Free NewsletterUK Join the newsletter that everyone in finance secretly reads Fortuna Mining is turning its attention to gold mining opportunities in Guinea moving away from Burkina Faso due to regulatory hurdles and high security costs Facing annual security expenses that soared to $7 million amid jihadist threats Fortuna Mining's choice to sell its Yaramoko gold mine in Burkina Faso underscores the financial burden of operating in volatile regions The $130 million sale to a local company means losing about 70,000 ounces of gold annually Fortuna plans to direct part of its expanded $51 million exploration budget toward discoveries in Guinea Guinea has maintained stable mining laws despite military rule since 2021 presenting a more predictable regulatory climate Fortuna's strategy reflects adaptability to West Africa’s shifting political landscape alongside expansion efforts in Senegal and Ivory Coast For markets: Investors dig deeper into West Africa As firms like Fortuna and Endeavour Mining reevaluate operations amid changing political climates investors are keenly watching where these companies will allocate resources next Lower costs and fewer regulatory changes make Guinea a promising opportunity in West Africa’s gold mining sector The bigger picture: West Africa’s gold rush reshuffled The exit of key players from Burkina Faso due to unstable conditions highlights the larger challenge of operating in politically tense regions While Guinea’s military leadership hasn't changed mining laws This evolving scenario could increase investments in countries like Senegal and Ivory Coast potentially transforming the mineral production landscape It’s hard to pick the right individual stocks It’s even harder to pick the right work shirt when the subway is sweltering hot So consider your wardrobe a fund and Luca Faloni the active manager the menswear company knows its way around luxurious fabrics fine Italian craftsmanship and making investment-worthy staples So here are the finest shirts Luca Faloni recommends for your style portfolio: Diversify your wardrobe: take your pick (if you can bear to choose between them) here. 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Apple And Amazon’s Results Were Sturdy, But Their Future Looks A Little Less SoTheodora Lee Joseph, CFA "Trying To Crash The Market On Purpose": How To Invest In A Trump EraReda Farran, CFA Disclaimer: These articles are provided for information purposes only an opinion about whether to buy or sell a specific investment may be provided The content is not intended to be a personal recommendation to buy or sell any financial instrument or product or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience your financial situation or your investment objectives You may not get back all the money that you invest The investments referred to in this article may not be suitable for all investors an investor should seek advice from a qualified investment advisor This article may contain AI-edited content While efforts have been made to ensure accuracy AI may not capture the nuances of the subject matter resulting in errors or inconsistencies 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp (NYSE: FSM | TSX: FVI) announced today that the Toronto Stock Exchange has approved the renewal of Fortuna’s normal course issuer bid (the “NCIB”) to purchase up to five percent of its outstanding common shares purchases of common shares may be made through the Toronto Stock Exchange the New York Stock Exchange and/or alternative Canadian trading systems The share repurchase program starts on May 2 its common shares trade at market prices that may not adequately reflect their underlying value depending upon future price movements and other factors the Board of Directors of Fortuna believes that the repurchase of common shares for cancellation would be an appropriate use of corporate funds Fortuna is permitted to repurchase up to 15,347,999 common shares being five percent of its outstanding 306,959,986 common shares as of April 28 Common shares purchased under the NCIB will be canceled The actual number of common shares that may be purchased will be determined by Fortuna based on a number of factors including Fortuna’s financial performance and flexibility in the context of its financial guardrails the availability of discretionary cash flow The NCIB will be effected in accordance with the Toronto Stock Exchange’s normal course issuer bid rules and/or Rule 10b-18 under the U.S which contain restrictions on the number of common shares that may be purchased on a single day subject to certain exceptions for block purchases based on the average daily trading volumes of Fortuna’s common shares on the applicable exchange Fortuna will limit daily purchases of common shares on the Toronto Stock Exchange in connection with the NCIB to no more than 25 percent representing 205,903 common shares of the six-month average daily trading volume of the common shares on the Toronto Stock Exchange Purchases under the NCIB will be made through open market purchases at market price as well as by other means as may be permitted under applicable securities laws Fortuna has entered into a share repurchase plan with a broker which will enable the broker to purchase common shares on behalf of Fortuna through the open market in accordance with instructions from management provided that Fortuna is not in possession of any material non-public information or subject to any black-out periods at such time Fortuna’s prior NCIB for the purchase of up to 15,287,201 common shares expires on May 1 Fortuna repurchased an aggregate of 7,319,540 common shares on the open market through the facilities of the NYSE at a weighted-average price of US$4.7203 per common share The repurchased common shares were subsequently canceled A copy of Fortuna’s notice filed with the Toronto Stock Exchange may be obtained by any shareholder without charge, by contacting Fortuna’s Investor Relations department at info@fmcmail.com This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements The Forward-looking Statements in this news release include statements relating to Fortuna’s intention to renew the NCIB and the timing methods and quantity of any purchases of common shares under the NCIB These Forward-looking Statements are based on certain assumptions that Fortuna has made in respect thereof as at the date of this news release that Fortuna’s businesses will continue to achieve sustainable financial results and that future results of operations will be consistent with past performance and management expectations in relation thereto the availability of cash for repurchases of common shares under the NCIB and compliance with applicable laws and regulations pertaining to an NCIB these Forward-looking Statements can be identified by the use of words such as “estimated” “could” or “should” occur or be achieved and similar expressions Forward-looking Statements involve known and unknown risks uncertainties and other factors which may cause the actual results performance or achievements of Fortuna to be materially different from any results performance or achievements expressed or implied by the Forward-looking Statements among others: operational risks relating to mining and mineral processing; uncertainty relating to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs production schedules and economic returns; risks relating to Fortuna’s ability to replace its Mineral Reserves; risks associated with mineral exploration and project development; uncertainty relating to the repatriation of funds as a result of currency controls; environmental matters including maintaining obtaining or renewing environmental permits and potential liability claims; inability to meet sustainability and strategies (including greenhouse gas emissions reduction targets); risks associated with political instability and changes to the regulations governing Fortuna’s business operations; changes in national and local government legislation regulations and political or economic developments in countries in which Fortuna does or may carry on business; risks associated with war such as the Ukrainian – Russian and the Israel – Hamas conflicts and the impact they may have on global economic activity; risks relating to the termination of Fortuna’s mining concessions in certain circumstances; risks related to International Labor Organization (“ILO”) Convention 169 compliance; developing and maintaining good relationships with local communities and stakeholders; risks associated with losing control of public perception as a result of social media and other web-based applications; potential opposition to Fortuna’s exploration development and operational activities; risks related to Fortuna’s ability to obtain adequate financing for planned exploration and development activities; substantial reliance on the Séguéla Mine epidemics and public health crises; and the impact they might have on Fortuna’s business or an event of default which may reduce Fortuna’s liquidity and adversely affect its business; tax audits and reassessments; risks relating to hedging; uncertainty relating to concentrate treatment charges and transportation costs; sufficiency of monies allotted by Fortuna for land reclamation; risks associated with dependence upon information technology systems judgments which may be brought against Fortuna; as well as those factors referred to in the “Risk Factors” section in our Annual Information Form for the financial year ended December 31 2024 filed with the Canadian Securities Administrators and available at www.sedarplus.ca and filed with the U.S Securities and Exchange Commission as part of Fortuna’s Form 40-F and available at www.sec.gov/edgar.shtml Although Fortuna has attempted to identify important factors that could cause actual actions events or results to differ materially from those described in Forward-looking Statements there may be other factors that cause actions events or results not to be as anticipated Forward-looking Statements contained herein are based on the assumptions and factors management considers reasonable including but not limited to: all required third party contractual regulatory and governmental approvals will be obtained and maintained for the exploration construction and production of its properties; there being no significant disruptions affecting operations damage to equipment or other matter; there being no material and negative impact to the various contractors suppliers and subcontractors at Fortuna’s mine sites as a result of the Ukrainian – Russian Israel - Hamas conflicts or otherwise that would impair their ability to provide goods and services; permitting and production continuing on a basis consistent with Fortuna’s current expectations; expectations regarding Fortuna completing the sale of the San Jose Mine on a basis consistent with Fortuna’s current expectations; expected trends and specific assumptions regarding metal prices and currency exchange rates; prices for and availability of fuel parts and equipment and other key supplies remaining consistent with current levels; production forecasts meeting expectations; any investigations labor and tax proceedings arising in the ordinary course of business will not have a material effect on the results of operations or financial condition of Fortuna; expectations that the 2024 Mining Code will not have a material change to Fortuna’s business in Burkina Faso; and the accuracy of Fortuna’s current Mineral Resource and Mineral Reserve estimates Forward-looking Statements are made as of the date hereof and Fortuna disclaims any obligation to update any Forward-looking Statements There can be no assurance that these Forward-looking Statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements investors should not place undue reliance on Forward-looking Statements A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/fb287aa1-bf4c-4e9d-8b15-5d6499a655ab You currently use an outdated internet browser. You can upgrade to a modern browser or use the Google Chrome Frame to optimize your viewing experience has taken a firm step towards the modernisation of its urban mobility with the implementation of an intelligent system for the management of loading and unloading zones which is being developed in collaboration with Pavapark incorporates square-by-square detection technology using Urbiotica’s U-Spot M2M sensors is key to the proper functioning of commerce and urban logistics The initiative responds to a specific need: to organise and control the use of spaces reserved for carriers and suppliers especially in areas close to markets or busy commercial areas the use of loading and unloading spaces depended largely on the spontaneous availability and intuition of drivers congestion and wasted time for transport professionals The Fortuna City Council was looking for a solution that offered control and at the same time was simple to implement which combines a digital management platform with real-time detection of the occupancy status of the parking spaces capable of accurately and autonomously detecting the presence of vehicles in each plaza buried underground and without the need for periodic maintenance offer a reliable and robust solution for the control of regulated areas Thanks to their Machine-to-Machine (M2M) technology the sensors communicate directly without the need for gateways which simplifies installation and significantly reduces costs This makes them a particularly suitable option for dispersed parking areas such as loading and unloading zones in municipalities like Fortuna The information generated is made available to traders facilitating the organization of the logistics flow and promoting a higher vehicle turnover in the most active areas of the city Fortuna joins the trend of cities that are committed to a more efficient and sustainable mobility incorporating technology as a tool to improve the management of public space and respond to the daily challenges of the urban environment Want to learn more about how Urbiotica’s technology can help you improve the management of loading and unloading zones in your city Contact us at info(at)urbiotica.com or request a demo Urbiotica was born in 2008 with the mission to bring the most innovative technology to society through urban environments Its vision is to help cities become more manageable improving the quality of life of its citizens we focus on developing reliable IoT technologies that enhance urban mobility Our sensors are rigorously tested to deliver high performance and accuracy in parking space management ensuring efficient and dependable solutions KECY) - A longtime shopping staple in the Foothills is getting a fresh start The Simply Shabby Mini Mall is now under new ownership and a new name: Fortuna Mini Mall Alicia and her husband officially take over on May 1 with big plans to make the space a year-round hub for local creators and small businesses "We're preparing indoor spaces for daily pop-up opportunities throughout the summer," Alicia said and open to anyone looking for a way to share their work with the community." right next to Donut Corral and Bottoms Up Pub the Fortuna Mini Mall will offer space ranging from single tables to 10-by-10 foot booths especially those who rely on seasonal markets a place to set up even when outdoor temperatures rise this actually provides a space for them as well," said Leigh Warren "We know that there are a lot of crafters on Facebook Marketplace and other outlets who have great ideas and a lot of product they want to feature." long-term rental spaces are also available Anyone interested is encouraged to stop by in person and ask for Alicia or Ana For more information or to submit a vendor interest form, visit www.fortunaminimall.com Jailene Aguilera joined KYMA in April 2023 She is the anchor/producer for CBS at 6 and 10 pm contact Jailene at jailene.aguilera@kecytv.com KYMA KECY is committed to providing a forum for civil and constructive conversation Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here If you would like to share a story idea, please submit it here Terms of Use | Privacy Policy | Community Guidelines | FCC Applications | Jobs/Internships | Do Not Sell My Personal Information More than seven years after California launched its legal cannabis market it looks as though the City of Fortuna is finally ready to lift its ban on dispensaries and cannabis manufacturing facilities inside city limits.  “Allowing cannabis retail activity will generate new revenue for the City,” the staff report states it is anticipated that the project will essentially pay for itself within an undetermined period.” Over the years, the Fortuna City Council has made it abundantly clear that it doesn’t want people growing or peddling the devil’s lettuce anywhere near the Friendly City Several months after recreational sales opened in 2018, former Fortuna Mayor Sue Long told the Outpost that the city’s ban on commercial cannabis activity protected the city from “any kind of craziness” associated with the budding legal industry “We can just sit back and watch and see what happens,” she said adding that a future city council could choose to revisit the issue in the future Fortuna City Manager Amy Nilsen told the Outpost that the city council directed staff to develop a cannabis ordinance earlier this year though she didn’t say what inspired the proposal The supplemental budget request will pay for a professional services agreement with Land Logistics which will help staff develop a draft cannabis ordinance complete with supporting documents and clever riffs from Gennie AgendaBot The Fortuna City Council will meet at 6 p.m The City Council is being asked to approve grant funds from the State Coastal Conservancy to acquire 237 acres of wetlands along the Lower Eel River The City will use the funds to create a park on 7.2 acres of the property and transfer the remaining land to the Wiyot Tribe for conservation The City will also need to provide some funding and may request additional budget support for park development The process and documentation for acquiring the land is detailed in the attachment The Council is recommended to approve the resolution for this project In a world where nature is disappearing at an alarming rate one city stands up to protect its precious wetlands Join the City of Fortuna as they embark on a journey to acquire 237 acres of Lower Eel River Wetlands With the help of the State Coastal Conservancy this small town is granted the opportunity to preserve this vital piece of land for generations to come But the path to conservation is never easy City Manager Amy Nilsen must navigate negotiations and execute grant agreement documents to secure the funds needed for this monumental project As the future of the wetlands hangs in the balance tensions rise as the City Council must make a decision that will impact the community and the environment Will they approve Resolution 2025-11 and protect the wetlands Find out in this gripping tale of environmental stewardship and the fight to save a piece of natural paradise Don’t miss “Conservation City: The Battle for the Wetlands.” Coming soon to a theater near you The City Council needs to review and approve the Mayor’s choices for new members of the Planning Commission There are two vacancies – one regular seat and one alternate seat The recommended applicants are Diana (Tina) Christensen for the regular seat and Colt Amen for the alternate seat Their terms would last for four years if approved The Council needs to vote on the Mayor’s recommendation as part of the Consent Calendar dear Mayor and Council Members fair,I bring to you a matter of great care,The Planning Commission seeks your hand,To fill two seats in our fair land a name so bright,To fill the Regular Seat with delight,And Colt Amen four years to serve,With diligence and nerve,If you approve their work will thrive,Until December thirty-one before you stand,The Mayor’s recommendation in hand,A motion to approve let it be,For the betterment of our community I bid you adieu,And leave the decision up to you,Review and consider with due care,The future of our city The City Council needs to approve Police Lieutenant Jason Kadle as an authorized check signer for the City of Fortuna with US Bank the city has five authorized signers for checks to ensure they can always be processed in a timely manner who was recently promoted to Police Lieutenant needs approval to become one of the authorized signers It is recommended that the Council approves his request elle parle d’un choixLe lieutenant Kadle il faut l’approuver Comme signataire autorisé promu récemmentIl attend l’approbation Les cinq signataires déjà en placeMatt Eberhardt mais Jason les rejoindraPour signer les chèques c’est la volontéPour la ville de Fortuna sur l’agenda des consentementsJason Kadle un moment importantPour la ville de Fortuna The Fortuna Sunrise Rotary has donated a hydration station with a pet bowl to be installed at the River Lodge It will be a great addition for people using the nearby walking trail The city council is being asked to approve the donation which will not have a negative impact on the city’s budget I stand before you with exciting news of a recent donation that will benefit our community in a tangible and practical way The City Council has approved the donation of a hydration station from Fortuna Sunrise Rotary to be installed at River Lodge This hydration station will not only provide a much-needed amenity for those utilizing the nearby walking trail but it also includes a pet bowl for our furry friends to stay hydrated as well This generous donation is a reminder of the power of community partnerships and the impact that we can make when we come together for the greater good The Fortuna Sunrise Rotary saw a need in our community and took action to fulfill that need and now we see the fruits of their labor coming to fruition let us be inspired to look for ways that we can contribute to the betterment of our community let us seek opportunities to make a positive impact and be a beacon of hope and love in our city Let this hydration station serve as a physical reminder of the generosity and kindness that exists within our community May it be a symbol of unity and collaboration and may it bring refreshment and joy to all who utilize it Let us give thanks for this donation and for the individuals and organizations who make it possible And may we continue to seek ways to spread love The City Council is considering establishing a Fortuna Enhanced Infrastructure Finance District (EIFD) to fund public improvement projects An EIFD would capture property tax increment to fund projects within the district The City of Fortuna has specific projects in mind The cost of these projects exceeds available funds and applying for federal grants has been unsuccessful The City is considering partnering with the County of Humboldt for funding The financial impact of the feasibility analysis by a consultant is $24,750 and consider taking action on the EIFD partnership I went to a City Council meeting last night the only thing that had less energy than the discussion on infrastructure funding was me at a yoga class “I don’t get no respect in this town I feel like an EIFD - Enhanced Infrastructure Finance District - always getting overlooked and underappreciated!” The City Council is being asked to approve a budget request and a professional services agreement with a company called Land Logistics who will help develop a program and ordinance for commercial cannabis in the city This could potentially bring in new revenue for the city The funds for this project will come from the General Fund reserves As the sun set on the small city of Fortuna a chill ran through the air as the City Council met to discuss a controversial new project The proposal on the table was to allow commercial cannabis activity within city limits presented the recommendation to the Council detailing the financial impact and the anticipated benefits of the project Despite some concerns from the council members the decision was made to move forward with the proposal and hire Land Logistics to prepare a commercial cannabis program and ordinance the residents of Fortuna began to notice strange occurrences in their once quiet town whispers could be heard in the dead of night and a sense of unease settled over the city like a thick fog Rumors began to circulate that the new cannabis program had awakened something sinister in the town People reported seeing strange figures lurking in the shadows their eyes glowing with an otherworldly light their owners finding only strange symbols carved into the ground in their place The city streets became deserted after dark the residents too afraid to venture out into the night The once bustling businesses now sat empty and abandoned their windows boarded up to keep out whatever malevolent force had descended upon Fortuna The Council members who had approved the program were the first to disappear their homes left empty and their families frantic with worry trying to fight the darkness that seemed to be consuming their town The commercial cannabis program had unleashed something that no one could have predicted a horror that now haunted the streets and alleys of the city forevermore those brave enough to venture close could still hear the whispers of those who had been lost to the darkness a chilling reminder of the cost of greed and ambition The City Council is holding a public hearing to decide whether to levy an annual assessment for the Fortuna Business Improvement District for the next fiscal year but the protest must meet certain requirements to be successful the Council will adopt a resolution to levy the assessment Staff recommends that the Council adopt the resolution Title: The Fortuna Business Improvement District Chronicles a debate is raging among the business owners over the annual assessment for the Fortuna Business Improvement District (FBID) rumors of dark forces at play begin to spread It’s up to a group of brave adventurers to uncover the truth behind the protests and potentially save the city from a sinister plot Quest Brief:The adventurers are hired by the City Manager to investigate the protests against the FBID annual assessment gather information from the business owners and determine if there is any foul play involved Attend the public hearing and listen to the testimonies of the business owners.2 Gather evidence from the business owners to determine the validity of the protests.3 Investigate any suspicious individuals or activities related to the protests.4 Uncover the true reason behind the protests and potentially thwart any nefarious plans Disgruntled Business Owner: A business owner who vehemently opposes the assessment and may try to persuade the adventurers to join their cause.2 Shady Figure: A mysterious individual lurking in the shadows Supernatural Entity: A creature or being summoned to disrupt the public hearing and sow chaos in the city.4 City Council Member: A council member who may have ulterior motives for pushing the assessment through Conclusion:Depending on the adventurers’ actions and investigation they may uncover a plot by a rival business owner to sabotage the assessment for their own gain or they may reveal a more sinister force at work in the city the fate of Fortuna and its businesses rests in their hands as they navigate the complex web of politics and intrigue surrounding the FBID The city council is considering making changes to the Fortuna Business Improvement District regulations The changes include dissolving existing benefit core areas revising the composition of the Advisory Committee and reallocating funds within the district The proposed assessment is a flat rate of $25 per business The council is recommended to conduct a second reading and adopt the ordinance to make these changes As soon as she heard about the proposed changes to the Fortuna Business Improvement District regulations Being a small business owner in the Downtown Care Area she had always been frustrated by the way the core areas were treated differently from businesses outside of those areas it seemed unfair that they had to pay higher assessments while receiving the same benefits as everyone else a quaint town nestled in the redwoods of northern California she had dreamed of owning her own business and making a positive impact on her community She had worked hard to open her boutique shop in the heart of downtown As she read through the staff report and recommendations Jenna couldn’t help but feel a sense of pride She had been actively involved in the Advisory Committee and had advocated for these changes for months Seeing them finally come to fruition was a validation of her hard work and dedication Jenna put on her best business attire and made her way to City Hall listening to the staff presentation and Council questions This was her chance to see her vision for the FBID become a reality She spoke passionately about the need for equality and fairness within the district emphasizing the importance of supporting all businesses in Fortuna and she received a round of applause as she returned to her seat As the Council members began to discuss the proposed changes When the motion was made to conduct the second reading and adopt Ordinance 2025-774 and Jenna knew that her efforts had paid off She knew that this was just the beginning of her journey as a business owner and community advocate Jenna was determined to continue working towards a stronger This was her bildungsroman - her coming of age story as a leader and changemaker in her beloved town The City of Fortuna Parks and Recreation Department is recommending a change in their adult sports leagues Instead of each individual player paying a fee they propose adding a flat $100 processing fee to each team’s league fee This change aims to save staff time and reduce errors in tracking player eligibility The City Council will vote on this recommendation en el año veinticincoSe discute en el Consejo un asuntoKaylyn Stainbrook la directora interinaNos habla de un cambio oportuno la ciudad organizaLigas de basquetbol y softbol para disfrutarPero el procesamiento de los equipos divisaUn problema que quiere solucionar En lugar de cobrar a cada jugador por separadoSe propone un cargo fijo para el equipo completoEsto reducirá el tiempo del personal tan ocupadoY evitará errores de rastreo y detrimento El cambio no afectará mucho el gastoPero agilizará el trabajo y ahorrará tiempoCon un cargo de cien dólares propuesto en el actoSe vota por el bien y el desarrollo del deporte Con un voto del Consejo se adoptará la medidaPara mejorar el proceso y facilitar la tareaFortuna aplaude con entusiasmo y alegría¡Un nuevo comienzo en esta hilera de victoria is providing a report to the Mayor and City Council about upcoming meetings for various city agencies and committees Rohner Community Recreation and Park District (RCRPD) meetings and Fortuna Business Improvement District (FBID) meetings are listed and the rest of the meetings will take place at the Council Chambers at City Hall at specific times from the City Manager’s handSaid they’re cancelling our meeting at the Rohner Recreation standI was looking forward to seeing you there the city meetings ain’t the same without youJust a bunch of empty chairs your touchNow it’s all just meetings but I can’t concentrateAll I can think about is you it’s just another dayWithout you by my side (Bridge)I used to look forward to those City Hall wallsNow they just remind me of the way we’d fallApart without each other by our sidesNow all we have are these city meeting guides it’s all a blurI wish I could turn back time start anewBut all I have are these city meetings Fortuna Mining (NYSE: FSM | TSX: FVI) has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for share repurchases The program allows Fortuna to buy back up to 5% of its outstanding shares unless the maximum share limit is reached earlier Fortuna repurchased 7,319,540 shares at an average price of US$4.7203 per share through the NYSE Daily purchases will be limited to 205,903 shares on the Toronto Stock Exchange representing 25% of the average daily trading volume The company believes its shares sometimes trade below their underlying value and views the repurchase program as an appropriate use of corporate funds Fortuna Mining (NYSE: FSM | TSX: FVI) ha ottenuto l'approvazione dalla Borsa di Toronto per rinnovare