Fortuna(US:FSM) Globenewswire·2026-02-19 03:43Core Insights - Fortuna Mining Corp. reported record free cash flow of $132.3 million for Q4 2025 and $330.0 million for the full year, achieving its operational plan and production guidance [1][8] - The company streamlined its portfolio by divesting non-core assets and is positioned for growth at Diamba Sud and the Séguéla plant expansion, supported by a strong balance sheet with $704 million in liquidity and $381 million in net cash [2][8] Financial Performance - The company achieved sales of $270.2 million in Q4 2025, a 40% increase from $195.2 million in Q4 2024, and $947.1 million for the full year, up from $677.2 million [11][60] - Attributable net income from continuing operations was $68.1 million or $0.22 per share for Q4 2025, compared to $14.7 million or $0.05 per share in Q4 2024, reflecting a 219% increase [11][26] - Adjusted attributable net income for Q4 2025 was $71.3 million or $0.23 per share, up from $19.4 million or $0.06 per share in Q4 2024, driven by higher realized gold prices [11][27] Operational Highlights - Gold equivalent production was 65,130 ounces in Q4 2025, with total production for the year reaching 317,001 GEOs, meeting annual guidance [9][11] - Consolidated cash cost per GEO was $971 for Q4 2025, a 9% increase from $918 in Q4 2024, while all-in sustaining costs (AISC) rose to $2,054 per GEO, an 18% increase from $1,842 in Q4 2024 [11][24][25] - The total recordable injury frequency rate for the year was 0.74, indicating strong safety performance with zero lost time injuries in Q4 [9] Growth and Development - The company expanded mineral reserves at the Séguéla mine by 31%, extending the mine life to over 9 years, and commissioned a feasibility study to increase plant throughput by 15 to 40% [12] - Approximately $67 million has been allocated to advance early works at the Diamba Sud Gold Project, with a construction decision targeted for mid-2026 [12] Cash Flow and Capital Expenditures - Net cash provided by operating activities for Q4 2025 was $162.3 million, up from $99.2 million in Q4 2024, driven by higher sales and favorable changes in working capital [22][30] - Free cash flow from ongoing operations in Q4 2025 was $132.3 million, a significant increase from $51.1 million in Q4 2024, reflecting higher cash from operating activities and reduced sustaining capital expenditures [23][30]