Financial Performance - Sales increased by 38% year-over-year to $251.4 million in Q3 2025[11, 12] - Operating income increased significantly by 204% year-over-year to $154.6 million[16] - Net cash from operating activities before working capital was $113.9 million, or $0.37 per share[3, 16] - Free cash flow from ongoing operations reached $73.4 million, up from $57.4 million in Q2 2025[3, 16] Production and Operations - Q3 production from continuing operations was 72,462 GEO (Gold Equivalent Ounces)[3, 5] - Séguéla Mine produced 38,799 ounces of gold with cash costs of $688/oz Au and AISC of $1,738/oz Au[5] - Lindero Mine produced 24,417 ounces of gold with cash costs of $1,117/oz Au and AISC of $1,570/oz Au[5] - Caylloma Mine produced 233,612 ounces of silver with cash costs of $17.92/oz Ag Eq and AISC of $25.17/oz Ag Eq[6] Diamba Sud Gold Project - The PEA (Preliminary Economic Assessment) for Diamba Sud projects an initial 3-year average production of 147,000 ounces of gold[6] - The Diamba Sud PEA estimates construction capital costs of $283.2 million[6] - The Diamba Sud PEA indicates an after-tax NPV5% of $563 million and an after-tax IRR of 72% at a gold price of $2,750/oz[6, 7]

Core Insights - Fortuna Mining Corp. reported strong financial and operational results for Q3 2025, with free cash flow from operations reaching $73.4 million, an increase of $16.0 million from Q2 2025, driven by higher gold prices and consistent mine performance [2][7][17] - The company maintained cash costs below $1,000 per ounce, with an all-in sustaining cost (AISC) of $1,987 per gold equivalent ounce, reflecting a slight increase from the previous quarter [2][12][20] - The balance sheet strengthened with nearly $600 million in liquidity and $265.8 million in net cash, positioning the company for high-impact growth initiatives [2][7][11] Financial Performance - Attributable net income from continuing operations was $123.6 million or $0.40 per share, a significant increase from $42.6 million or $0.14 per share in Q2 2025 [10][14] - Adjusted attributable net income was $51.0 million or $0.17 per share, up from $44.7 million or $0.15 per share in Q2 2025, primarily due to higher gold prices and sales volume [14][21] - Sales for the quarter totaled $251.4 million, a 40% increase compared to $181.7 million in Q3 2024 [10][11] Operational Highlights - Gold equivalent production from continuing operations was 72,462 ounces, a slight decrease of 1% from Q2 2025 [10][19] - The company achieved a consolidated cash cost of $942 per gold equivalent ounce, up from $929 in Q2 2025, while AISC increased from $1,932 to $1,987 [12][13] - The year-to-date Total Recordable Injury Frequency Rate (TRIFR) was 0.86, indicating strong safety performance with zero lost time injuries in the quarter [7] Growth and Business Development - A Preliminary Economic Assessment (PEA) for the Diamba Sud Gold Project confirmed robust project economics, with an after-tax internal rate of return (IRR) of 72% and a net present value (NPV) of $563 million [7][10] - The company is advancing the Diamba Sud project towards a Definitive Feasibility Study and construction decision in the first half of 2026 [7][10] - Capital expenditures for growth initiatives totaled $17.4 million, with significant investments in mine site exploration and the Diamba Sud project [17][18]

Core Insights - Fortuna Silver Mines Inc. (FSM) is a significant player in the mining industry, focusing on silver production and operating in Latin America and West Africa [1] - On November 5, 2025, FSM reported an earnings per share (EPS) of $0.190, slightly below the estimated $0.192, but generated revenue of approximately $246.75 million, exceeding the estimated $231.94 million [2][6] - The company's price-to-earnings (P/E) ratio is approximately 15.26, and the price-to-sales ratio is about 2.19, indicating a balanced market perception of FSM's financial health [3][6] - FSM's enterprise value to sales ratio is around 2.04, and the enterprise value to operating cash flow ratio is approximately 5.14, highlighting efficient resource utilization [4] - The company maintains a conservative capital structure with a low debt-to-equity ratio of 0.14 and a strong current ratio of approximately 2.71, ensuring financial stability and liquidity [5][6]