il suo programma di riacquisto di azioni nel corso normale (NCIB) Il programma consente a Fortuna di riacquistare fino al 5% delle sue azioni in circolazione Il nuovo NCIB sarà attivo dal 2 maggio 2025 al 1 maggio 2026 salvo raggiungimento anticipato del limite massimo di azioni Fortuna ha riacquistato 7.319.540 azioni a un prezzo medio di 4,7203 USD per azione tramite la NYSE Gli acquisti giornalieri saranno limitati a 205.903 azioni sulla Borsa di Toronto pari al 25% del volume medio giornaliero di scambi L'azienda ritiene che le sue azioni a volte vengano scambiate a un valore inferiore rispetto al loro valore intrinseco e considera il programma di riacquisto un uso appropriato delle risorse aziendali Tutte le azioni acquistate saranno cancellate Fortuna Mining (NYSE: FSM | TSX: FVI) ha recibido la aprobación de la Bolsa de Toronto para renovar su programa normal de recompra de acciones (NCIB) El programa permite a Fortuna recomprar hasta el 5% de sus acciones en circulación equivalente a 15,347,999 acciones ordinarias El nuevo NCIB estará vigente desde el 2 de mayo de 2025 hasta el 1 de mayo de 2026 a menos que se alcance antes el límite máximo de acciones Fortuna recompró 7,319,540 acciones a un precio promedio de 4.7203 USD por acción a través de la NYSE Las compras diarias estarán limitadas a 205,903 acciones en la Bolsa de Toronto representando el 25% del volumen promedio diario de negociación La compañía considera que sus acciones a veces se negocian por debajo de su valor intrínseco y ve el programa de recompra como un uso adecuado de los fondos corporativos Todas las acciones compradas serán canceladas Fortuna Mining (NYSE: FSM | TSX: FVI)는 토론토 증권거래소로부터 정상 과정 발행자 매입 프로그램(NCIB) 갱신 승인을 받았습니다 이 프로그램을 통해 Fortuna는 발행 주식의 5%에 해당하는 15,347,999주를 다시 매입할 수 있습니다 이전 프로그램에서는 Fortuna가 NYSE를 통해 주당 평균 4.7203달러에 7,319,540주를 매입했습니다 토론토 증권거래소에서의 일일 매입 한도는 평균 일일 거래량의 25%인 205,903주로 제한됩니다 Fortuna Mining (NYSE : FSM | TSX : FVI) a obtenu l'approbation de la Bourse de Toronto pour renouveler son programme normal de rachat d'actions (NCIB) Ce programme permet à Fortuna de racheter jusqu'à 5 % de ses actions en circulation Le nouveau NCIB sera en vigueur du 2 mai 2025 au 1er mai 2026 sauf si la limite maximale d'actions est atteinte plus tôt Fortuna a racheté 7 319 540 actions à un prix moyen de 4,7203 USD par action via la NYSE Les achats quotidiens seront limités à 205 903 actions à la Bourse de Toronto représentant 25 % du volume moyen quotidien des échanges La société estime que ses actions se négocient parfois en dessous de leur valeur intrinsèque et considère le programme de rachat comme une utilisation appropriée des fonds de l'entreprise Toutes les actions rachetées seront annulées Fortuna Mining (NYSE: FSM | TSX: FVI) hat die Genehmigung der Toronto Stock Exchange erhalten sein normales Aktienrückkaufprogramm (NCIB) zu erneuern bis zu 5 % seiner ausstehenden Aktien zurückzukaufen sofern nicht vorher das maximale Aktienlimit erreicht wird Im vorherigen Programm kaufte Fortuna 7.319.540 Aktien zu einem Durchschnittspreis von 4,7203 USD pro Aktie über die NYSE zurück Die täglichen Käufe sind an der Toronto Stock Exchange auf 205.903 Aktien begrenzt was 25 % des durchschnittlichen täglichen Handelsvolumens entspricht dass seine Aktien manchmal unter ihrem inneren Wert gehandelt werden und betrachtet das Rückkaufprogramm als eine angemessene Verwendung der Unternehmensmittel Alle zurückgekauften Aktien werden annulliert Fortuna's share buyback renewal allows for 5% share reduction enhancing shareholder value while maintaining financial flexibility Fortuna's renewal of its Normal Course Issuer Bid (NCIB) authorizes the company to repurchase up to 5 of outstanding shares (approximately 15.35 million shares) through May 2026 This program represents a significant capital allocation decision that could positively impact per-share metrics when executed The company explicitly states they believe shares sometimes trade at prices that don't adequately reflect their underlying value - a key consideration for effective share repurchases Historical context provides valuable insight into potential implementation Fortuna repurchased 7.32 million shares at an average price of $4.72 utilizing less than half of their prior authorization opportunistic approach to deployment rather than an aggressive commitment to use the full authorization A critical aspect of this program is that repurchased shares will be canceled permanently reducing the share count and potentially enhancing earnings per share and other per-share metrics The company has built significant flexibility into the implementation making actual repurchases contingent on financial performance this approach provides valuable flexibility compared to dividend commitments as it allows the company to return capital when conditions are favorable while preserving resources for essential operational needs during periods of lower cash generation The daily purchase limitations (maximum 25 of average daily volume on TSX) establish a structured framework for implementation without creating market disruption A copy of Fortuna’s notice filed with the Toronto Stock Exchange may be obtained by any shareholder without charge, by contacting Fortuna’s Investor Relations department at info@fmcmail.com A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/fb287aa1-bf4c-4e9d-8b15-5d6499a655ab Already have an account? Login By Rob Bates | April 08 a New York City–based auction house that has specialized in jewelry and watches filed for Chapter 11 on April 1 in New York federal court The bankruptcy petition estimated Fortuna’s assets between $100,000 and $500,000 and its debts at $1 million to $10 million In a court filing company manager Herbert Saxon said he founded Fortuna in 2016 with his wife and a Series A capital raise was gaining serious momentum,” Saxon wrote But Holehouse and Lin’s divorce and their subsequent departure from the business hurt Fortuna as did the COVID-19 pandemic and issues with one of its investors Additional setbacks included employees who stole confidential information and Lin starting a “short-lived” competing business Fortuna turned to merchant cash advance (MCA) lenders but its new funder imposed high interest rates and tough terms that left the auction house unable to pay clients who consigned merchandise “The delayed payments to consignors—coupled with rumors fueled by former employees and angry clients—sparked a vicious cycle of fear and distrust,” Saxon wrote and our ability to meet existing obligations eroded… “While several investors have recently expressed interest in supporting the business during this tough time none have moved forward quickly enough,” he continued “When we raised the possibility of a formal restructuring to eliminate the burden of predatory debt that interest was reactivated.… At this point bankruptcy protection represents the company’s only viable path forward to preserve operations Saxon stated in the filing that the company intends to fully pay back its consignors He could not be reached for further comment By Rob Bates May 05 By Annie Davidson Watson May 05 By Brittany Siminitz May 05 By Karen Dybis May 05 2025 © RX USA. Use of this website is subject to terms of use. 2025 Ivan Perisic's triple strike kept PSV's faint title hopes alive Photo: ANP/Maurice van SteenPSV Eindhoven have closed the gap on Ajax at the top of the Eredivisie to four points with three matches to play as Croatian veteran Ivan Perisic bagged a hat-trick against Fortuna Sittard Perisic scored twice in the first half before Noa Lang swept in a cross from Guus Til in the 57th minute Fortuna pulled a goal back through Jasper Dalhaus’s chipped half-volley but Perisic had the last word after being picked out by Til The result adds spice to PSV’s clash next weekend with Feyenoord, who won by the same scoreline at Heracles on Saturday with both clubs still in contention to grab the second Champions League group stage berth the first after slaloming into the penalty area from the right wing before Hwang In-Boem’s deflected shot gave Feyenoord a 3-0 half-time lead Heracles briefly threatened a comeback when Luka Kulenovic slotted home from close range in the 73rd minute but teenager Givairo Reid restored Feyenoord’s lead five minutes later AZ Alkmaar boosted their chances of playing in Europe next season with a 3-0 win over their cup final conquerors to secure a home draw in the Conference League play-offs A shot by Sven Mijnans took a deflection off two Go Ahead defenders to give AZ an early lead Defender Wouter Goes scored the second from a corner just before half-time while substitute Jayden Addai tucked away the third after Ruben van Bommel made a strong run down the left-hand side to create the opening Twente Enschede are also guaranteed a home tie in the play-offs after Sem Steijn scored his 24th goal of the season against Sparta Groningen are in pole position to bag the final play-off place as they fired six goals past ailing RKC Waalwijk with Stije Resink the only player to score twice The club from Tilburg came within seven minutes of ending their eight-match losing streak with a win at NEC but a late equaliser by Kento Shiogai meant they had to settle for a point The result means means Willem II cannot finish higher than 16th, while both PEC Zwolle and NAC Breda, whose basement clash ended in a 3-1 win for PEC We could not provide the Dutch News service without the generous support of our readers Your donations allow us to report on issues you tell us matter and provide you with a summary of the most important Dutch news each day Many thanks to everyone who has donated to DutchNews.nl in recent days We could not provide this service without you Please help us making DutchNews.nl a better read by taking part in a short survey The all-inclusive Viva Fortuna Beach by Wyndham on Grand Bahama has created tour packages that coincide with its annual Dive Weeks for 2025 Dive Weeks give visitors the opportunity to experience the coral reefs wrecks and marine life that lay beneath the waters surrounding the Bahamas under the guidance of PADI instructors Dive Week participants have four dates to choose from this year: May 17 to 24 based on double occupancy in a gardenview room and include four days of tank boat dives (10 dives total) (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”) to Soleil Resources International Limited (“SRI”) (the “Transaction”) SRI is a private Mauritius company which operates three mines and owns a drilling company all in Burkina Faso Following the completion of the Transaction Fortuna will cease to have any operations in Burkina Faso “Considering the limited remaining life of mineral reserves at Yaramoko (approximately one year) the cessation of our exploration activities in-country and the increasingly challenging business climate in Burkina Faso the Transaction represents a prudent exit that optimizes value avoids approximately US$20 million in future mine closure liabilities and provides Fortuna with additional liquidity as we pursue opportunities more closely aligned with our strategic objectives.” Mr is well positioned to continue operations at the Yaramoko Mine to the benefit of employees and local stakeholders” SRI will acquire all of the issued and outstanding shares of the Acquired Companies Fortuna will receive an aggregate cash payment of approximately US$130 million as follows: The completion of the Transaction is subject to the payment by Roxgold Sanu to Fortuna of the Cash Dividend receipt of the consent of the Minister of Mines and customary conditions of closing for transactions of this nature and is expected to be completed in the second quarter of 2025 statements about the ability of the Company or any of its subsidiaries to complete the sale of the shares of the Acquired Companies; the timing of closing of the Transaction; the anticipated receipt of cash payments at closing; the payment of a dividend by Roxgold Sanu in addition to Fortuna's right to receive certain additional payments related to the refund of value added tax receivables upon the completion of certain conditions post-closing; and the Company’s business strategy performance or achievements of the Company to be materially different from any results changes in general economic conditions and financial markets; changes in prices for gold and other metals; the timing and success of the Company’s proposed exploration programs; technological and operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves and metal recoveries; the Company’s ability to obtain all necessary permits licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form for the financial year ended December 31 Although the Company has attempted to identify important factors that could cause actual actions events or results to differ from those anticipated Forward-looking Statements contained herein are based on the assumptions expectations regarding the Company completing the sale of its interest in the Yaramoko Mine in accordance with the terms and conditions of the relevant agreements on a basis consistent with the Company’s current expectations; that any future payments in connection with the cash consideration or in respect of any future additional payments will be paid to the Company; expected trends in mineral prices and currency exchange rates; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements There can be no assurance that Forward-looking Statements will prove to be accurate PDF available: http://ml.globenewswire.com/Resource/Download/5903e495-85da-4a0e-8db2-d0e7fc6f3138 “I realise very well that if we still want to achieve something For me it is certainly not a side project” They will have to do without key forward Ismael Saibari following the knock he sustained against Twente as well as the continued absences of Jerdy Schouten A tricky test awaits for them in EIndhoven, with Fortuna Sittard chasing the European competition play-offs four points off 8th placed Heerenveen with a game in hand Ezequiel Bullaude will be looking to deliver another match-winning performance scored the only goal in Sittard’s 1-0 win against Willem II GBENeFN | Samuel Fabre « The World’s Largest Free Seed Distributor is Based Out of Arcata BLOOD BANK LOW: If You’re Serving Up That Type O, Please Consider Donating ASAP » the art deco centerpiece of the city’s Main Street PREVIOUSLY: After Suffering Water Damage Caused by the Earthquake, Fortuna Theatre is Still Closed and it Looks Like it Won’t Be Reopening Any Time Soon It’s been two and a half years since a 6.4-magnitude earthquake forced the closure of the historic Fortuna Theatre leaving the Friendly City’s Main Street with a darkened empty marquee and even fewer local entertainment options than before a dedicated group of volunteers is rallying support to revive the 86-year-old landmark.  “I always loved going to movies at the theater,” Linda Rasmussen told the Outpost “It’s right smack in the middle of our downtown and there’s going to be death by neglect if something isn’t done … It’s not okay to have it sitting there going to waste In partnership with Fortuna residents Donny Miner and Brian Gonzalez, in September 2024, Rasmussen created a Facebook page — “Save Fortuna Theatre Group” — to drum up local support for the theater and create a space for nostalgic locals to share pictures and fond memories of midnight showings “My first official date with my now husband was in this theater,” one resident wrote in the Facebook group “I’m so sad that it’s still out of commission As many Eel River Valley residents know, the Fortuna Theatre endured extensive water damage after the massive December 2022 earthquake, which broke a fire sprinkler head inside the building, causing an estimated $300,000 in damage to the ceiling and drywall. In a previous interview with the Outpost, David Corkill, owner of Cinema West the Petaluma-based company that owns the Fortuna Theatre said he wasn’t sure if repairs were worth the investment noting that the theater wasn’t turning a profit before it closed Corkill did not respond to multiple requests for an interview for this story it just seems like it became too much and it didn’t pencil out anymore,” Rasmussen said but I know he would love to see something good come out of it The only thing I really hold him accountable for is you can’t just do nothing with it and just let it sit there and rot In December 2024, Humboldt County was rocked by yet another major earthquake adding to the damage sustained during the 2022 earthquake though the water system was never turned back on preventing significant water damage in the auditorium Miner reported minor damage from the little bit of water still in the pipes and damage to one of the screens.  