Core Insights - Fortuna Mining Corp. (FSM) produced 71,229 gold equivalent ounces (GEO) in Q2 2025, a 0.2% decrease year-over-year but a 1.2% increase from Q1 2025. Gold production was 61,736 ounces, reflecting a 10.2% year-over-year increase [1][8] Group 1: Mine Performance - FSM completed the sale of its San Jose and Yaramoko mines in April and May 2025, respectively, and currently operates three mines [2] - The Séguéla mine in Côte d'Ivoire produced 38,186 ounces of gold in Q2 2025, down 1% from the previous quarter, with an expected annual production range of 134,000-147,000 ounces for 2025 [2] - The Lindero mine in Argentina saw a gold production of 23,550 ounces in Q2, up 16% sequentially, with an annual guidance of 93,000-105,000 ounces for 2025 [3] - The Caylloma mine in Peru produced 240,621 ounces of silver in Q2, slightly lower than the previous quarter's 242,993 ounces, with GEO output of 9,493 ounces, down from 11,566 ounces in Q1 2024 [3] Group 2: Production Guidance and Costs - Following the sale of the Yaramoko mine, FSM updated its 2025 production guidance to 309,000-339,000 ounces of gold equivalent, down from the previous range of 380,000-422,000 ounces, indicating an 18% year-over-year dip at the midpoint [5][8] - The all-in sustaining cost for 2025 is now expected to be between $1,670 and $1,765 per GEO, an increase from the prior estimate of $1,550 to $1,680, primarily due to the exclusion of the Yaramoko mine's contribution [6] Group 3: Stock Performance - FSM shares have increased by 21.3% over the past year, contrasting with a 0.1% decline in the industry [7]

VANCOUVER, British Columbia, July 09, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the second quarter of 2025 from its three operating mines located in West Africa and Latin America. Q2 2025 highlights Gold production from ongoing operations of 61,736 ounces; compared to 56,000 oz Au in Q2 20241,2 and 58,820 oz Au in Q1 20251,3Gold equivalent production from ongoing operations of 71,229 ounces4 compared to 71,368 gold equivalent ounces (GEO) in Q2 20241 ...

Core Viewpoint - Fortuna Mining Corp. reported its production results for Q2 2025, highlighting a total consolidated gold equivalent ounces (GEO) production of 75,950 ounces, with ongoing operations contributing 71,229 ounces, and reaffirmed its annual production guidance for 2025 in the range of 309,000 to 339,000 GEO [3][4][6]. Production Highlights - Total consolidated GEO production for the first half of 2025 reached 179,409 ounces, including by-product credits from lead and zinc [3]. - Ongoing operations produced 71,229 ounces in Q2 2025, slightly up from 70,386 ounces in Q1 2025 [4]. - The Séguéla Mine in Côte d'Ivoire produced 38,186 ounces of gold in Q2 2025, with a gold grade of 3.00 g/t, while Lindero Mine in Argentina produced 23,550 ounces, and Caylloma Mine in Peru produced 9,493 ounces of gold equivalent [4][11][18]. Mine-Specific Performance - **Séguéla Mine**: - Produced 38,186 ounces of gold in Q2 2025, with a slight decrease in production but an increase in grade compared to Q1 2025 [7]. - Year-to-date production reached 76,686 ounces, aligning with the upper end of annual guidance [8]. - **Yaramoko Mine**: - The mine was sold in May 2025, with Q2 production of 4,721 ounces, significantly down from 33,073 ounces in Q1 2025 [9][10]. - **Lindero Mine**: - Produced 23,550 ounces in Q2 2025, a 16% increase from Q1 2025, driven by higher gold grades and increased ore placement [13]. - Year-to-date production totaled 43,870 ounces [15]. - **Caylloma Mine**: - Produced 240,621 ounces of silver and 9,493 GEO in Q2 2025, maintaining consistent production levels [16][18]. Operational Efficiency - The Lindero Mine's photovoltaic plant generated 1 million kWh in June 2025, supplying 26% of its power demand and eliminating the need for 286,300 liters of diesel, contributing to cost efficiency and reduced emissions [14]. - The crushing plant capacity at Lindero was enhanced, achieving an average throughput of 1,050 tonnes per hour in Q2 2025, which is 11% above the 2024 average [15].

