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].

Group 1 - Spot gold experienced a daily decline of 1.0%, priced at $3318.4 per ounce [1] - Gold and silver mining stocks generally weakened, with Harmony Gold down 4%, FSM down over 3.2%, AEM and Newmont Mining down 2.9%, Kinross Gold down 2.8%, Hecla Mining down 2.6%, gold mining stock ETFs down 2.3%, and the gold miners factor index ETF down 1.9% [1] - The yield on the 10-year U.S. Treasury bond maintained an increase of over 7 basis points, stabilizing around a daily high of 4.4777% following the release of the U.S. non-farm payroll report [1] Group 2 - The yield on the 2-year U.S. Treasury bond narrowed its increase to 8.3 basis points, approaching the psychological level of 4%, having risen from around 3.91% to nearly 4.03% after the non-farm payroll report [1] - The U.S. dollar index's increase narrowed to 0.4%, nearing 99.10, while the dollar against the yen maintained an increase of over 0.9%, stabilizing around a daily high of 144.98 [1]

Endeavour Silver Corporation (EXK) reported break-even earnings per share in the first quarter of 2025. The bottom line, however, missed the Zacks Consensus Estimate of earnings of three cents per share. Including one-time items, EXK reported a loss of 13 cents per share in the first quarter of 2025 compared with a loss of one cent in the first quarter of 2024. Endeavour Silver’s Q1 Revenues Flat Y/YThe company’s revenues were flat year over year at $64 million as gains from higher prices for silver and gol ...

Core Insights - Avino Silver & Gold Mines Ltd. (ASM) reported a significant increase in earnings per share, reaching 7 cents for Q1 2025, a 250% rise from 2 cents in Q1 2024, driven by higher metal prices [1] - The company's revenues surged by 52% year over year to $19 million, exceeding the Zacks Consensus Estimate of $18 million [2] - Avino Silver achieved a record mine-operating profit of $10.6 million, a 352% increase from $2.3 million in the previous year [3] Financial Performance - The earnings per share surpassed the Zacks Consensus Estimate of 3 cents, with one-time items included, resulting in earnings of 4 cents compared to break-even in the same quarter last year [1] - EBITDA for the quarter was reported at $9.7 million, a 466% increase from $1.7 million in the year-ago quarter [3] - Cash costs decreased by 15% to $12.62 per silver equivalent payable ounce, while consolidated all-in sustaining costs were slightly lower at $20.08 compared to $20.23 in Q1 2024 [2] Production Metrics - Avino Silver produced 678,458 silver equivalent ounces, an 8% increase year over year, including 265,681 ounces of silver, 2,225 ounces of gold, and 1,604,343 pounds of copper [4] - Silver production rose by 6%, gold output increased by 25%, and copper production grew by 19% [4] Stock Performance - The company's stock price has increased by 170% over the past year, contrasting with a 9.1% decline in the industry [5] Peer Comparisons - Hecla Mining Company reported adjusted earnings per share of 4 cents, a 37.4% revenue increase year over year to $261 million [9] - Pan American Silver Corp. posted adjusted earnings per share of 42 cents, with revenues rising 28.6% year over year to $773 million [10] - Fortuna Mining Corp. reported adjusted earnings per share of 20 cents, with revenues increasing by 28.9% year over year to $290 million [11]

