Core Insights - Fortuna Mining Corp. has completed the sale of its non-core San Jose mine in Mexico and is exiting Burkina Faso by selling the Yaramoko mine, indicating a strategic shift in its operations [1][5] Sale of San Jose Mine - The San Jose mine was operated for thirteen years, producing 2.5 million ounces of silver and 17,811 ounces of gold in 2024, but was placed on care and maintenance due to high operating costs and depleting reserves [2] - The buyer, RC Ingeniería y Construcción S.A.C., paid an upfront amount of $6.5 million, with an additional $1.2 million expected by April 30, 2025, and potential future payments of up to $8.3 million [3][4] Exit from Burkina Faso - Fortuna Mining has signed an agreement to sell its interest in Roxgold Sanu SA, which owns the Yaramoko mine, and other subsidiaries, with the deal expected to close in the second quarter of 2025 [5] - Yaramoko produced 116,206 ounces of gold in 2024 and 33,073 ounces in the first quarter of 2025, but had a remaining mine life of only one and a half years as of December 31, 2024 [6] Financial Implications - The sale of Yaramoko will save Fortuna Mining approximately $20 million in future mine closure liabilities and provide additional liquidity for strategic objectives [7] - Fortuna Mining will receive around $130 million from the Yaramoko sale, including $70 million at closing and $57.5 million in cash dividends, along with potential value-added tax receivables [8] Future Operations - Post-sale, Fortuna Mining will no longer have operations in Burkina Faso and will focus on its remaining assets, including the Séguéla mine in Côte d'Ivoire, Lindero mine in Argentina, and Caylloma mine in Peru [9] Stock Performance - Fortuna Mining shares have increased by 41.5% over the past year, contrasting with a 17.7% decline in the industry [11]

VANCOUVER, British Columbia, April 14, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce the successful completion of the sale of its 100 percent interest in Compañia Minera Cuzcatlan S.A. de C.V. (“Cuzcatlan”) to JRC Ingeniería y Construcción S.A.C. (“JRC”), a private Peruvian company (the “Transaction”). Cuzcatlan is the owner of a 100 percent interest in the San Jose Mine in the state of Oaxaca, Mexico. The Transaction closed simultaneously with the execution of ...

Core Viewpoint - Fortuna Silver Mines Inc. reported a decrease in gold equivalent production in Q1 2025, while gold production showed a slight increase year-over-year [1]. Group 1: Production Performance - Fortuna Silver produced 103,459 gold equivalent ounces in Q1 2025, an 8.1% decrease from the same quarter last year, with gold production at 91,893 ounces, reflecting a 2.5% year-over-year increase [1]. - The Séguéla mine in Côte d'Ivoire contributed 38,500 ounces of gold in Q1 2025, with an expected annual production range of 134,000-147,000 ounces for 2025 [2]. - The Yaramoko Mine in Burkina Faso produced 33,073 ounces of gold, a 12% sequential increase, with expected production between 107,000 and 121,000 ounces for 2025 [3]. - The Lindero mine in Argentina saw a decline in Q1 gold production to 20,320 ounces, down 24% sequentially, with an annual guidance of 93,000-105,000 ounces for 2025 [3]. - The Caylloma mine in Peru produced 242,993 ounces of silver in Q1, with gold output at 11,566 ounces, both lower than the previous quarter [4]. Group 2: Future Guidance - Fortuna Silver anticipates lower production in 2025 due to the expected sale of the San Jose Mine, with gold production guidance set at 334,000-373,000 ounces and silver production guidance at 0.9-1 million ounces [5]. Group 3: Stock Performance - Fortuna Silver's shares have increased by 35.1% over the past year, contrasting with an 18.1% decline in the industry [6].