a speaker horn fell and tore the large auditorium screen in a few spots,” he wrote we remain hopeful and committed to restoring our theatre Thank you for your continued support and belief that brighter days are ahead for this historic treasure A sign posted on the door of the vacant theater encourages people to join the “Save Fortuna Theatre” group In January of this year, the group took a leap of faith and wrote a letter to Corkill informing him of their intent to form a nonprofit and asking if he would be willing to donate the theater to the community.  “We’re excited to share that we have officially started the process of forming a nonprofit organization called ‘Save the Fortuna Theatre we are reaching out to discuss the possibility of you donating all or a portion of the Fortuna Theatre building to our organization Such a generous donation would allow us to take vital steps toward securing grants this contribution could also provide you with meaningful tax advantages as donations of real property to a qualified nonprofit are often tax-deductible.” we can’t donate our building loan along with the building so this isn’t really an option for us,” he wrote in an emailed response to the group noting that Cinema West has invested over $50,000 per year for the past 20 years to cover costs at the theater we can come up with some better ideas this year.” executive director of the Redwood Region Economic Development Commission (RREDC) and president of the Eureka Theater’s board of directors Foster said he advised the group to draw up a detailed business plan to identify the cost of repairs maintenance and regular operating expenses the cost of maintaining these large old buildings can be daunting,” Foster told the Outpost “The Eureka Theater is looking at a multi-million-dollar restoration cost to restore the auditorium and save its marquee and tower much work was done at the Fortuna Theater by the current owner “If the owner is unable to make the necessary improvements to reopen the theater the first step is to gain ownership of it,” he added “The community group will either have to use an existing entity to do that or create one and then raise the money to buy it.” The Fortuna Theatre was previously listed for sale but it looks like it’s been taken off the market Rasmussen said the owner would “probably be willing to work with whoever wants to buy it.” Although the City of Fortuna doesn’t really have any say in what happens with the theater City Manager Amy Nilsen told the Outpost that the city is “very supportive” of the group’s efforts to acquire it.  Rasmussen make connections in the community as well as connect her with grant resources,” Nilsen wrote in an emailed response to our inquiry.  “Unfortunately the City’s finances are extremely limited and prevent the City from becoming financially involved in this endeavor.” the group is focused on spreading the word as it pursues nonprofit status and potential avenues for funding the group is encouraging people to advocate for the theater at Fortuna City Council meetings and keep sharing those stories “We’ve read so many beautiful stories on the Facebook page of memories and experiences people have with the theater or even just honoring the building,” Rasmussen said “We can’t have a building like that fall apart (NYSE: FSM | TSX: FVI) is pleased to announce the successful completion of the sale of its 100 percent interest in Compañia Minera Cuzcatlan S.A (“Cuzcatlan”) to JRC Ingeniería y Construcción S.A.C a private Peruvian company (the “Transaction”) Cuzcatlan is the owner of a 100 percent interest in the San Jose Mine in the state of Oaxaca The Transaction closed simultaneously with the execution of a definitive share purchase agreement (the “Share Purchase Agreement”) Under the terms of the Share Purchase Agreement JRC acquired all of the issued and outstanding shares of Cuzcatlan held by Fortuna’s subsidiaries in consideration for: Fortuna retains a 1.0 percent net smelter royalty on production from the San Jose Mine concessions payable after the first 6.1 million ounces of silver and the first 44,000 ounces of gold or 119,000 gold equivalent ounces have been mined or extracted from the property and operated the underground San Jose mine for thirteen years developing it into one of the 12 largest primary silver producers in the world for several years the Company placed the mine on care and maintenance due to its higher operating costs and the exhaustion of its mineral reserves and initiated a strategic process to divest of this non-core asset The San Jose mine still holds a small mineral resource inventory which does not meet Fortuna’s economic criteria for mineral reserve classification the anticipated receipt of future cash payments on the applicable post-closing dates in addition to the net smelter returns royalty and Fortuna's right to receive certain additional payments upon the completion of certain conditions post-closing; and the Company’s business strategy that any future payments in connection with the cash consideration PDF available: http://ml.globenewswire.com/Resource/Download/0ea08749-047c-426b-946f-6f9985c042b0 (NYSE: FSM | TSX: FVI) reports production results for the first quarter of 2025 from its four operating mines in West Africa and Latin America Fortuna reiterates its 2025 annual production guidance range of 334,000 to 373,000 ounces of gold and 0.9 to 1.0 million ounces of silver or between 380,000 and 422,000 GEOs, including lead and zinc by-products (refer to Fortuna news release dated January 21, 2025) All amounts expressed in this news release are in US dollars unless otherwise stated and zinc and is calculated using the following metal prices: $2,087/oz Au $2,084/t Pb and $2,450/t Zn or Au:Ag = 1:89.08 and zinc and is calculated using the following metal prices: $2,500/oz Au $2,100/t Pb and $2,700/t Zn or Au:Ag = 1:83.30 The San Jose Mine was placed on care and maintenance on December 24 2024 as the Company decided to enter a strategic process to divest of the non-core asset Côte d’Ivoire: Continued strong production Mine production totaled 477,333 tonnes of ore containing an estimated 38,869 ounces of gold from the Antenna Movement of waste during the quarter totaled 5,467,358 tonnes Mining continued to be focused on the Antenna Resource upgrade drilling continued successfully as well as permitting and project study work at the Kingfisher and the Sunbird underground deposits with the intention of integrating them into the life of mine plan later this year Séguéla produced 38,500 ounces of gold at an average head grade of 2.76 g/t Au a 9 percent increase and 6 percent decrease Recoveries increased compared to the previous quarter as operational performance improved following the rise in throughput achieved in previous quarters Mill throughput averaged 216 t/hr for the quarter Burkina Faso: Maintaining targeted production 134,692 tonnes of ore were treated at an average head grade of 7.81 g/t Au This represents a 15 percent decrease in grade Grades were lower due to planned changes in stope sequencing but were offset by higher tonnes milled due to increased production from underground mining activities Mining commenced at the 109 Zone open pit with ore and waste movement exceeding planned quantities A total of 143,771 tonnes were mined at an average grade of 7.06 g/t Au of which 90,625 tonnes were mined averaging 8.67 g/t Au from 55 Zone 21,695 tonnes averaging 8.99 g/t Au from QV Prime and 31,452 tonnes of ore averaging 1.06 g/t Au from the 109 Zone open pit with a stripping ratio of 1.8:1 in line with the plan for the year A total of 1.75 million tonnes of ore were placed on the leach pad averaging 0.55 g/t Au containing an estimated 30,943 ounces of gold Tonnes of ore placed on the leach pad was similar to the previous quarter Lindero’s gold production for the quarter was 20,320 ounces and 963 ounces contained in precipitated sludge The 24 percent decrease in production compared to the previous quarter is explained by the 8 percent lower ore grade placed on the pad since December 2024 and timing in the leaching of gold from the pad This is in line with the planned mining sequence and expected kinetics for the period The leach pad expansion project was completed at the end of the first quarter with minor close-out activities and demobilization now taking place This expansion will serve the mine for the next decade The 14.5 MWh photovoltaic plant project is approximately 76 percent complete with earthworks and hydraulic works both finished and the project remains on schedule to be completed by the third quarter of 2025 Metallurgical recovery for silver is calculated based on silver content in lead concentrate Caylloma produced 242,993 ounces of silver at an average head grade of 67 g/t Ag achieving similar production to the previous quarter Zinc and lead production was 13.8 and 8.8 million pounds with average head grades of 5.01 % Zn and 3.21 % Pb consistent production when compared to the preceding quarter and is in line with the planned mining sequence for the period Gold equivalent production for the first quarter totaled 11,566 ounces Senior Vice President of Technical Services of Fortuna is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia (Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects Chapman has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data The Forward-looking Statements in this news release may include plans and outlook; the merit of the Company’s mines and mineral properties; the future financial or operating performance of the Company; the Company’s ability to comply with contractual and permitting or other regulatory requirements; approvals and other matters operational risks associated with mining and mineral processing; uncertainty relating to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs regulations and political or economic developments in countries in which the Company does or may carry on business; risks associated with war such as the Ukrainian – Russian conflict and the Israel – Hamas war and the impacts such conflicts may have on global economic activity; risks relating to the termination of the Company’s mining concessions in certain circumstances; developing and maintaining relationships with local communities and stakeholders; risks associated with losing control of public perception as a result of social media and other web-based applications; potential opposition to the Company’s exploration failure and risks with implementation and integration; risks associated with climate change legislation; labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form including but not limited to the accuracy of the Company’s current Mineral Resource and Mineral Reserve estimates; that the Company’s activities will be conducted in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company its properties or its production estimates (which assume accuracy of projected head grade and recovery rate estimates and may be impacted by unscheduled maintenance labor and contractor availability and other operating or technical difficulties); the duration and effect of global and local inflation; geo-political uncertainties on the Company’s production operations and financial condition; the expected trends in mineral prices inflation and currency exchange rates; that all required approvals and permits will be obtained for the Company’s business and operations on acceptable terms; that there will be no significant disruptions affecting the Company's operations and such other assumptions as set out herein Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining and Petroleum Definition Standards on Mineral Resources and Mineral Reserves NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves differ significantly from the requirements of the Securities and Exchange Commission and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S All dollar amounts in this news release are expressed in United States dollars (NYSE: FSM | TSX: FVI) (“Fortuna” or the “Company”) today reported its financial and operating results for the fourth quarter and full year of 2024 Fourth Quarter and Full Year 2024 highlights “Q4 was a record quarter of free cash-flow at $95.6 million we realized 7% higher gold prices and 10% higher revenue leading to expanded operating cash flow margin from 33% to 50% With the growth in cash flow over the year and a sound balance sheet we returned $30.6 million to shareholders via share buybacks in Q4.” Mr Ganoza continued “Cost and capital optimization initiatives across the portfolio remains top of mind for management with various opportunities successfully implemented in 2024 and continuing into 2025 The sale of the non-core asset San Jose mine will remove our highest cost ounces and refocuses capital and management´s attention to high-value opportunities in the portfolio the successful optimization of the Séguéla mine is enabling us to plan for increased rates of annual gold production of 160,000 to 180,000 ounces at industry leading costs by 2026 Fourth Quarter and Full Year 2024 Consolidated Results Cash cost per ounce and AISCCash cost per ounce of gold equivalent (“GEO”) sold was $1,015 in Q4 2024 an improvement of 4% compared to $1,059 over the prior quarter All-in sustaining costs per GEO was $1,772 in Q4 compared to $1,668 in Q3 2024 due mainly to higher capex in mine development and infrastructure in the quarter related to the expansion of life of mine at Yaramoko and the planned expansion of annual gold production at Séguéla to 160,000 – 180,000 oz by 2026 Attributable Net Income and Adjusted Net Income Attributable net income for the period was $11.3 million compared to an attributable net income of $50.5 million in Q3 2024 The fourth quarter of 2024 was impacted by non-cash charges of $26.3 million as follows After adjusting for impairment charges and other non-recurring items adjusted attributable net income was $37.0 million or $0.12 per share compared to $49.9 million or $0.16 per share in Q3 2024 The decrease was explained by a foreign exchange (“FX”) loss of $10.4 million in Q4 2024 compared to a gain of $3.4 million in Q3 2024 and by a higher effective tax rate (“ETR”) representing approximately $16 million of additional income tax provision over the prior quarter The main cause of the FX loss and the higher ETR in Q4 was the 8% devaluation of the Euro versus the USD which had an estimated combined impact on earnings per share of 5 cents This was partially offset by higher sales of $27.3 million related to a higher realized gold price quarter over quarter and 4% higher gold sold Realized gold price in Q4 2024 was $2,662 per ounce compared to $2,490 in Q3 2024 Other items impacting the quarter compared to Q3 2024 were higher Corporate G&A expenditures of $4.4 million related to timing of expenses Cash flowNet cash generated by operations before working capital adjustments was $141.6 million or $0.46 per share After adjusting for working capital changes net cash generated by operations for the quarter was $150.3 million compared to $92.9 million in Q3 2024 The increase of $57.4 million reflects higher sales and positive change in working capital in Q4 2024 of $8.6 million compared to negative $26.4 million in Q3 2024 Free cash flow from ongoing operations in Q4 2024 increased $39 million over Q3 2024 to $95.6 million The increase was due to higher cash generated by operations partially offset by higher capital expenditures of $15.9 million Cash cost per ounce and AISC Consolidated cash cost per equivalent gold ounce was $1,015 The increase in cash cost was driven mainly by higher cash cost at Séguéla and the San Jose Mine operating in its last year of Mineral Reserves The increase in cash cost at Séguéla is explained mainly