Core Points - Fortuna Mining Corp. held its 2025 annual general meeting of shareholders, with 188,888,907 common shares represented, accounting for 61.54% of the total issued and outstanding shares [2] - Shareholders voted in favor of all business matters, including the appointment of auditors and the election of all director nominees listed in the Management Information Circular dated May 1, 2025 [2] Voting Results - Jorge A. Ganoza received 159,475,985 votes (99.48% for) with 831,198 votes withheld (0.52%) [2] - David Laing received 154,870,542 votes (96.61% for) with 5,436,641 votes withheld (3.39%) [2] - Mario Szotlender received 154,344,778 votes (96.28% for) with 5,962,405 votes withheld (3.72%) [2] - David Farrell received 148,807,290 votes (92.83% for) with 11,499,893 votes withheld (7.17%) [2] - Alfredo Sillau received 158,876,299 votes (99.11% for) with 1,430,884 votes withheld (0.89%) [2] - Kylie Dickson received 159,252,340 votes (99.34% for) with 1,054,844 votes withheld (0.66%) [2] - Kate Harcourt received 159,513,569 votes (99.50% for) with 793,615 votes withheld (0.50%) [2] - Salma Seetaroo received 159,228,957 votes (99.33% for) with 1,078,227 votes withheld (0.67%) [2] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, and exploration activities including the Diamba Sud Gold Project in Senegal [3] - The company focuses on sustainability, producing gold and silver while generating long-term shared value for stakeholders through efficient production, environmental protection, and social responsibility [3]

Company Performance - Fortuna Mining (FSM) experienced a daily gain of +2.31%, closing at $6.63, outperforming the S&P 500's gain of 0.8% [1] - Prior to the recent trading session, Fortuna Mining shares had increased by 8.54%, surpassing the Basic Materials sector's gain of 2.02% and the S&P 500's gain of 5.12% [1] Earnings Estimates - For the fiscal year, Zacks Consensus Estimates project earnings of $0.7 per share and revenue of $0 million, reflecting a +52.17% change in earnings from the prior year, while revenue remains unchanged [2] - Recent changes to analyst estimates for Fortuna Mining indicate evolving short-term business trends, with positive revisions seen as a favorable sign for the business outlook [2] Stock Valuation - Fortuna Mining is currently trading at a Forward P/E ratio of 9.26, which is below the industry average Forward P/E of 18.06, indicating that Fortuna Mining is trading at a discount compared to its peers [5] - The Mining - Miscellaneous industry, which includes Fortuna Mining, has a Zacks Industry Rank of 156, placing it in the bottom 37% of over 250 industries [5] Zacks Rank System - Fortuna Mining holds a Zacks Rank of 3 (Hold), with the Zacks Rank system showing a strong track record of exceeding expectations, particularly with stocks rated 1 delivering an average annual return of +25% since 1988 [4]