Core Viewpoint - Fortuna Mining Corp. reported its production results for Q1 2025, maintaining its annual production guidance for gold and silver while highlighting operational performance across its mines in West Africa and Latin America [1][3]. Q1 2025 Highlights - The company reiterated its 2025 annual production guidance of 334,000 to 373,000 ounces of gold and 0.9 to 1.0 million ounces of silver, translating to 380,000 to 422,000 gold equivalent ounces (GEOs) [3]. - Total GEO production for Q1 2025 was 103,459 ounces, a decrease from 112,543 ounces in Q1 2024 and 116,358 ounces in Q4 2024 [6]. Production by Mine West Africa Region - **Séguéla Mine, Côte d'Ivoire**: Produced 38,500 ounces of gold with a gold grade of 2.76 g/t, showing a 9% increase in production compared to Q4 2024 [5][9]. - **Yaramoko Mine, Burkina Faso**: Achieved gold production of 33,073 ounces at an average grade of 7.81 g/t, a 12% increase in production despite a 15% decrease in grade [10][11]. Latin America Region - **Lindero Mine, Argentina**: Produced 20,320 ounces of gold, a 24% decrease from Q4 2024, attributed to lower ore grades and timing in leaching [13][15]. - **Caylloma Mine, Peru**: Produced 242,993 ounces of silver and 11,566 ounces of gold equivalent, maintaining consistent production levels compared to the previous quarter [17][19]. Operational Developments - The Lindero leach pad expansion project was completed on time and within budget at a cost of $51.8 million, expected to support production for an additional 10 years [6][16]. - Resource upgrade drilling and project studies are ongoing at the Kingfisher and Sunbird underground deposits, aiming for integration into the life of mine plan later this year [8].

Group 1 - Fortuna Mining Corp. will attend the Mining Forum Europe from March 31 to April 2, 2025, in Zürich, Switzerland [1] - Jorge A. Ganoza, the President and CEO of Fortuna, will present on April 1 at 2:10 p.m. Central European Time [1] - Mining Forum Europe is the only independent investment event in Europe focused on the mining industry and its investors, showcasing private and publicly traded precious metal equities [2] Group 2 - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru, and has a gold project in Senegal [3] - The company emphasizes sustainability in its operations, focusing on efficient production, environmental protection, and social responsibility [3]

Fortuna Mining (FSM) ended the recent trading session at $5.42, demonstrating a +1.5% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.91%. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.Prior to today's trading, shares of the silver and gold miner had lost 0.37% over the past month. This has was narrower than the Basic Materials sector's loss of 3.32% and the S&P 500's loss of 7.38% in that tim ...

VANCOUVER, British Columbia, March 13, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE:FSM, TSX:FVI) is pleased to provide an update on its exploration programs at the Séguéla Mine in Côte d'Ivoire. Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, "Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit, with several notable intersections including 7.2 g/t Au over an estimated ...

Financial Data and Key Metrics Changes - The company achieved record free cash flow from operations of $19.6 million in Q4 2024, a 69% increase compared to Q3 2024 [7] - Net cash from operations before changes in working capital reached a record $142 million or $0.46 per share, exceeding analysts' consensus of $0.40 [7] - For the full year 2024, sales surpassed $1 billion for the first time [7] - The average gold price realized in Q4 was $2,660, a 7% increase quarter-over-quarter, contributing to a 10% increase in revenue to $302 million [8] - Cash costs per ounce decreased by 4%, leading to an expansion of operating cash flow margin from 33% to 50% [8] Business Line Data and Key Metrics Changes - Seguela mine produced 35,244 ounces of gold in Q4 2024, a 1% improvement from the previous quarter, and delivered 137,781 ounces in its first full year [17] - Yaramoko mine produced 29,576 ounces of gold in Q4 2024, a 6% improvement from the previous quarter, totaling 116,206 ounces for the year [17] - Lindero mine produced 26,806 ounces of gold in Q4 2024, a 10% improvement over the previous quarter [27] - Caylloma mine produced 249,238 ounces of silver in Q4 2024, with zinc and lead production totaling 13.9 million pounds and 9.5 million pounds respectively [32] Market Data and Key Metrics Changes - The company reported a cash cost of $653 per ounce for Seguela in Q4, outperforming guidance at $584 per ounce for the year [20] - Yaramoko's cash cost was $812 per ounce for Q4 and $860 per ounce for the year, also outperforming guidance [23] - Lindero's cash cost was $1,063 per ounce with an AISC of $1,873 per ounce in Q4, reflecting a 5% decrease in AISC compared to the previous quarter [30] Company Strategy and Development Direction - The company plans to divest its non-core San Jose mine in Mexico to refocus capital on high-value opportunities [13] - The Seguela mine is expected to reach gold production of 160,000 to 180,000 ounces by 2026 at an AISC of $1,260 to $1,390 per ounce [13] - The company is investing $51 million in 2025 for exploration and development projects across various regions [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in expanding margins and generating strong cash flow due to stable costs and rising gold prices [6] - The company anticipates stable to lower cash costs in 2025, with a range of $895 to $1,015 per ounce [8] - Management acknowledged a tragic accident at the Seguela mine but reaffirmed commitment to a zero-harm work environment [15] Other Important Information - The company returned $30.5 million to shareholders via share buybacks in Q4 2024 [11] - Total liquidity at the end of the quarter was $381 million, down from $430 million in the prior quarter [49] - The company recorded a foreign exchange loss of $12.6 million for the full year, primarily due to the devaluation of the euro against the U.S. dollar [43] Q&A Session Summary Question: What is the outlook for the San Jose mine? - The San Jose mine has been placed in care and maintenance as the company engages in the sale process [26] Question: How is the company managing costs in light of currency fluctuations? - The company noted that cash costs and AISC are aligned with annual guidance, despite the appreciation of the Argentine peso [42] Question: What are the expectations for production in 2025? - The company is optimistic about production growth, particularly in West Africa, and expects to enhance production further [24]

