From GlobeNewswire: 2025-05-13 05:00:00

Fortuna Mining Corp. has completed the sale of its interest in Roxgold Sanu SA in Burkina Faso to Soleil Resources International Ltd. for $70 million. The sale increases the company’s cash and short term investments to over $380 million and liquidity to over $530 million. The company has ceased all operations in Burkina Faso.

The divestiture of the Yaramoko Mine has led Fortuna to update its consolidated production and cost guidance for 2025. The updated guidance shows a shift in focus towards higher-value opportunities aligned with strategic objectives. The company’s consolidated AISC for 2025 ranges from $1,670 to $1,765 per GEO.

The transaction involved SRI acquiring all shares of the Acquired Companies from Fortuna for $70 million in cash. Roxgold Sanu also paid a cash dividend of $53.8 million plus $3.7 million in withholding tax to the company. The agreement includes the potential for the company to receive up to approximately $53 million in value added tax receivables.

Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d’Ivoire, Mexico, and Peru. The company focuses on sustainability and generating shared value for stakeholders through efficient production, environmental protection, and social responsibility. Jorge A. Ganoza serves as President, CEO, and Director of the company.

The company’s forward-looking statements include estimated production forecasts, cash costs, and all-in sustaining cash costs for 2025. These projections are based on management’s assumptions and beliefs regarding the company’s mineral resource estimates, operational risks, and economic conditions. However, actual results may differ significantly from these projections.

Non-IFRS financial measures, including cash costs and all-in sustaining costs, are used by the company in financial reporting. These measures are not standardized under IFRS and may not be comparable to other mining companies’ financial measures. The company provides explanations and reconciliations of these measures in its 2024 MD&A available on SEDAR+.



Read more at GlobeNewswire: Fortuna Completes Divestiture of Yaramoko Mine and Provides