Company Performance - Fortuna Mining (FSM) closed at $6.75, reflecting a -2.17% change from the previous day, underperforming the S&P 500's daily loss of 0.03% [1] - Over the past month, FSM shares gained 21.69%, significantly outperforming the Basic Materials sector's gain of 3.05% and the S&P 500's gain of 0.6% [1] Earnings Expectations - Analysts expect Fortuna Mining to report earnings of $0.7 per share and revenue of $0 million for the full year, indicating a +52.17% change in earnings from last year [2] - There has been no change in the Zacks Consensus EPS estimate over the past month [5] Analyst Sentiment - Recent adjustments to analyst estimates for Fortuna Mining reflect near-term business trends, with positive revisions indicating optimism regarding the company's profitability [3] - Fortuna Mining currently holds a Zacks Rank of 2 (Buy), suggesting favorable analyst sentiment [5] Valuation Metrics - Fortuna Mining has a Forward P/E ratio of 9.86, which is a discount compared to its industry's Forward P/E of 20.12 [6] - The Mining - Miscellaneous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 153, placing it in the bottom 38% of over 250 industries [6] Industry Performance - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Group 1 - Franco-Nevada (FNV) is currently outperforming the Basic Materials sector with a year-to-date return of 46.1%, compared to the sector's average return of 9.3% [4] - The Zacks Rank for Franco-Nevada is 1 (Strong Buy), indicating strong analyst sentiment and a positive earnings outlook, with a consensus estimate for full-year earnings having increased by 20.5% in the past quarter [3] - Franco-Nevada belongs to the Mining - Gold industry, which has seen an average gain of 58.4% year-to-date, indicating that FNV is slightly underperforming its industry [5] Group 2 - Fortuna Mining (FSM), another stock in the Basic Materials sector, has outperformed with a year-to-date return of 60.4% [4] - Fortuna Mining has a Zacks Rank of 2 (Buy), with its consensus EPS estimate increasing by 12% over the past three months [5] - The Mining - Miscellaneous industry, to which Fortuna Mining belongs, is currently ranked 138 and has moved up by 10.9% year-to-date [6]

Core Insights - Fortuna Mining Corp. (FSM) has acquired 15,037,593 common shares of Awalé Resources Limited, securing a 15% stake, which aligns with its long-term growth strategy to enhance its exploration pipeline in Côte d'Ivoire [1][7] - The acquisition was made through a non-brokered private placement at a price of $0.399 per share, totaling $6 million [2][7] Strategic Portfolio Optimization - FSM has been actively optimizing its portfolio, recently closing the sale of its interest in Roxgold Sanu and three other subsidiaries to Soleil Resources International Ltd., resulting in no longer holding a stake in the Yaramoko Mine [3] - In April 2025, FSM sold its non-core San Jose mine in Mexico, and with the sale of Yaramoko, it will cease operations in Burkina Faso, focusing on its Séguéla mine in Côte d'Ivoire, Lindero mine in Argentina, Caylloma mine in Peru, and Diamba Sud Gold Project in Senegal [4][5] - The decision to sell the Yaramoko mine was influenced by its limited remaining life and challenging operating conditions, providing additional liquidity to focus on strategic objectives [5] Financial Performance - Following the recent transactions, FSM's first-quarter cash and short-term investments have exceeded $380 million, with liquidity surpassing $530 million, and approximately $50 million in capital being reallocated [5] - FSM's shares have appreciated by 41% over the past year, significantly outperforming the industry average growth of 1.4% [6]

Core Viewpoint - Fortuna Mining Corp. has acquired 15,037,593 common shares of Awalé Resources Limited, representing approximately 15% of Awalé's issued shares, to strengthen its exploration pipeline in Côte d'Ivoire [1][2]. Acquisition Details - The shares were acquired at a cost of US$0.399 per share, totaling gross proceeds of US$6,000,000 [2]. - Prior to this acquisition, Fortuna owned no shares of Awalé [2]. Strategic Importance - The Odienné Project in Côte d'Ivoire is viewed as a compelling opportunity for Fortuna, with an experienced in-country exploration team ready to support advancements from discovery to production [2]. - The investment aligns with Fortuna's long-term growth strategy and enhances its exploration capabilities in the region [2]. Investor Rights Agreement - Fortuna has entered into an Investor Rights Agreement with Awalé, granting pre-emptive rights for future equity financings and top-up rights to maintain its interest in Awalé [5]. - These rights will be maintained as long as Fortuna holds a 10% or greater interest in Awalé [5]. Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, focusing on sustainability and long-term stakeholder value [6].

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