Core Viewpoint - Fortuna Mining Corp. has successfully completed the sale of its interest in Roxgold Sanu SA and three other subsidiaries in Burkina Faso to Soleil Resources International Ltd. for $70 million in cash, marking a strategic shift in the company's asset portfolio amidst a strong gold market [1][2][3]. Transaction Details - The transaction involved the acquisition of all issued and outstanding shares of the acquired companies for $70 million in cash. Prior to closing, Roxgold Sanu paid a cash dividend of $53.8 million to Fortuna, along with $3.7 million in withholding tax. Fortuna also has the right to receive up to approximately $53 million in value-added tax receivables upon meeting certain conditions [3]. Financial Impact - Following the sale, Fortuna's cash and short-term investments increased to over $380 million, with total liquidity exceeding $530 million. The divestiture allows the company to reallocate approximately $50 million in capital and management resources towards higher-value opportunities [2]. Production and Cost Guidance Update - The company has updated its 2025 gold equivalent production guidance to a range of 309,000 to 339,000 ounces, reflecting an 18% reduction at the midpoint from the previous range of 380,000 to 422,000 ounces. The all-in sustaining cost (AISC) guidance has been revised to $1,670 to $1,765 per gold equivalent ounce, indicating a 6% increase over the midpoint of the original guidance [5][6]. Mine-Specific Guidance - The updated production and AISC guidance by mine for 2025 includes: - Caylloma, Peru: 3,670 – 4,080 ounces, AISC unchanged at $21.7 - $24.7 - Séguéla, Côte d'Ivoire: 134 - 147 ounces, AISC unchanged at $1,500 - $1,600 - Lindero, Argentina: 93 - 105 ounces, AISC updated to $1,600 - $1,720 - Yaramoko, Burkina Faso: Updated to 38 ounces, AISC updated to $1,410 [6][7]. Operational Changes - The company has ceased all operations in Burkina Faso as part of its strategic realignment [4].

Financial Performance - The company reported a record free cash flow from operations of $111.3 million in Q1 2025, a 30% increase quarter over quarter [6][14] - Attributable net income from continuing operations was $61.7 million or $0.20 per share, a 131% increase compared to Q4 2024 [11][17] - Consolidated sales for Q1 2025 were $290.1 million, a 44% increase from $200.9 million in Q1 2024 [6][8] Cost Metrics - Consolidated cash cost per gold equivalent ounce from continuing operations was $929 in Q1 2025, up from $888 in Q4 2024 [8][15] - All-in sustaining costs (AISC) per gold equivalent ounce from continuing operations decreased to $1,640 in Q1 2025 from $1,690 in Q4 2024 [10][16] - The company achieved a free cash flow margin of 38% in Q1 2025, up from 31% in the previous quarter [6] Production and Operations - Gold equivalent production for Q1 2025 was 103,459 ounces, with a consolidated cash cost of $929 per ounce [6][8] - The Séguéla Mine produced 38,500 ounces of gold at an average grade of 2.76 g/t, a 12% increase in production compared to Q1 2024 [25][23] - The Yaramoko Mine produced 33,073 ounces of gold, with a cash cost of $1,059 per ounce, reflecting a 22% increase in tonnes milled [31][32] Strategic Developments - The company closed the sale of the San Jose Mine in Mexico and entered into a share purchase agreement to sell its interest in Roxgold Sanu SA, which is expected to provide $70 million in cash [6][14] - The divestment strategy aims to reallocate approximately $50 million in capital towards higher-value opportunities [6][7] Safety and Environmental Performance - The total recordable injury frequency rate (TRIFR) improved to 0.98 in Q1 2025 from 1.33 in Q4 2024, with zero lost time injuries reported [6][10] - Despite safety improvements, a fatal accident involving a subcontractor occurred at the Séguéla Mine in February [6]

VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) announces that it will release its financial statements and MD&A for the first quarter on Wednesday, May 7, 2025, after the market closes. A conference call to discuss the financial and operational results will be held on Thursday, May 8, 2025, at 9:00 a.m. Pacific time | 12:00 p.m. Eastern time. Hosting the call will be Jorge A. Ganoza, President and CEO, Luis D. Ganoza, Chief Financial Officer, Cesa ...

Core Points - Fortuna Mining Corp. will release its financial statements and MD&A for Q1 on May 7, 2025, after market close [1] - A conference call to discuss the results will take place on May 8, 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: May 8, 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: 794316 [4] - Replay availability until May 22, 2025, for the call and until May 8, 2026, for the webcast [4] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in multiple countries including Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru [5] - The company focuses on sustainability, producing gold and silver while ensuring environmental protection and social responsibility [5]

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 11, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) (“Fortuna” or the “Company”) is pleased to announce it has entered into a definitive share purchase agreement (the “Agreement”) to sell its interest in Roxgold Sanu SA (“Roxgold Sanu”) which owns and operates the Yaramoko Mine, together with the Company’s three other wholly-owned Burkina Faso subsidiaries which hold exploration permits in country (together with Roxgold Sanu, the “Acquired Companies”) ...