by lower head grades in 2024 and lower stripping and mining costs during Séguéla’s first semester of operations in 2023 Cash cost also increased at Lindero due to lower production and the impact of the appreciation of the Argentine peso All-in sustaining costs per gold equivalent ounce was $1,772 in Q4 2024 compared to $1,416 in Q4 2023 AISC in the quarter includes the $1.4 million annual investment gain (Q4 2023: $12.4 million) from cross border This is a benefit granted to exporters by the Argentine Government whereby 20% of export proceeds is allowed to be converted into pesos at a preferential exchange rate This benefit is intended to alleviate exporters for the impact of the overvaluation of the official exchange rate on input costs The increase in AISC was primarily the result of higher cash cost per ounce as described above and higher sustaining capital at Lindero related to the expansion of the leach-pad The composition of AISC was revised in Q4 2024 and the comparative periods were updated to reflect the change Refer to “Non-IFRS Financial Measures – All-in Sustaining Cost Per Gold Equivalent Ounce Sold” on page 27 in the 2024 MD&A for a description of the calculation and the reason for the change Attributable Net Income and Adjusted Net Income Attributable net income for the period was $11.3 million compared to an attributable net loss of $92.3 million in Q4 2023 The fourth quarter of 2024 was impacted by non-cash charges of $26.3 million compared to $118.4 million in the fourth quarter of 2023 After adjusting for write-downs and other non-recurring items adjusted attributable net income was $37.0 million or $0.12 per share compared to $20.6 million or $0.07 per share in Q4 2023 The increase was primarily due to higher gold prices The realized gold price was $2,662 per ounce in Q4 2024 compared to $1,990 per ounce in Q4 2023 This was partially offset by lower gold sales volume and higher cost per ounce Lower gold sales volume was mainly due to lower production at Séguéla The decrease in production at Séguéla and Lindero was due to lower head grades The higher cost per ounce was explained mainly by the lower head grades at Séguéla and Lindero lower stripping and mining costs during Séguéla´s second quarter of operations in Q4 2023 and the impact of the appreciation of the Argentine peso at Lindero Other items impacting the adjusted net income for the quarter compared to Q4 2023 were a higher unrealized foreign exchange loss of $8.5 million mostly explained by an 8% devaluation of the Euro versus the USD in the period and lower investment income of $11.0 million related to cross-border Depreciation and DepletionDepreciation and depletion decreased $9.0 million to $62.6 million in the fourth quarter of 2024 compared to $71.6 million in the comparable period of 2023 The decrease was primarily due to lower accounting balances at San Jose after a $90.6 million impairment at year end 2023 Depreciation and depletion in the period include $18.2 million related to the purchase price allocation from the Roxgold acquisition at Séguéla Cash Flow Net cash generated by operations for the quarter was $150.3 million compared to $105.1 million in Q4 2023 The increase of $45.2 million reflects higher sales and positive change in working capital in Q4 2024 of $8.7 million compared to nil in Q4 2023 Free cash flow from ongoing operations for the quarter was $95.6 million compared to $66.2 million in Q4 2023 The increase reflects higher net cash generated by operations Cash cost per ounce and AISC Cash cost per equivalent gold ounce was $987 The increase in cash cost is explained mainly by lower head grades at Séguéla in 2024 and lower stripping and mining costs during Séguéla’s first semester of operations in the second half of 2023 as well as higher cost at San Jose as explained earlier Cash cost for the full year also increased at Lindero due to lower production and the impact of the appreciation of the Argentine peso All-in sustaining costs per gold equivalent ounce was $1,640 in 2024 compared to the $1,4804 recorded in the prior year due mainly to higher cash cost per ounce as described above and higher capex mostly at Lindero AISC for 2024 includes the $9.7 million annual investment gain (FY 2023: $12.4 million) from cross border Attributable Net Income and Adjusted Net IncomeAttributable net income for the year was $128.7 million compared to an attributable net loss of $50.8 million in 2023 The loss in 2023 was explained by impairment charges of $90.6 million at the San Jose Mine attributable adjusted net income for 2024 was $144.0 million or $0.47 per share compared to $64.9 million or $0.22 per share in 2023 The increase was primarily due to higher gold prices and higher gold sales volume The realized gold price was $2,401 per ounce in 2024 compared to $1,948 per ounce in 2023 Higher gold sales volume was mainly due to the full year contribution of Séguéla upon successful commissioning and ramp-up in Q2 2023 partially offset by lower production at Lindero aligned with the grade profile in the mine plan and lower head grades and processed ore at San Jose Depreciation and DepletionDepreciation and depletion for 2024 increased $10.3 million to $230.0 million compared to $219.6 million in 2023 The increase was primarily due to an increase in ounces sold at Séguéla and partially offset by lower depletion expenses at San Jose Depreciation and depletion in the period include $71.6 million related to the purchase price allocation from the Roxgold acquisition at Séguéla Cash FlowNet cash generated by operations before working capital changes was $438.2 million or $1.42 per share net cash generated by operations for 2024 was $365.7 million compared to $296.9 million in 2023 The increase of $68.8 million is explained by higher sales partially offset by negative changes in working capital of $72.5 million in 2024 from an increase in receivables of $46.4 million due to timing and delays in repayments of VAT in Burkina Faso and an increase in inventories of $24.5 million related to an increase in ore stockpiles at Lindero and Séguéla This compares to a negative working capital adjustment of $9.7 million in 2023 Higher taxes paid of $17.7 million was due to Séguéla paying income taxes for the first time in 2024 after initiating commercial production in the second half of 2023 Free cash flow from ongoing operations for 2024 was $202.9 million compared to $153.5 million in 2023 The increase of $49.4 million reflects higher net cash generated by operations partially offset by higher sustaining capital expenditures of $14.6 million after growth capex of $44.3 million and the Séguéla NSR repurchase of $6.5 million Quarterly and Annual Operating and Financial Highlights mine production totaled 715,008 tonnes of ore and containing an estimated 53,796 ounces of gold from the Antenna Movement of waste during the quarter totaled 3,670,138 tonnes Production was mainly focused from the Antenna pit with the balance of production sourced from the Koula and Ancien pits The decrease in gold production was due to lower head grades and lower recovery and partially offset by higher milled tonnes Plant throughput for the quarter was 208 tonnes per hour (TPH) surpassing the name plate design capacity of 154 TPH by 35% Gold production in 2024 totaled 137,781 ounces achieving the higher end of the annual guidance range A 75% increase in ounces of gold produced during the year ended December 31 2024 was mainly due to a full year of production in 2024 compared to only six months in 2023 Cash cost per gold ounce sold was $653 for the fourth quarter of 2024 and $584 for the full year compared to $323 for the fourth quarter of 2023 and $357 for the full year of 2023 The increase in cash costs is explained mainly by lower head grades in 2024 and lower stripping and mining costs during Séguéla’s first six months of operation in the second half of 2023 All-in sustaining cash cost per gold ounce sold was $1,376 for the fourth quarter of 2024 compared to $737 in the same period of the previous year the all-in sustaining cash cost was $1,153 The increase for the quarter was primarily the result of higher cash costs higher sustaining capital from higher stripping and the purchase of capital spares as well as lower volume of metal sold The increase for the year was due to higher cash costs increased royalties due to higher realized metal prices and higher sustaining capital expenditures Brownfields capital expenditures were $6.7 million for the full year in 2024 as a result of drilling activities to define the geometry of mineral deposits the Yaramoko Mine treated 102,105 tonnes of ore and produced 29,576 ounces of gold with an average gold head grade of 9.18g/t 5% and 28% increases when compared to the same period in 2023 Lower tonnage milled was due to 16 days of lost milling time as a consequence of an equipment failure Higher production in the fourth quarter of 2024 was due to higher grades; partially offset by lower tonnes processed Gold production in 2024 totaled 116,206 ounces The cash cost per ounce of gold sold for the quarter ended December 31 was $812 compared to $949 in the same period in 2023 The decrease for the quarter is mainly attributed to lower mining costs and higher grades the cash cost per ounce of gold sold was $860 The full year increase is mainly due to higher mining costs during prior quarters The all-in sustaining cash cost per gold ounce sold was $1,302 for the quarter ended December 31 compared to $1,720 in the same period of 2023 The decrease is mainly due to lower sustaining capital costs and an administrative penalty paid in the fourth quarter of 2023 the all-in sustaining cash cost was $1,359 in 2024 The decrease in AISC was mainly the result of lower sustaining capital costs a total of 1,757,290 tonnes of ore were placed on the heap leach pad containing an estimated 34,151 ounces of gold Gold production for the fourth quarter of 2024 totaled 26,806 ounces This represents a 9% decrease in total ounces compared to fourth quarter of 2023 as a result of lower grades and lower ounces contained in fine carbon The mine started placing the first lift of ore on the new leach pad expansion area in the second half of October 2024 Gold production was comprised of 24,679 ounces in doré bars 2,086 ounces of gold contained in rich fine carbon and 41 ounces contained in copper precipitate For the full year 2024 gold production totaled 97,287 ounces achieving midpoint of annual production guidance The cash cost per ounce of gold for the quarter ending December 31 was $1,063 compared to $934 in the same period of 2023 The increase in cash cost per ounce of gold for both the quarter and the full year was primarily due to the impact of appreciation of the Argentine peso lower gold production and lower by-product credits from copper sales The increase in cash costs was partially offset by operational efficiency initiatives including a change in the hauling and loading fleet reduction in cyanide consumption and crushing throughput AISC per gold ounce sold during Q4 2024 was $1,873 AISC in the quarter includes $1.4 million investment gain (Q4 2023: $12.4 million) from cross border This is a benefit granted to exporters by the Argentine Government whereby 20% of export proceeds are allowed to be converted into pesos at a preferential exchange rate This benefit is intended to alleviate the impact of the overvaluation of the official exchange rate on input costs The increase in AISC is explained by higher cash cost and capex in Q4 2024 partially offset by the elimination of the 8% export duty in 2024 and lower investment gains recorded in Q4 2024 The composition of AISC was revised in Q4 2024 and the comparative period was updated to reflect the change Refer to “Non-IFRS Financial Measures – All-in Sustaining Cost Per Gold Equivalent Ounce Sold” in the 2024 MD&A for a description of the calculation and the reason for the change AISC per gold ounce sold in 2024 was $1,793 AISC per ounce for 2024 was higher due mainly to higher cost per ounce and sustaining capital expenditures related to the leach pad expansion partially offset by the elimination of export duties in 2024 as described above the leach pad expansion project was approximately 89% complete The leach pad expansion remains on schedule for completion during the first half of 2025 San Jose produced 594,373 ounces of silver and 4,239 ounces of gold at average head grades for silver and gold of 118 g/t and 0.85 g/t The decrease in silver and gold production for the quarter is explained by the lower extracted mineral and head grades mainly due to the decreasing grade profile of Mineral Reserves in the mine plan Annual production in 2024 totaled 2,548,402 ounces of silver and 17,811 ounces of gold which were 18% and 6% below the lower end of annual guidance range Approximately 5% of the lower production for both metals was due to the effect of the iron oxide in the metallurgical recovery Head grades for the year were aligned with the geological model The cash cost per silver equivalent ounce in the fourth quarter of 2024 an increase from $20.45 in the same period of 2023 the cash cost per silver equivalent ounce sold was $25.25 compared to $14.28 in the same period of 2023 The higher cost per ounce was primarily the result of lower production and silver equivalent ounces sold and previously capitalized costs being expensed The all-in sustaining cash cost of payable silver equivalent ounce in the fourth quarter of 2024 increased by 36% to $29.94 and full year 2024 increased 45% to $28.22 compared to $21.98 and $19.40 for the same periods in 2023 These increases were mainly driven by higher cash costs and lower volume of metal sold the Caylloma Mine produced 249,238 ounces of silver at an average head grade of 67 g/t Silver production for 2024 totaled 1,176,543 ounces surpassing the upper end of annual guidance range by 7% Lead and zinc production for the quarter was 9.5 million pounds and 13.9 million pounds Lead production decreased by 12% and zinc production remained comparable to the same period in 2023 Lead and zinc production for 2024 totaled 39.6 and 51.9 million pounds Lead and zinc production were above the higher end of annual guidance by 33% and 16% Increased production is the result of positive grade reconciliation to the reserve model in the lower levels of the underground mine Gold production in the fourth quarter totaled 128 ounces with an average head grade of 0.11 g/t The cash cost per silver equivalent ounce sold in the fourth quarter of 2024 was $16.53 compared to $13.42 in the same period in 2023 the cash cost per ounce of silver equivalent sold was $14.12 The higher cost per ounce for the quarter and the year was primarily the result of lower silver production and the impact of higher realized silver prices on the calculation of silver equivalent ounce sold partially offset by lower treatment charges The all-in sustaining cash cost per ounce of payable silver equivalent in the fourth quarter of 2024 compared to $22.34 for the same period in 2023 The all-in sustaining cash cost per ounce of payable silver equivalent for the full year 2024 was $21.72 compared to $19.90 in 2023 The increase for the quarter and year was the result of higher cash costs per ounce higher worker’s participation and the impact of higher realized silver prices on the calculation of silver equivalent ounces If AISC was calculated using the guidance metal prices AISC would have been $23.60 and $19.27 per ounce for the quarter and year respectively Senior Vice President of Technical Services is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of British Columbia (Registration Number 36328) and is the Company’s Qualified Person (as defined by National Instrument 43-101) Fourth Quarter Unaudited and Annual Audited Income Statement and Cash Flow The Company has disclosed certain financial measures and ratios in this news release which are not defined under the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and are not disclosed in the Company's financial statements These non-IFRS financial measures and non-IFRS ratios are widely reported in the mining industry as benchmarks for performance and are used by management to monitor and evaluate the