Core Insights - Fortuna Mining Corp. has reported successful exploration drilling results at the Sunbird Deposit, located at the Séguéla Mine in Côte d'Ivoire, indicating potential for resource growth and mine life extension [1][2]. Drilling Results - Recent drilling has extended high-grade mineralization at depth, confirming the development of a second underground shoot [1][2]. - Significant intersections include: - 5.2 g/t Au over an estimated true width of 6.3 meters from 787 meters in drill hole SGRD2460 [2]. - 6.0 g/t Au over an estimated true width of 11.9 meters from 669 meters in drill hole SGRD2461 [2][5]. - 7.3 g/t Au over an estimated true width of 16.1 meters from 688 meters in drill hole SGRD2434 [3]. - 19.2 g/t Au over an estimated true width of 1.4 meters from 688 meters in drill hole SGRD2434 [3]. - 57.9 g/t Au over an estimated true width of 0.7 meters from 702 meters in drill hole SGRD2434 [3]. - A total of 40 drill holes, totaling 15,088 meters, have been completed as part of the underground resource confidence infill and extension program [3][4]. Mineralization Potential - The mineralization remains open at depth and along strike, with ongoing drilling expected to continue through the end of 2025 [6]. - The main shoot's mineralization now extends more than 1.3 kilometers down plunge, approximately 700 meters below the surface [4]. - The second high-grade shoot has been identified extending at least 900 meters down plunge from the pit base [5]. Future Plans - An underground study has been initiated to further assess the high-grade strike defined below Sunbird, with five drill rigs continuing to advance drilling efforts [2][4].

Core Viewpoint - Fortuna Mining Corp. has reported successful exploration drilling results at the Sunbird Deposit in Côte d'Ivoire, indicating potential for resource growth and mine life extension through the discovery of high-grade mineralization at depth and the development of a second underground shoot [1][2]. Exploration Results - Recent drilling has extended the central mineralized zone by 150 meters down plunge, with significant intersections including 5.2 g/t Au over 6.3 meters from 787 meters in drill hole SGRD2460 [2][4]. - The lower shoot has been extended by 200 meters down plunge, with highlights including 6.0 g/t Au over 11.9 meters from 669 meters in drill hole SGRD2461 [2][5]. - A total of 40 drill holes, amounting to 15,088 meters, have been completed as part of the underground resource confidence infill and extension program [3]. High-Grade Intersections - Notable drill results include: - SGRD2434: 7.3 g/t Au over 16.1 meters from 688 meters, including 19.2 g/t Au over 1.4 meters [3]. - SGRD2444: 8.3 g/t Au over 11.9 meters from 448 meters [3]. - SGRD2452: 9.0 g/t Au over 5.6 meters from 658 meters, including 25.0 g/t Au over 1.4 meters [3]. - SGRD2460: 5.2 g/t Au over 6.3 meters from 787 meters [4]. - SGRD2461: 6.0 g/t Au over 11.9 meters from 669 meters [5]. - SGRD2470: 15.6 g/t Au over 5.6 meters from 483 meters [3]. Future Plans - The company has initiated an underground study to further assess the high-grade mineralization, with five drill rigs continuing to advance drilling aimed at expanding the mineralized envelope [2][5].

Group 1 - Fortuna Mining (FSM) is a notable stock in the Basic Materials sector, currently outperforming its peers with a year-to-date gain of approximately 90.2%, compared to the sector average of 23.4% [4] - FSM holds a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions, with a 2% increase in the consensus estimate for full-year earnings over the past three months [3] - The Mining - Miscellaneous industry, which includes FSM, has an average gain of 27.8% this year, further highlighting FSM's strong performance within its specific industry [6] Group 2 - Integra Resources Corp. (ITRG) is another stock in the Basic Materials sector that has shown exceptional performance, with a year-to-date return of 232.2% [4] - ITRG also holds a Zacks Rank of 2 (Buy), with a significant 55.9% increase in the consensus EPS estimate over the past three months [5] - Both Fortuna Mining and Integra Resources Corp. are recommended for investors interested in Basic Materials stocks due to their solid performance [7]

Core Points - Fortuna Mining Corp. will release its financial statements and MD&A for Q3 2025 on November 5, 2025, after market close [1] - A conference call to discuss the results will take place on November 6, 2025, at 9:00 a.m. Pacific time [2] - The call will be hosted by key executives including the President and CEO, CFO, and COOs for Latin America and West Africa [2] Conference Call Details - Date: November 6, 2025 [4] - Time: 9:00 a.m. Pacific time | 12:00 p.m. Eastern time [4] - Dial-in numbers: Toll-Free +1.888.506.0062, International +1.973.528.0011 [4] - Access code for the call: 360013 [4] - Replay options available until November 20, 2025, for the call and until November 6, 2026, for the webcast [4] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, and a gold project in Senegal [5] - The company focuses on sustainability, producing gold and silver while emphasizing environmental stewardship and social responsibility [5]

