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. (NYSE: FSM, TSX: FVI) generates a steady flow of news related to its precious metals mining operations in Latin America and West Africa. As a Canadian company with three operating mines and a portfolio of exploration projects in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal, its disclosures cover production performance, project development, exploration results, and corporate actions.
News updates frequently focus on quarterly and annual production, expressed in gold equivalent ounces (GEO) that combine gold, silver, lead, and zinc. Recent releases detail record gold production at the Séguéla Mine in Côte d’Ivoire, consolidated GEO output from ongoing operations, and guidance ranges for future GEO production, cash costs, and all-in sustaining costs. Operational updates also describe mine-specific events, such as mechanical downtime and subsequent remediation at the Lindero Mine in Argentina, and strong base metal production at the Caylloma Mine in Peru.
Investors following FSM news will also see extensive coverage of growth projects and exploration. Fortuna reports on Mineral Reserve and Mineral Resource updates at Séguéla, underground studies at the Sunbird deposit, and drilling results that expand mineralization at both Séguéla and the Diamba Sud Gold Project in Senegal. Technical milestones, including the filing of NI 43-101 reports and the award of feasibility and plant expansion studies, are regular topics.
Corporate and financial news items include quarterly financial results, liquidity and net cash positions, and share repurchases under the company’s normal course issuer bid. Together, these updates provide context on Fortuna’s operating performance, project pipeline, and capital allocation. Bookmark this page to review the latest FSM production reports, exploration results, technical studies, and regulatory announcements as they are released.
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.
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.
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