Company's operating performance and ability to generate cash in addition to financial measures and ratios prepared in accordance with IFRS certain investors use these non-IFRS financial measures and ratios to evaluate the Company’s performance the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company’s performance prepared in accordance with IFRS To facilitate a better understanding of these measures and ratios as calculated by the Company In addition see “Non-IFRS Financial Measures” on page 27 in the Company’s management’s discussion and analysis for the year ended December 31 and on page 26 of the Company’s management’s discussion and analysis for the nine months ended September 30 which section is incorporated by reference in this news release for information regarding each non-IFRS financial measure and non-IFRS ratio disclosed in this news release including an explanation of their composition; an explanation of how such measures and ratios provide useful information to an investor; and the additional purposes for which management of the Company uses such measures and ratio including a description of the change in the composition of AISC which was revised in Q4 2024 and for comparative periods The 2024 MD&A and Q3 2024 MDA may be accessed on SEDAR+ at www.sedarplus.ca under the Company’s profile the Company has calculated these measures consistently for all periods presented Reconciliation of Debt to total net debt and net debt to adjusted EBITDA ratio for December 31 Reconciliation of net income to adjusted attributable net income for the three months ended September 30 2024 and the three and twelve months ended December 31 Reconciliation of net income to adjusted EBITDA for the three months ended September 30 Reconciliation of net cash from operating activities to free cash flow from ongoing operations for the three months ended September 30 Reconciliation of cost of sales to cash cost per ounce of gold equivalent sold for the three months ended September 30 Reconciliation of cost of sales to all-in sustaining cash cost per ounce of gold equivalent sold for the three months ended September 30 Reconciliation of cost of sales to cash cost per payable ounce of silver equivalent sold for the three and twelve months ended December 31 Reconciliation of all-in sustaining cash cost and all-in cash cost per payable ounce of silver equivalent sold for the three and twelve months ended December 31 A conference call to discuss the financial and operational results will be held on Thursday Shareholders, analysts, media and interested investors are invited to listen to the live conference call by logging onto the webcast at: www.webcaster4.com/Webcast/Page/1696/52039 or over the phone by dialing in just prior to the starting time Dial in number (Toll Free): +1.888.506.0062Dial in number (International): +1.973.528.0011Access code: 830901 Replay number (Toll Free): +1.877.481.4010Replay number (International): +1.919.882.2331Replay passcode: 52039 Playback of the earnings call will be available until Thursday, March 20, 2025. Playback of the webcast will be available until Friday, March 6, 2026. In addition, a transcript of the call will be archived on the Company’s website This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (collectively statements about the Company's plans for its mines and mineral properties including exploration and development plans at the Séguéla Mine the Tongon North prospect and the Diamba Sud Project; the Company’s anticipated financial and operational performance in 2025; the ability of the Company to mitigate the inflationary pressures on supplies used in its operations; estimated capital expenditures and estimated exploration spending in 2025 including amounts for exploration and development activities at its properties; statements regarding the Company's liquidity access to capital; the impact of high inflation on the costs of production and the supply chain; the Company’s expectation regarding the timing of the completion of the leach pad expansion project at the Lindero Mine; the Company’s expectations regarding production at the Séguéla Mine in and expected all-in sustaining costs for 2026; statements regarding the completion of the sale of the San Jose Mine; the Company's business strategy plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates concentrate grade and quality; changes in tax rates and tax laws these Forward-looking Statements can be identified by the use of words such as "estimated" "could" or "should" occur or be achieved and similar expressions The forward-looking statements in this news release also include financial outlooks and other forward-looking metrics relating to the Company and its business including references to financial and business prospects and future results of operations and cost guidance and anticipated future financial performance which may be considered future oriented financial information or financial outlooks within the meaning of applicable Canadian securities legislation (collectively has been approved by management of the Company and is based on assumptions which management believes were reasonable on the date such FOFI was prepared plans and prospects of the Company and its business and properties These projections are provided to describe the prospective performance of the Company's business readers are cautioned that such information is highly subjective and should not be relied on as necessarily indicative of future results and that actual results may differ significantly from such projections FOFI constitutes forward-looking statements and is subject to the same assumptions risk factors and qualifications as set forth below the accuracy of the Company’s current mineral resource and reserve estimates; that the Company’s activities will be conducted in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company its properties or changes to production estimates (which assume accuracy of projected ore grade labor and contractor availability and other operating or technical difficulties); geo-political uncertainties that may affect the Company’s production the ability to meet current and future obligations and such other assumptions as set out herein Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources  A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/e2e75da8-b68d-4dc4-8e7e-aefefb5142dd 1Refer to Non-IFRS Financial Measures section at the end of this news release and to the MD&A accompanying the Company’s financial statements filed on SEDAR+ at www.sedarplus.ca for a description of the calculation of these measures lead and zinc and is calculated using the following metal prices: $2,661/oz Au $2,157/t Pb and the following metal prices for full year 2024  $2,401/oz Au 4 The composition of AISC was revised in Q4 2024 and the comparative periods were updated to reflect the change Refer to “Non-IFRS Financial Measures – All-in Sustaining Cost Per Gold Equivalent Ounce Sold” for a description of the calculation and the reason for the change Sydney Masur Signs Professional Contract With Fortuna Hjørring2/3/2025 5:42:00 PM | Women's Soccer (NYSE: FSM | TSX: FVI) reports that the Company has filed today its fiscal 2024 annual report on Form 40-F with the U.S Securities and Exchange Commission (“SEC”) The Form 40-F, which includes the Company’s fiscal 2024 annual audited financial statements, management’s discussion and analysis, and annual information form, is available on the Company’s website and on the SEC´s website Printed copies of the annual financial statements are available free of charge to Fortuna shareholders upon written request A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/6af79d75-5a1b-4837-aac6-bacbe84c08fb About | Privacy Policy | Advertising| Editorial | Contact Us Subscribe | Login Firm Website: https://fortunaadmissions.com/ Fortuna Admissions is a dream team of former admissions directors from the world’s top schools bringing unparalleled insider expertise to MBA admissions consulting Coaches at Fortuna have reviewed thousands of applications shaped admissions policies and had the final say on who got in helps candidates craft standout applications and maximize their chances at the world’s most competitive programs Read Fortuna Admissions reviews below to see what clients have to say All client reviews are real and verified by Poets&Quants Our Partner Sites: Poets&Quants for Execs | Poets&Quants for Undergrads | Tipping the Scales | We See Genius Website Design By: Yellowfarmstudios.com (NYSE: FSM | TSX: FVI) is pleased to announce it has entered into a binding letter agreement (the “Letter Agreement”) to sell (the “Transaction”) its 100 percent interest in Compañia Minera Cuzcatlan S.A Fortuna will cease to have any interest in the San Jose Mine other than the net smelter return royalty described below The San Jose Mine was scheduled to initiate a progressive closure process starting in early 2025 developing it into one of the 12 largest primary silver producers in the world for several years.”  Mr San Jose is no longer a core asset in our portfolio and we believe Minera del Balsas is well suited to continue extracting value benefiting both employees and local stakeholders.” Mr “This transaction allows us to focus management’s efforts on higher value opportunities within our portfolio.” MDB will acquire all of the issued and outstanding shares of Cuzcatlan held by Fortuna’s subsidiaries for the aggregate consideration of: Fortuna will receive a 1.0 percent net smelter royalty on production from the San Jose Mine concessions for a 5-year term as of the start of production The completion of the Transaction is subject to customary conditions of closing and is expected to be completed in the first quarter of 2025 statements about the ability of the Company or any of its subsidiaries to complete the sale of the shares of Cuzcatlan; the anticipated receipt of future cash payments at closing and on the applicable anniversary in addition to the net smelter returns royalty and Fortuna's right to receive certain additional payments upon the completion of certain conditions post-closing; the timing of the progressive closing process for the San Jose Mine; and the Company’s business strategy expectations regarding the Company completing the sale of its interest in the San Jose Mine in accordance with on a basis consistent with the Company’s current expectations; that any future payments in connection with the cash consideration the net smelter returns royalty or in respect of any future additional payments A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/b20dd294-6fac-4381-8291-4ab085be823a One piece of brilliant football writing a day Some 89 minutes into their side’s battle with Preußen Münster the 50,000 home fans respond to Jamil Siebert’s remonstrations The strapping centre-half has quelled an opposition attack with a well-timed slide tackle the ensuing deflection bouncing off his opposite number and out for a goal kick and calls for the Merkur Spiel-Arena to carry the boys home Die Flingeraner are nursing a tenuous 1–0 lead and have been on the back foot since a 70th-minute red card for Myron van Brederode.  Bundesliga game that all sides of this cavernous stadium spring into life The constant drum beat emanating from the Südtribüne takes on a new defiant tone The young’uns experiencing their first game are hoisted onto their dad’s shoulders The wizened old season ticket holders struggle to their feet and crank up strained vocal cords nobody in the red and white of Fortuna takes a backward step and they won’t accept a late smash-and-grab from these upstart interlopers battering down their door.  An exalted roar shrouds the referee's whistle The singing continues as the players take a quick lap to show their appreciation.  there might be no such a thing as a free lunch—a bratwurst will set you back €4.10 at the Merkur Spiel—but not one of the home support spent a cent to get through the turnstiles today Already a member? Sign in (NYSE: FSM | TSX: FVI) provides its updated Mineral Reserve and Mineral Resource estimates as of December 31 for its four operating mines in West Africa and the Americas as well as the Arizaro Project located at the Lindero Mine in Salta the Diamba Sud Gold Project in Senegal and the San Jose Mine in Mexico All references to dollar amounts in this news release are expressed in US dollars Gold equivalent ounces referred to in this news release are calculated using metal prices of $1,880/oz for Au Highlights of Mineral Reserve and Mineral Resource Update 2024 Mineral Reserves and Mineral Resources the operation successfully replenished what was mined with Mineral Reserve gold ounces remaining relatively unchanged while gold grade increased by 11 percent to 3.38 g/t Au Inferred Resources increased by 121 percent over the same period primarily due to the addition of the Kingfisher deposit the Séguéla Mine has Proven and Probable Mineral Reserves of 9.8 Mt containing 1.1 Moz Au in addition to Indicated Resources of 3.4 Mt containing 396,000 oz Au and Inferred Resources of 6.8 Mt containing 618,000 oz Au The Company disclosed an updated estimate of Mineral Reserves and Resources as of October 31, 2024 (refer to Fortuna news release dated December 10, 2024) Mineral Reserves increased by 0.4 Mt and 45,000 gold ounces Changes were due to the upgrading of the Badior deposit Inferred Resources to Probable Reserves offset by mining related depletion in the last two months of 2024 Measured and Indicated Resource gold ounces Inferred Resources decreased 0.5 Mt or 59,000 oz Au in relation to the upgrading of the Badior deposit to Mineral Reserves the operation continued replenishing Mineral Reserves depleted through mining with the addition of 0.2 Mt containing 64,000 oz Au via underground developments and drilling of the Zone 55 and Bagassi South QV Prime veins the Yaramoko Mine has Proven and Probable Mineral Reserves of 0.6 Mt containing 151,000 oz Au in addition to Measured and Indicated Resources and Inferred Resources of 0.1 Mt containing 26,000 oz Au Mineral Reserve tonnes decreased 27 percent while gold grades decreased 5 percent to 7.49 g/t Au The changes are due to mining related depletion in 2024 of 0.5 Mt of material containing 120,000 oz Au counteracted by the successful replenishment program described above decreased by 2,000 ounces and Inferred Resources increased by 10,000 ounces as a result of depletion through the removal of isolated non-economic mineralization and the discovery of extensions to mineralization in the 55 Zone and Bagassi South underground mines In spite of year-over-year mining depletion there were minimal changes to Mineral Reserves at Lindero with tonnes and gold grade decreasing by 3 percent and 4 percent the Lindero Mine has Proven and Probable Mineral Reserves of 69.2 Mt containing 1.2 Moz Au and Inferred Resources of 30.4 Mt containing 449,000 oz Au Mineral Reserve depletion of ore delivered to the heap leach pad in 2024 comprising 6.4 Mt containing 121,000 oz Au was largely offset by a decrease in the reporting cut-off grade due to higher gold prices remained relatively unchanged year-over-year Inferred Resource tonnes increased by 5.1 Mt or 20 percent with the gold grade remaining relatively unchanged at 0.46 g/t The increase in Inferred Resources is due to reporting at a lower cut-off grade and updated pit optimization related to the application of a higher gold price the Arizaro Gold Project has Inferred Mineral Resources of 32.4 Mt averaging 0.37 g/t Au containing 389,000 oz Au an increase of 34 percent in tonnes and 26 percent in gold ounces compared to last year as a result of the application of a higher gold price and subsequent adjustments in the pit shell The Brownfields exploration budget for Lindero is $3.4 million, which includes 5,000 meters of exploration drilling at Arizaro, following up on recent reinterpretations driven by additional geochemical sampling, and alteration mapping completed in 2024 (refer to Fortuna news release dated January 21, 2025) Mineral Reserve tonnes increased by 7 percent lead and zinc grades remained relatively unchanged as the operation successfully replaced and added to the reserves that were mined through the year the Caylloma Mine has