The conference call will be accessible via webcast and phone, with replay available until May 22, 2025. The webcast recording will be accessible until May 8, 2026.