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 (FSM) provides investors with comprehensive access to official news and developments from its global precious metals operations. This dedicated resource aggregates timely updates from the company's gold and silver mining activities across Latin America and West Africa.
Track operational milestones, exploration results, and corporate announcements through verified press releases and financial disclosures. Users will find updates on mine production, resource expansion drilling, and strategic initiatives from FSM's key assets in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru.
The curated news collection serves as a reliable reference for monitoring the company's operational efficiency and growth strategies. Content spans quarterly earnings reports, leadership updates, safety achievements, and environmental stewardship initiatives, reflecting FSM's commitment to transparent stakeholder communication.
Bookmark this page for streamlined access to Fortuna Mining's latest developments, including technical reports from exploration programs and updates on the Senegal project. Regular visitors gain strategic insights into how the company maintains its position through disciplined mine management and geological expertise.
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.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced the release date for its third quarter 2024 unaudited financial statements and MD&A. The company will publish these documents on Wednesday, November 6, 2024, after market close. A conference call to discuss the financial and operational results is scheduled for Thursday, November 7, 2024, at 9:00 a.m. Pacific time | 12:00 p.m. Eastern time.
The call will be hosted by key company executives, including Jorge A. Ganoza (President and CEO), Luis D. Ganoza (CFO), Cesar Velasco (COO - Latin America), and David Whittle (COO - West Africa). Shareholders, analysts, media, and interested investors are invited to participate via webcast or phone. Replay options will be available until November 21, 2024, and a transcript will be archived on the company's website.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports solid production results for Q3 2024 from its five operating mines in West Africa and Latin America. Highlights include:
- Gold equivalent production of 110,820 ounces
- Gold production of 91,251 ounces
- Silver production of 816,187 ounces
- Zinc and lead production of 12.8 million and 10.0 million pounds
The Lindero leach pad expansion, the company's largest capital project in 2024, is 76% complete and on budget. Fortuna reiterates its 2024 annual production guidance of 457-497 thousand gold equivalent ounces. Notable mine performances include Séguéla's strong output and Yaramoko's continued solid performance, while San Jose faces challenges as it nears the end of its reserves.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has provided an update on its Yaramoko Mine operations in Burkina Faso. This comes in response to recent public comments by Burkina Faso's President Ibrahim Traoré regarding mining companies and potential withdrawal of existing mining permits. Fortuna has received confirmation from the country's Ministry of Mines that there are no plans to withdraw existing mining permits that comply with local laws. The company affirms that the Yaramoko Mine is in compliance and continues normal operations.
The Yaramoko Mine, operational since 2016, reached the one-million-ounce gold pour milestone on May 19, 2024. It is expected to contribute approximately 25 percent of Fortuna's gold equivalent ounces in 2024, aligning with the company's annual guidance of 457 to 497 koz Au Eq for the year.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has reported promising results from its exploration programs at the Diamba Sud Gold Project in Senegal. Key highlights include:
- Western Splay Prospect: Drill hole DSDD293 intersected 6.9 g/t Au over 33.3 meters, and DSR680 yielded 8.9 g/t Au over 27.7 meters.
- Karakara Prospect: Drill hole DSDD300 returned 8.8 g/t Au over 6.4 meters.
The company completed 13,319 meters of drilling across 95 holes, focusing on expanding the Western Splay and Kassasoko prospects. A revised geological model has identified additional targets for testing, potentially contributing to growing the project portfolio and resource base.
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