Proven and Probable Mineral Reserves of 2.4 Mt containing 6.5 Moz Ag in addition to Inferred Resources of 3.8 Mt containing 12.9 Moz Ag The increase in Mineral Reserve tonnes is due to the conversion of 557,000 tonnes offset by mining related depletion of 489,000 tonnes or 68,000 GEOs; a decrease of 124,000 tonnes as a result of changes in commercial terms and metal price; and a decrease of 112,000 tonnes due to adjustments in the estimation parameters and geologic interpretation decreased by 44 percent year-over-year to 1.0 Mt with silver due to the removal of crown pillar material and isolated narrow mineralized structures from the inventory Inferred Resource tonnes decreased by 16 percent year-over-year whereas lead and zinc grades decreased by 12 and 16 percent The decrease in Inferred Mineral Resources is a result of an increase in cut-off values used for reporting Mineral Resources from $130/t to $135/t and adjustments in the geologic interpretation and sterilization of material associated with isolated or narrow mineralization resulting in a decrease of 274,000 tonnes through exploration drilling of the Animas and Animas NE veins The Brownfields exploration program budget for 2025 at Caylloma is $4.8 million which includes $2.2 million for 9,000 meters of resource extension drilling, in addition to $2.6 million for 1,600 meters of drill testing regional targets (refer to Fortuna news release dated January 21, 2025) Although the mine depleted its reserves in 2024 successful exploration drilling resulted in a year-over-year increase in Measured and Indicated Resource GEOs of 17 percent with an increase of 9 percent in silver grade Inferred Resource GEOs increased by 12 percent with an increase of 12 percent in silver grade the San Jose Mine has Measured and Indicated Mineral Resources of 1.2 Mt containing 6.1 Moz Ag in addition to Inferred Resources of 1.0 Mt containing 5.6 Moz Ag The changes in Measured and Indicated Resources are due to infill drilling upgrading Inferred Resources and an increase in the reporting cut-off grade from 130 g/t to 153 g/t Ag Eq The increase in Inferred Mineral Resources are a result of changes in cut-off values used for reporting Mineral Resources adjustments in the geologic interpretation and infill drilling resulting in upgrading of Inferred Resources to Indicated Resources resulting in a decrease of 68,000 GEOs counteracted by exploration drilling of the Victoria and Yessi mineralized structures The San Jose Mine was placed on care and maintenance on December 24 as the Company decided to enter a strategic process to divest of the non-core asset the Company announced it had entered into a binding agreement with Minas del Balsas S.A the Company terminated the acquisition agreement with MdB and is now continuing with the sale process to divest the asset Fortuna estimates Diamba Sud contains an Indicated Resource of 7.8 Mt at an average gold grade of 1.90 g/t containing 473,000 oz Au and an Inferred Resource of 3.1 Mt at an average gold grade of 1.47 g/t containing 148,000 oz Au This represents the Company’s first-time disclosure of the Diamba Sud Mineral Resources prepared in accordance with National Instrument 43-101 Diamba Sud Gold Project Mineral Resources by deposit The Mineral Resource estimate incorporates a total of 1,109 diamond and reverse circulation (RC) drill holes totaling 141,101 meters The Mineral Resource is comprised of five deposits including Area A All RC drilling at Diamba Sud used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow If water ingress exceeded the air pressure and drilling converted to diamond core tails Samples were collected at 1-meter intervals from an onboard cyclone then split on site to produce two 1.5 kg samples the first sample was submitted for analysis the second stored at the core yard as a duplicate The majority of diamond drill holes at Diamba Sud were drilled with either HQ or NQ sized diamond drill bits marked up for sampling using standard lengths of one meter or to a geological boundary Samples were then cut into equal halves using a diamond saw One half of the core was left in the original core box and stored in a secure location at the company core yard at the project site catalogued and placed into sealed bags and securely stored at the site until shipment All Diamba Sud RC and diamond core samples were shipped to ALS Global’s preparation laboratory in Kedougou Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all Diamba Sud samples Quality control procedures included the systematic insertion of blanks the ALS laboratory inserted its own quality control samples Diamba Sud’s Mineral Resource estimate was prepared using data with an effective cut-off date of June 30 Three dimensional wireframes were generated for the host lithologies and high-grade mineralized envelopes based on nominal cut-off grades of 0.3 g/t Wireframes for each mineralized envelope were used to select and flag drillhole samples Samples were preferentially sampled at either 1 or 2-meter intervals regardless of drilling technique based on the deposit Composites for each mineralized domain were reviewed separately and in conjunction with log probability plots All data was collectively treated as a single statistical domain for the purposes of geostatistical analysis Input composite data for each individual domain were assessed for the existence of outliers Top cut grade capping was applied on a semi-quantitative basis per-domain log probability and mean/variance plots for each domain Grade caps were generally applied at the 98th percentile or above An experimental semi-variogram was generated for each domain with a modeled semi-variogram developed A block model was built for each of the Diamba Sud deposits Block models were aligned with the national grid utilizing the same UTM coordinate system as the input data with consideration of the likely selective mining unit used to define block size mid and high-grade mineralized domains were used as hard boundaries in the grade interpolation Only grades inside each mineralized wireframe were used to interpolate the blocks inside the same wireframe Inverse distance weighting (IDW) or ordinary kriging (OK) was selected for grade interpolation in the mineralized domains dependent on the quality of the modeled variograms It is considered by the Qualified Person to be appropriate for this style of deposit All estimates were performed on a parent block basis Search parameters for estimation were determined based on Kriging Neighborhood Analysis (KNA) Single block KNA within a well-informed portion of the deposit was utilized The search radii used a quadrant search method to improve sample selectivity for each estimate An oriented ellipsoid search was used to select data for interpolation Search ellipsoid orientations were based on orientations derived from variogram analysis A single pass search was used to estimate gold within the individual mineralized envelopes Fixed bulk density values were assigned to individual lithologies and weathering profiles based on more than 20,000 water immersion measurements of drill core taken from across Diamba Sud Initial validation of the Diamba Sud block models was undertaken using a variety of methods including checks for un-estimated mineralization blocks incorrect or absent assignation of density values and mineralized blocks or blocks with density values above topography swath plots were generated along the three principal axes to assess the representativity of estimated grade profiles in comparison to the input composite grades Swath plots were generated on a per-mineralization solid basis Swath plots and log-probability plots from the two largest and most well-informed mineralized domains indicate a suitable level of adherence of the estimated grades to the expected values observed within the input composite data Mineral Resources are reported on a 100 percent ownership basis at SMU block sizes and incremental gold cutoff grades in accordance with varying metallurgical recoveries and projected mining and general costs within pit shell optimizations assuming a long-term gold metal price of $2,160/oz is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of British Columbia (Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects the Mineral Resource and Mineral Reserve estimates; statements about the Company’s business strategies currency exchange rates and interest rates in 2025; life of mine estimates; the merit of the Company’s mines and mineral properties; and the future financial or operating performance of the Company or achievements of the Company to be materially different from any results regulations and political or economic developments in countries in which the Company does or may carry on business; the Company’s ability to divest itself of the San Jose Mine; risks associated with war and the impacts they may have on global economic activity; risks relating to the termination of the Company’s mining concessions in certain circumstances; developing and maintaining relationships with local communities and stakeholders; risks associated with losing control of public perception as a result of social media and other web-based applications; potential opposition to the Company’s exploration failure and risks with implementation and integration; risks associated with climate change legislation; labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form for the fiscal year ended December 31 or results to differ materially from those described in Forward-looking Statements its properties or its production estimates (which assume accuracy of projected ore grade labor and contractor availability and other operating or technical difficulties); the duration and effect of global and local inflation; the duration and impacts of geo-political uncertainties on the Company’s production reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining The historical resource estimates in respect of the Diamba Sud Project included in this news release have been prepared in accordance with the requirements of the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy Australian Institute of Geoscientists and Minerals Council of Australia each differ significantly from the requirements of the Securities and Exchange Commission A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/8dc0e967-fd60-4cf5-99e7-71b361bd9d3b (NYSE: FSM | TSX: FVI) is pleased to announce that it will be attending Mining Forum Europe which is being held at the Park Hyatt in Zürich Jorge A. Ganoza, President, Chief Executive Officer, and co-founder of Fortuna, will be presenting on Tuesday, April 1 at 2:10 p.m. Central European Time in Ballroom 3. You can view the presentation live by clicking here Mining Forum Europe is Europe’s only independent investment event serving the mining industry and its investors Mining Forum Europe offers an unparalleled representation of private and publicly traded precious metal equities spanning all stages of production (NYSE: FSM | TSX: FVI) has scheduled the release of its first quarter 2025 financial statements and MD&A for Wednesday The company will host a conference call to discuss financial and operational results on Thursday The call will feature key executives including Jorge A The conference call will be accessible via webcast and phone The webcast recording will be accessible until May 8 (NYSE: FSM | TSX: FVI) ha programmato la pubblicazione dei suoi bilanci finanziari e MD&A del primo trimestre 2025 per mercoledì 7 maggio 2025 La società terrà una conference call per discutere i risultati finanziari e operativi giovedì 8 maggio 2025 Alla chiamata parteciperanno i principali dirigenti Cesar Velasco (COO - America Latina) e David Whittle (COO - Africa Occidentale) La conference call sarà accessibile tramite webcast e telefono con la possibilità di riascolto fino al 22 maggio 2025 La registrazione del webcast sarà disponibile fino all'8 maggio 2026 (NYSE: FSM | TSX: FVI) ha programado la publicación de sus estados financieros y MD&A del primer trimestre de 2025 para el miércoles 7 de mayo de 2025 La compañía llevará a cabo una llamada conferencia para discutir los resultados financieros y operativos el jueves 8 de mayo de 2025 La llamada contará con la participación de ejecutivos clave Cesar Velasco (COO - América Latina) y David Whittle (COO - África Occidental) La conferencia será accesible vía webcast y teléfono con reproducción disponible hasta el 22 de mayo de 2025 La grabación del webcast estará disponible hasta el 8 de mayo de 2026 (NYSE: FSM | TSX: FVI)는 2025년 5월 7일 수요일 장 마감 후 2025년 1분기 재무제표 및 MD&A 발표를 예정하고 있습니다 회사는 2025년 5월 8일 목요일 동부 표준시 기준 오후 12시에 재무 및 운영 결과에 대해 컨퍼런스 콜을 진행할 예정입니다 (NYSE : FSM | TSX : FVI) a prévu la publication de ses états financiers et MD&A du premier trimestre 2025 pour le mercredi 7 mai 2025 La société tiendra une conférence téléphonique pour discuter des résultats financiers et opérationnels le jeudi 8 mai 2025 à 12h00 heure de l'Est La conférence téléphonique réunira des cadres clés Cesar Velasco (COO - Amérique latine) et David Whittle (COO - Afrique de l'Ouest) La conférence sera accessible via webcast et téléphone avec une rediffusion disponible jusqu'au 22 mai 2025 L'enregistrement du webcast sera accessible jusqu'au 8 mai 2026 (NYSE: FSM | TSX: FVI) hat die Veröffentlichung seiner Finanzberichte und MD&A für das erste Quartal 2025 für Mittwoch um 12:00 Uhr Eastern Time eine Telefonkonferenz abhalten um die finanziellen und operativen Ergebnisse zu besprechen An der Telefonkonferenz nehmen wichtige Führungskräfte teil Cesar Velasco (COO - Lateinamerika) und David Whittle (COO - Westafrika) Die Konferenz ist per Webcast und Telefon zugänglich (NYSE: FSM | TSX: FVI) announces that it will release its financial statements and MD&A for the first quarter on Wednesday Shareholders, analysts, media and interested investors are invited to listen to the live conference call by logging onto the webcast at: https://www.webcaster4.com/Webcast/Page/1696/52367 or over the phone by dialing in just prior to the starting time Dial in number (Toll Free): +1.888.506.0062Dial in number (International): +1.973.528.0011Access code: 794316 Replay number (Toll Free): +1.877.481.4010Replay number (International): +1.919.882.2331Replay passcode: 52367 Playback of the earnings call will be available until Thursday, May 22, 2025. Playback of the webcast will be available until Friday, May 8, 2026. In addition, a transcript of the call will be archived on the Company’s website PDF available: http://ml.globenewswire.com/Resource/Download/a0f1baa9-bb14-4c76-b1cf-d7802676c72f Fortuna Mining (NYSE: FSM | TSX: FVI) has announced the sale of its Yaramoko Mine in Burkina Faso to Soleil Resources International (SRI) US$70 million payable on closingUS$57.5 million in cash dividends from Roxgold SanuUp to US$53 million in VAT receivables upon meeting conditions The strategic exit is driven by Yaramoko's remaining mineral reserves (approximately one year) and challenging business climate in Burkina Faso The deal helps Fortuna avoid approximately US$20 million in future mine closure liabilities The transaction is expected to complete in Q2 2025 subject to ministerial approval and other customary conditions Fortuna Mining (NYSE: FSM | TSX: FVI) ha annunciato la vendita della sua Miniera Yaramoko in Burkina Faso a Soleil Resources International (SRI) US$70 milioni pagabili al momento della chiusuraUS$57,5 milioni in dividendi in contante da Roxgold SanuFino a US$53 milioni in crediti IVA al raggiungimento delle condizioni Questa uscita strategica è motivata dalle rimanenti riserve minerarie di Yaramoko (circa un anno) dalla cessazione delle attività di esplorazione e dal difficile clima imprenditoriale in Burkina Faso L'accordo consente a Fortuna di evitare circa US$20 milioni in future responsabilità per la chiusura della miniera La transazione dovrebbe concludersi nel secondo trimestre del 2025 soggetta all'approvazione ministeriale e ad altre condizioni consuete Fortuna Mining (NYSE: FSM | TSX: FVI) ha anunciado la venta de su Minería Yaramoko en Burkina Faso a Soleil Resources International (SRI) valorada en aproximadamente US$130 millones US$70 millones pagaderos al cierreUS$57,5 millones en dividendos en