Fortuna Mining Stock Price, News & Analysis

Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reported a fatal accident at its Séguéla Mine in Côte d'Ivoire on February 24, 2025. An employee of Mapa Protection Incendie (MPI), a service provider to mine contractor Mota Engil, died following an explosion while refilling fire extinguishers at the light vehicle maintenance workshop.

The victim received immediate assistance from the mine's emergency team and was evacuated to Séguéla City Hospital, where he later succumbed to his injuries. No other individuals were injured in the incident.

Government authorities have been notified, and senior corporate leadership is traveling to the site. An investigation into the cause of the accident is underway. Jorge A. Ganoza, President, CEO and Director of Fortuna, expressed condolences and emphasized the company's commitment to workplace safety and conducting a thorough investigation to prevent future incidents.

Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced the upcoming release of its fourth quarter and full year 2024 financial results on Wednesday, March 5, 2025, after market close. The company will host a conference call to discuss financial and operational results on Thursday, March 6, 2025, at 12:00 p.m. Eastern time.

The call will be hosted by 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 March 20, 2025. The webcast playback will remain accessible until March 6, 2026.

Fortuna Mining (NYSE: FSM) reports record production results for 2024, achieving 455,958 gold equivalent ounces, including 369,637 ounces of gold and 3.7 million ounces of silver. The company's Q4 2024 production reached 116,358 gold equivalent ounces.

Key highlights include a share buyback program where 6.4 million common shares were repurchased at an average price of $4.77 per share, totaling $30.5 million. The company's 2025 outlook projects gold equivalent production between 380,000 and 422,000 ounces, representing a 7-17% decrease from 2024.

The company's flagship Séguéla Mine achieved top-end guidance with 137,781 gold ounces in 2024, while Yaramoko Mine reached its one-million-ounce gold pour milestone. The Lindero Mine completed its leach pad expansion project, and the company announced the planned sale of its non-core San Jose Mine.

Fortuna Mining Corp. (NYSE: FSM) has announced a binding agreement to sell its 100% interest in the San Jose Mine in Oaxaca, Mexico, to private Mexican company Minas del Balsas (MDB). The transaction includes:

- US$6 million in staged payments over two years
- Up to US$11 million upon meeting certain conditions
- 1.0% net smelter royalty for 5 years once production starts

The San Jose Mine, which was scheduled to begin closure in early 2025, was one of the world's 12 largest primary silver producers during its 13-year operation under Fortuna. The transaction is expected to close in Q1 2025, allowing Fortuna to focus on higher-value portfolio opportunities.

Fortuna Mining (NYSE: FSM) has announced significant exploration results from its Séguéla Mine in Côte d'Ivoire. The company reported notable drill intersections at the Kingfisher deposit, including 15.3 meters averaging 4.1 g/t Au and 17 meters averaging 3.3 g/t Au, approximately 150 meters along strike of the recently reported maiden Inferred Resource of 294,000 ounces averaging 2.3 g/t Au.

At the Kingfisher deposit, 58 holes totaling 11,103 meters were completed since September 2024, with mineralization remaining open at depth across most of the 2-kilometer strike. The Sunbird deposit showed promising results, including an intersection of 20.4 g/t Au over 19.6 meters, with mineralization extending 650 meters along strike from existing underground resources.

Fortuna Mining has announced updated Mineral Reserves and Mineral Resources at its Séguéla Mine, featuring the discovery of over 500,000 gold ounces of new Inferred Resources. The mine now reports 1.0 Moz Au in Proven and Probable Mineral Reserves, 396,000 oz Au in Measured and Indicated Resources, and 677,000 oz Au in Inferred Resources.

Key highlights include maiden Inferred Resources of 294,000 oz for Kingfisher and 61,000 oz for Badior deposits, plus 141,000 oz Au of underground Inferred Resource at Sunbird. For 2024, Séguéla Mine is expected to produce between 126,000 to 138,000 gold ounces at the upper range.

Fortuna Mining (NYSE: FSM | TSX: FVI) has repurchased 6,402,640 common shares during Q4 2024 as of November 29, under its normal course issuer bid (NCIB). The shares were bought at a weighted-average price of $4.77, totaling $30.5 million. This represents 41.88% of the 15,287,201 shares authorized for repurchase. The company cites record Q3 earnings, strong free cash flow, and high gold prices as enabling factors for the buyback program, while maintaining a balance between shareholder returns and portfolio development.

Fortuna Mining reported record Q3 2024 financial results with attributable net income of $50.5 million ($0.16 per share) and operating cash flow of $119.3 million. The company produced 110,820 ounces of gold equivalent at a cash cost of $1,059 per ounce. Key highlights include achieving a positive net cash position of $8.0 million, increased liquidity to $430.6 million, and consolidated sales of $274.9 million (up 13% year-over-year). The company remains on track to meet its annual production guidance of 457-497 koz gold equivalent.

Gold prices are surging towards record highs, with Goldman Sachs projecting potential reaches of $3,000 by end-2025. Amid this backdrop, Yukon Metals Corp. announced results from ground-based Gravity and Time Domain Electromagnetic surveys at its Star River Project, identifying four prominent conductive zones. The surveys, completed by Aurora Geosciences, covered 20.6 kilometers with 100m line spacing and revealed targets coincident with gold and silver sampling up to 101 grams per tonne gold. The 715-hectare project, located 50km south of Ross River, Yukon, is accessible by all-season road and features multiple showings of polymetallic carbonate replacement mineralization.