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. 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 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.
Fortuna Mining Corp. (NYSE: FSM) has completed the sale of its 100% interest in Compañia Minera Cuzcatlan, owner of the San Jose Mine in Oaxaca, Mexico, to private Peruvian company JRC Ingeniería y Construcción.
The transaction terms include:
- Initial payment of US$6.5 million
- Additional payment of US$1.2 million for pre-paid working capital and tax receivables by April 30, 2025
- Potential future payment of up to US$8.3 million upon meeting certain conditions
- Fortuna retains a 1% net smelter royalty on production after 6.1 million ounces of silver and 44,000 ounces of gold or 119,000 gold equivalent ounces are extracted
Fortuna Mining (NYSE: FSM | TSX: FVI) has announced the sale of its Yaramoko Mine in Burkina Faso to Soleil Resources International (SRI), a private Mauritius company. The transaction, valued at approximately US$130 million, includes:
- US$70 million payable on closing
- US$57.5 million in cash dividends from Roxgold Sanu
- Up to US$53 million in VAT receivables upon meeting conditions
The strategic exit is driven by Yaramoko's remaining mineral reserves (approximately one year), ceased exploration activities, and challenging business climate in Burkina Faso. The deal helps Fortuna avoid approximately US$20 million in future mine closure liabilities. The transaction is expected to complete in Q2 2025, subject to ministerial approval and other customary conditions.
Fortuna Mining (NYSE: FSM) reports Q1 2025 production of 103,459 gold equivalent ounces, showing a decrease from 112,543 GEOs in Q1 2024 and 116,358 GEOs in Q4 2024. Key highlights include:
- Gold production of 91,893 ounces (up from 89,678 oz in Q1 2024)
- Completion of Lindero leach pad expansion project at $51.8M, providing 10 years additional capacity
- Share buyback of 916,900 shares at $4.53/share average ($4.16M total)
Production by mine:
- Séguéla (Côte d'Ivoire): 38,500 GEOs
- Yaramoko (Burkina Faso): 33,073 GEOs
- Lindero (Argentina): 20,320 GEOs
- Caylloma (Peru): 11,566 GEOs
The company reiterates its 2025 guidance of 334,000-373,000 gold ounces and 0.9-1.0M silver ounces, or 380,000-422,000 GEOs.
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced the filing of its fiscal 2024 Form 40-F annual report with the U.S. Securities and Exchange Commission (SEC) on March 27, 2025. The comprehensive filing includes the company's annual audited financial statements, management's discussion and analysis, and annual information form.
The documents are accessible through both the company's website and the SEC's website. Fortuna shareholders can request printed copies of the annual financial statements at no cost by submitting a written request.
Fortuna Mining (NYSE: FSM | TSX: FVI) has announced its participation in the upcoming Mining Forum Europe 2025, scheduled to take place at the Park Hyatt in Zürich, Switzerland, from March 31 to April 2, 2025.
Jorge A. Ganoza, President, CEO, and co-founder of Fortuna, will deliver a presentation on Tuesday, April 1, at 2:10 p.m. Central European Time in Ballroom 3. The presentation will be available for live viewing through an online link.
Fortuna Mining (NYSE: FSM) has announced significant exploration results from its Séguéla Mine in Côte d'Ivoire. At the Kingfisher deposit, drilling intersected 7.2 g/t Au over 31.5 meters, with 100 drill holes totaling 10,978 meters completed of a planned 28,000-meter program. The company expects to convert Kingfisher resources into Mineral Reserves in 2025.
At the Sunbird deposit, deep exploration drilling revealed 4.3 g/t Au over 23.1 meters from 733 meters depth, representing the deepest intercept to date. Drilling has extended mineralization approximately 700 meters south beyond the current underground Inferred Resource and 600 meters below surface. The mineralization remains open at depth and down plunge.