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 Silver Mines (NYSE: FSM | TSX: FVI) has released its 2023 Sustainability Report, highlighting key ESG performance metrics. The report details significant progress in tailings management, climate change initiatives, and overall safety performance. Notable improvements include a reduction in the Total Recordable Incident Frequency Rate (TRIFR) from 2.67 in 2022 to 1.22 in 2023 and an increase in ISO 45001 and ISO 14001 certifications. Additionally, there was a reduction in carbon intensity and freshwater consumption, with 63% of water usage from recycling. Financial contributions to governments and communities also rose, with $74.4 million paid in government contributions and $8.5 million allocated to community development. However, the report noted one fatality at the Caylloma Mine.
Fortuna Silver Mines announced that its Yaramoko Mine in Burkina Faso achieved the one-million-ounce gold pour milestone on May 19, 2024. Production commenced on May 16, 2016, and Fortuna acquired the mine on July 2, 2021. As of December 31, 2023, the mine has a remaining life of two years, with Proven and Probable Mineral Reserves of 219,000 ounces of gold. The 2024 exploration budget is set at $6.1 million for 41,450 meters of drilling. The mine has not recorded any Lost Time Injury Incidents for over 3.5 years, covering 9 million working hours. About 52% of the 900-strong workforce hails from neighboring communities.
Fortuna Silver Mines Inc. reported financial results for Q1 2024 with $26.3 million net income, $84.3 million cash flow, and $40 million debt repayment. Operational highlights include 112,543 gold equivalent production, shareholder capital return, and new prospects at Séguéla. Despite a decrease in production and higher costs at San Jose, the company maintains a strong liquidity position.
Fortuna Silver Mines Inc. (NYSE: FSM) has renewed its share repurchase program, approved by the Toronto Stock Exchange. The company plans to repurchase up to five percent of its outstanding common shares through the NCIB, starting on May 2, 2024. The program aims to enhance shareholder value by buying back undervalued shares, with a limit of 15,287,201 common shares to be repurchased and cancelled. Fortuna will base its repurchase decisions on financial performance, cash flow, and regulatory restrictions.
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