Fortuna Mining Corp. (FSM) reported fourth-quarter 2024 adjusted earnings per share of 11 cents, which missed the Zacks Consensus Estimate of 16 cents. The bottom line marked a solid 57% year-over-year improvement. Results were aided by higher gold prices, partially offset by lower gold sales volume.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Including the impacts of impairment charges and other non-recurring items, Fortuna Mining reported earnings of 4 cents per share in the fo ...

Core Insights - Fortuna Mining Corp reported strong financial and operational results for Q4 and full year 2024, highlighting record free cash flow and significant returns to shareholders through share buybacks. Cash and Cashflow - The company achieved record free cash flow of $95.6 million in Q4 2024, a 69% quarter-over-quarter improvement, and $202.9 million for the full year 2024 [8] - Quarter-end cash increased to $231.3 million, up $50.7 million from the previous quarter, reflecting strong growth in free cash flow [8] - Net cash from operations before working capital adjustments was $141.6 million in Q4, a 21% increase quarter-over-quarter [14] Profitability - Attributable net income for Q4 was $11.3 million, a significant recovery from a net loss of $92.3 million in Q4 2023, driven by reduced non-cash charges [18] - Adjusted attributable net income was $37.0 million or $0.12 per share in Q4, compared to $20.6 million or $0.07 per share in Q4 2023 [19] - The realized gold price increased to $2,662 per ounce in Q4 2024, compared to $1,990 per ounce in Q4 2023 [20] Operational Performance - Gold equivalent production reached 116,358 ounces in Q4 and a record 455,958 ounces for the full year 2024, meeting the low end of annual guidance [8] - Consolidated cash cost per gold equivalent ounce was $1,015 in Q4, up from $840 in Q4 2023, primarily due to lower head grades [16] - The Séguéla mine produced 137,781 ounces in 2024, with plans to increase annual production to 160,000 to 180,000 ounces by 2026 [6][35] Growth and Development - The company invested $49.0 million in mineral exploration and project development in 2024, with a budget of $51.0 million for 2025 [8] - The sale of the non-core San Jose mine is expected to refocus capital and management's attention on higher-value opportunities [6] - Capital expenditures for sustaining and non-sustaining projects were reported, with a notable increase in non-sustaining expenditures due to exploration activities [10][38] Safety and Environmental Performance - The company maintained strong safety performance in 2024, achieving a Total Recordable Injury Frequency Rate (TRIFR) of 1.36 and a Lost Time Injury Frequency Rate (LTIFR) of 0.48, consistent with top industry standards [8]