Fortuna reports record production
Agustín de Vicente / January 22, 2025 | 23:02
Fortuna Mining Corp. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru
Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) reports production results for the fourth quarter and full year 2024 from its five operating mines in Latin America and West Africa. For the full year 2024, Fortuna produced a record 369,637 ounces of gold and 3,724,945 ounces of silver for a record 455,958 gold equivalent ounces1, including lead and zinc by-products. All references to dollar amounts in this news release are expressed in US dollars.
Fourth quarter 2024 highlights
- Gold equivalent production of 116,358 oz; compared to 110,820 oz Au Eq in Q3 20243 and 136,154 oz Au Eq in Q4 20232
- Gold production of 95,993 oz; compared to 91,251 oz Au in Q3 20243 and 107,376 oz Au in Q4 20232
- Silver production of 843,611 oz; compared to 816,187 oz in Q3 20243 and 1,354,003 oz in
Q4 20232 - Repurchased 6,402,640 common shares at an average price of $4.77 per share for a total of $30,529,066; representing 41.88 percent of the 15,287,201 shares under the Company’s normal course issuer bid6
Full year 2024 highlights
- Record gold equivalent production of 455,958 oz1, in line with low end of guidance; compared to 452,389 oz Au Eq in 20232
- Record gold production of 369,637 oz, achieving midpoint of guidance; compared to
326,638 oz Au in 20232 - Silver production of 3.7 Moz, below guidance; compared to 5.9 Moz in 20232
- By-product lead and zinc production of 39.6 and 51.9 Mlbs, respectively
- 2024 Total Recordable Injury Frequency Rate (TRIFR) of 1.36 compared to 1.22 in 2023;
Lost Time Injury Frequency Rate (LTIFR) of 0.48 compared to 0.36 in 2023
2025 consolidated production and cost guidance highlights
- Gold equivalent production of between 380,000 and 422,000 oz; a projected decrease of between 17 and 7 percent, respectively, compared to 2024 production4
- Gold production of between 334,000 and 373,000 oz; a projected decrease of
10 percent and an increase of 1 percent, compared to 20242 - Silver production of between 0.9 and 1.0 million oz; a projected decrease of between
76 and 73 percent, respectively, compared to 20242 - Cash cost of between $895 and $1,015/oz Au Eq 5
- AISC of between $1,550 and $1,680/oz Au Eq 5
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