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Fortuna Mining Corp. (TSX: FVI, NYSE: FSM, previously Fortuna Silver Mines Inc.) managed to increase production from 112,543 to 116,570 oz gold equivalent from Q1 to Q2 2024. The Yaramoko mine delivered an outstanding performance, while Séguéla had to contend with energy problems and Lindero still has to cope with the remaining construction work on the leach pad expansion. This expansion should be completed in Q3, which should significantly reduce Lindero’s AISC. The operating cash flow increased from Q1 to Q2 from $48.9 to $73.9 million. The adjusted EBITDA increased from $95.2 million to $112.7 million. Fortuna also refinanced a loan with an interest rate of almost 8% with a convertible bond at 3.75%, with the conversation price of the new shares at US$6.59. Exploration work at San José (a decision on mining operations will be made this year), Séguéla and the new Diamba Sud project has been very successful. CEO Jorge Ganoza believes Fortuna is in a stronger position than ever before.
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