efectivo de Roxgold SanuHasta US$53 millones en créditos de IVA al cumplir con las condiciones La salida estratégica es impulsada por las reservas minerales restantes de Yaramoko (aproximadamente un año) la cesación de actividades de exploración y el difícil clima empresarial en Burkina Faso El acuerdo ayuda a Fortuna a evitar aproximadamente US$20 millones en futuras responsabilidades de cierre de la mina Se espera que la transacción se complete en el segundo trimestre de 2025 sujeta a la aprobación ministerial y otras condiciones habituales Fortuna Mining (NYSE: FSM | TSX: FVI)는 부르키나파소의 야라모코 광산을 모리셔스의 사기업인 Soleil Resources International (SRI)에 매각한다고 발표했습니다 종료 시 지급되는 7천만 달러Roxgold Sanu로부터의 현금 배당금 5천7백5십만 달러조건 충족 시 최대 5천3백만 달러의 부가가치세 환급금 이 거래는 Fortuna가 약 2천만 달러의 미래 광산 폐쇄 책임을 회피하는 데 도움을 줍니다 Fortuna Mining (NYSE: FSM | TSX: FVI) a annoncé la vente de sa Mine Yaramoko au Burkina Faso à Soleil Resources International (SRI) 70 millions USD à payer à la clôture57,5 millions USD en dividendes en espèces de Roxgold SanuJusqu'à 53 millions USD en créances de TVA sous réserve de conditions Cette sortie stratégique est motivée par les réserves minérales restantes de Yaramoko (environ un an) la cessation des activités d'exploration et le climat commercial difficile au Burkina Faso L'accord permet à Fortuna d'éviter environ 20 millions USD de responsabilités futures liées à la fermeture de la mine La transaction devrait être finalisée au deuxième trimestre 2025 sous réserve de l'approbation ministérielle et d'autres conditions habituelles Fortuna Mining (NYSE: FSM | TSX: FVI) hat den Verkauf seiner Yaramoko Mine in Burkina Faso an Soleil Resources International (SRI) die auf etwa 130 Millionen USD geschätzt wird die bei Abschluss fällig sind57,5 Millionen USD in Bar-Dividenden von Roxgold SanuBis zu 53 Millionen USD an Mehrwertsteuerforderungen bei Erfüllung der Bedingungen Der strategische Ausstieg wird durch die verbleibenden Mineralreserven von Yaramoko (ca die Einstellung der Explorationsaktivitäten und das herausfordernde Geschäftsklima in Burkina Faso vorangetrieben etwa 20 Millionen USD an zukünftigen Verbindlichkeiten für die Schließung der Mine zu vermeiden vorbehaltlich der ministeriellen Genehmigung und anderer üblicher Bedingungen Fortuna Mining's $130 million sale of its Yaramoko Mine represents a strategically sound exit from Burkina Faso that yields substantial financial benefits With only one year of mineral reserves remaining at Yaramoko Fortuna is extracting maximum value from a depleting asset while simultaneously avoiding $20 million in future mine closure liabilities The transaction structure is particularly favorable providing immediate liquidity through the $70 million closing payment and $57.5 million in cash dividends plus potential recovery of up to $53 million in VAT receivables This cash infusion strengthens Fortuna's balance sheet at an opportune time when the company is looking to redirect resources toward more promising opportunities This divestiture aligns with prudent portfolio management practices in the mining sector where companies increasingly prioritize jurisdictional risk reduction By completely exiting Burkina Faso amid what management describes as an "increasingly challenging business climate," Fortuna is de-risking its operational footprint while monetizing an asset with diminishing returns The transaction effectively transforms a short-lived productive asset with significant closure costs into immediate cash that can be deployed toward longer-term growth initiatives For a company with a market cap of $1.8 billion this transaction represents approximately 7% of its enterprise value making it a material financial event that should positively impact Fortuna's strategic flexibility going forward PDF available: http://ml.globenewswire.com/Resource/Download/5903e495-85da-4a0e-8db2-d0e7fc6f3138 (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Séguéla Mine in Côte d’Ivoire Senior Vice President of Exploration at Fortuna “Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit with several notable intersections including 7.2 g/t Au over an estimated true width of 31.5 meters in drill hole SGRC2278.” Mr deep exploration drilling testing the southern extent has continued to return excellent results including 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215 representing the deepest intercept to date with mineralization remaining open at depth and down plunge.” Once the infill program and near exploration are successfully completed we expect to migrate the Kingfisher resources into the Séguéla Mine Mineral Reserves in 2025 The recent drilling has continued to highlight the widths and grade tenor intersected in the first drilling phase supporting and refining the geological interpretation Kingfisher remains open at depth for most of the drilled 2-kilometer strike length with the deepest drilling testing to only approximately 250 meters below surface (refer to Figure 2) Figure 2: Kingfisher deposit long-section - looking west Drilling has now extended mineralization approximately 700 meters to the south beyond the limit of the current underground Inferred Resource and some 600 meters below surface totaling 5,120 meters of a planned 12,000-meter drilling program have been received including an interval of 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215 which is the deepest intersection drilled at Séguéla (refer to Figure 3) The last phase of the current program will step out above and below the current intersection to further refine the geometry and controls on the interpreted mineralized shoot during the second quarter of 2025 Figure 3: Sunbird long section - looking west Refer to Appendix 1 for full details of the drill holes and assay results for this drill program at the Séguéla Gold Mine Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies All drilling was carried out under the supervision of the Company’s personnel All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory The residual 87.5 percent samples were stored at the drill site until assay results were received and validated Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard All diamond drilling (DD) drill holes started with HQ sized diameter before reducing to NQ diameter diamond drill bits on intersecting fresh rock One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site and placed into sealed bags and securely stored at the site until shipment All RC and DD samples were transported to ALS’s preparation laboratory in Yamoussoukro before also being transported via commercial courier to ALS’s facility in Ouagadougou Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples duplicates and sample standards into the sample stream is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001) Weedon has reviewed and approved the scientific and technical information contained in this news release analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core There were no limitations to the verification process plans and outlook; the merit of the Company’s mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters Séguéla Mine drill program details of the drill holes and assay results for the Kingfisher and Sunbird deposits Depths and widths reported to nearest significant decimal place 3 RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail A PDF accompanying this announcement is available at  « Human Rights Commission Says: It’s Not Our Job to Police Billboards Trump, Musk Plan to Shutter Federal Offices Includes Arcata Site for NOAA Fisheries, Redwood National Park Staff » Here’s the press release from the Fortuna Police Department: About 400 Fortuna PG&E customers are without power this afternoon after a Fortuna Police vehicle crashed into a historic property near the corner of 9th and O streets a Fortuna police officer attempted a stop on a motorcyclist who ran a stop sign in the neighborhood The motorcyclist fled from the officer’s attempts to pull him over the call came in that the officer had crashed Photos posted to the “Fortuna Happenings” Facebook group by an account belonging to the “Gushaw-Mudgett House” — a historic home near Ninth and O streets — showed a police vehicle slammed head-first into a power pole near the building “Our carport is probably toast,” said the Gushaw-Mudgett account Power outage updates at this link Thanks for visiting ! The use of software that blocks ads hinders our ability to serve you the content you came here to enjoy. We ask that you consider turning off your ad blocker so we can deliver you the best experience possible while you are here. as this was written on my phone from a hospital bed (As the great Lee Corso would say: "This is just a small bump in the road But there were games to watch and thoughts to be written off Saturday’s festivities Updated strength of schedule rankings among one-loss teams after Saturday plus the average of the three in parentheses: and reason has to be taken into account with these numbers but Indiana is also the only one of that group to have gotten blown out so that should obviously weigh more when comparing the two 10-1 teams than SOS should but it’s a data point worth examining closely it reinforces to me just how much Boise State — yes a G5 team — is benefitting from brand bias The Inside Zone is a reader-supported publication consider becoming a free or paid subscriber 4. Yeah, I tweeted something to that effect Tuesday night, including the disclaimer that I might be writing my media obituary. And yeah, I realize the irony of me being admitted to the hospital the following morning. What can I say? I like to live dangerously. 5. This is what we wanted. And how cool is this? So many games near and far had major impacts on the 12-team Playoff field, even games that we didn’t necessarily have circled going into Saturday. Courtesy of Getty Images.Pardon the typos (As the great Lee Corso would say: \\\"This is just a small bump in the road But there were games to watch and thoughts to be written off Saturday\u2019s festivities Updated strength of schedule rankings among one-loss teams after Saturday but it\u2019s a data point worth examining closely it reinforces to me just how much Boise State \u2014 yes a G5 team \u2014 is benefitting from brand bias 4. Yeah, I tweeted something to that effect Tuesday night including the disclaimer that I might be writing my media obituary I realize the irony of me being admitted to the hospital the following morning So many games near and far had major impacts on the 12-team Playoff field even games that we didn\u2019t necessarily have circled going into Saturday Update: Fortuna Bank opened its doors after receiving final approval from the Federal Deposit Insurance Corp success in her career comes down to relationships—and the same goes for the banking business After spending more than two decades in financial services Rawlins was tapped by a former client and a former boss to help found a bank with a mission to empower women “They reached out to me because of the relationships that we had before,” Rawlins says Two and a half years later, the upstart Fortuna Bank had received conditional approval from the Ohio Department of Financial Institutions and the Federal Deposit Insurance Corp it had raised $17 million of its $20 million goal—85 percent—and had a management team waiting in the wings which has leased office space across from Grandview Yard on Goodale Boulevard aims to offer a different banking experience from a traditional institution—one based on relationships “Hopefully it feels a little bit more warm and welcoming,” Rawlins says “We won’t have a teller line—we’ll have private offices instead so people can feel like their conversations are being kept confidential And then we’ll have an open central area that can be utilized for programming like education and events.” The vision is that by connecting the community to the bank women will have the chance to meet financial services professionals who can counsel them on business funding Fortuna’s founders want to fill a niche for women bank customers who typically borrow less and seek less funding than their male counterparts They want to listen to their clients’ stories and make decisions based on relationships “We know because we’ve walked in their shoes We’ve seen some of the discrepancies and the financial literacy gaps that can take place for women We felt like that was a great place we could step into,” Rawlins says should feel out of place walking into Fortuna we’d love to be a great community bank for everybody.” 871 Goodale Blvd., Grandview Heights; fortunabank.com Business: Women-owned bank in organization Previous: Retail bank leadership roles with First Financial Bank and First Bexley Bank This story is from the Women in Business feature in the Summer 2024 issue of Columbus CEO. Subscribe at subscribe.columbusceo.com he is survived by his three brothers Ryan and his wife Gretchen 10; and Zachary and his girlfriend Emily Josselyn He is also survived by his grandmother “Mema” Barbara Spaulding He is now in the loving arms of his loved ones that went before him: his grandfathers Roy “Gramps” Spaulding and “Big Ed” Fortuna He then returned to the place he called home He graduated from Black River High School in 2011 and he was excited about the planned return to this role The most important thing in life to Cody was his family He had such a special relationship with his beloved dog Jett She helped him as he struggled through treatments with brain cancer Friends described him as a ray of sunshine There will be a private family service at the Catholic Church in Ludlow A Celebration of Life will be open to all on Saturday the family asks for donations towards The Cody Fortuna Memorial in Ludlow Cash donations can be dropped off at the Town Hall; please specify it is for The Cody Fortuna Memorial An online guestbook can be found at www.cabotfh.com The legend of gold and glory continues in Midas Golden Touch 3 It follows rumours in the Czech press the company’s Penta Investments owner had ultimately decided not to move forward with a sale after a months-long process overseen by JP Morgan said: “We believe in the significant growth potential of FEG and are committed to invest to support its further development “Dieter brings a wealth of experience from various companies and has an extensive track record in growing that Dieter is already with us at Fortuna providing continuity and that we have also successfully cooperated with him at Aero Vodochody.” following a long career in several leading European real estate This included two-years spent as executive vice president at Airbus Group and most recently as CEO and chairman of German real estate service provider Planet Home Group between 2020 and 2024 Other notable roles included as president and CEO of Bombardier Transportation in Central and Eastern Europe and as President and CEO of Aero Vodochody Aerospace John added: “I am convinced of FEG´s great potential to further develop its position as leading gaming and betting operator in the CEE region “I am proud to lead FEG in this important phase of expansion I appreciate Penta´s commitment to support FEG as its long-term strategic investment which is creating a strong ground for our transformation journey.” The change in leadership followed Penta’s recent decision to retain full ownership of FEG and to focus on long-term expansion Penta confirmed rumours to NEXT.io in March 2024 that it has entered into discussions to sell the business Reuters had speculated such a transaction could be valued at €2bn highlighting the company’s then €200m EBITDA Potential buyers at the time included European gambling operators and private equity firms A spokesperson for the investment fund told NEXT.io last March: “While it’s true that Penta has initiated discussions with JPMorgan to explore various strategic options for Fortuna Entertainment Group it’s essential to emphasise that this process extends beyond a mere transactional sale it underscores Penta’s commitment to meticulously evaluating alternative avenues for the future development of the franchise ensuring sustainable growth and long-term value creation.” These talks followed the Penta taking the Czech betting business private in 2018