Core Insights - Fortuna Mining Corp. has released a Preliminary Economic Assessment (PEA) for the Diamba Sud Gold Project in Senegal, indicating strong project economics with a gold price of $2,750 per ounce, resulting in an after-tax NPV5% of $563 million and an IRR of 72% [2][30][41]. Project Overview - The PEA supports the development of an open-pit mine and a conventional carbon-in-leach (CIL) processing plant, projecting an average annual production of 147,000 ounces of gold in the first three years at an All-In Sustaining Cost (AISC) of $904 per ounce [2][5][30]. - The total mineralized material mined is estimated at 17.75 million tonnes, containing 932,000 ounces of gold, with a life of mine (LOM) of 8.1 years [5][10]. Financial Metrics - The construction capital cost is estimated at approximately $283.2 million, with a payback period of ten months [3][30]. - Average operating cash costs over the LOM are projected at $1,081 per ounce, with AISC averaging $1,238 per ounce [6][30]. Exploration and Development - Ongoing exploration is expected to enhance the LOM production profile beyond a decade, with five drill rigs currently active [4][8]. - A supplementary budget of $17 million has been approved to advance early construction works and detailed engineering activities [4][40]. Environmental and Permitting - Fortuna has filed an Environmental and Social Impact Assessment (ESIA) as part of the permitting process, marking a significant milestone [38]. - The company anticipates applying for an exploitation permit before the expiration of its exploration permit in June 2026 [39]. Next Steps - The Definitive Feasibility Study (DFS) is expected to be completed by the end of the second quarter of 2026, with a construction decision anticipated shortly thereafter [41][42].

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2] - Fortuna Mining (FSM) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3][12] Price Performance - FSM shares have increased by 3% over the past week, while the Zacks Mining - Miscellaneous industry has risen by 3.45% [6] - Over the past month, FSM's price change is 6.17%, compared to the industry's 19.69% [6] - In the last quarter, FSM shares have risen by 39.41%, and by 90.43% over the past year, significantly outperforming the S&P 500, which increased by 7.89% and 17.66% respectively [7] Trading Volume - FSM's average 20-day trading volume is 24,859,964 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Estimates - In the past two months, two earnings estimates for FSM have been revised upwards, with the consensus estimate increasing from $0.69 to $0.79 [10] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [10] Overall Assessment - FSM is rated as a 2 (Buy) stock with a Momentum Score of A, making it a strong candidate for investors seeking momentum opportunities [12]

Core Viewpoint - Fortuna Mining Corp. reported its production results for Q3 2025, maintaining its annual production guidance of 309,000 to 339,000 gold equivalent ounces (GEO) for the year [2][3]. Q3 2025 Highlights - Total GEO production from ongoing operations was 72,462 ounces, slightly down from 75,950 ounces in Q2 2025 [3]. - The company produced 251,871 ounces of GEO in the first nine months of 2025 [3]. Production by Mine Séguéla Mine, Côte d'Ivoire - Q3 2025 production was 38,799 ounces, up from 38,186 ounces in Q2 2025, with a gold grade of 3.01 g/t [4][9]. - The mine is on track to exceed the upper end of its guidance of 134,000 to 147,000 ounces for 2025, having produced 115,484 ounces year-to-date [4][11]. Lindero Mine, Argentina - Lindero achieved its highest quarterly production of the year with 24,417 ounces in Q3 2025, a 4% increase from Q2 2025 [12][15]. - The average gold grade increased to 0.60 g/t, and a total of 1.70 million tonnes of ore were placed on the leach pad [12][15]. Caylloma Mine, Peru - Caylloma produced 9,246 ounces of GEO in Q3 2025, with silver production at 233,612 ounces and lead and zinc production at 8.5 million and 12.0 million pounds, respectively [18][21][25]. - The mine's performance was consistent with the previous quarter, although base metal production saw a decline [21]. Operational Updates - The company successfully obtained permit approvals for several satellite open pits, with mining preparation for the Sunbird open pit set to begin in Q4 2025 [7]. - Exploration activities at the Sunbird underground project and Kingfisher Deposit are ongoing, with drilling expected to continue in Q4 2025 [8]. Year-to-Date Production - Total production for the first nine months of 2025 includes 115,484 ounces from Séguéla, 68,288 ounces from Lindero, and 30,305 ounces from Caylloma [11][17][25].