- Fortuna Mining (FSM, Financial) reports record free cash flow of $111.3 million for Q1 2025, a 30% increase quarter-over-quarter.
- The company realized an attributable net income of $61.7 million ($0.20 per share), supported by strong operational performance.
- Strategic asset divestments, including the San Jose Mine in Mexico and Yaramoko Mine in Burkina Faso, are set to streamline operations and focus on higher-value opportunities.
Fortuna Mining Corp. (FSM) has delivered an exceptional first quarter in 2025, announcing a record free cash flow of $111.3 million, marking a 30% rise from the previous quarter, with a margin improvement to 38%. The company ended the quarter with $309.4 million in cash and short-term investments, significantly enhancing its liquidity profile to $459.4 million.
The mining company reported an attributable net income of $61.7 million in continuing operations, translating to $0.20 per share, a substantial increase from $0.07 per share in Q4 2024. Gold equivalent production reached 103,459 ounces, with consolidated cash costs at $929 per gold equivalent ounce (GEO) and all-in sustaining costs (AISC) at $1,640 per GEO.
In a strategic move to optimize its portfolio, Fortuna announced the sale of its San Jose Mine in Mexico and reached an agreement to sell the Yaramoko Mine in Burkina Faso for $70 million plus a $57.5 million dividend. These transactions are expected to free up approximately $50 million, earmarked for reinvestment into high-value growth opportunities.
Despite facing higher cash costs at certain operations due to lower grade ores and increased stripping requirements, Fortuna's financial and operational agility continues to drive robust growth and shareholder returns. The company's successful portfolio streamlining efforts spotlight its dedication to concentrating resources on maximally productive assets.
While celebrating these achievements, Fortuna remains committed to safety across all its operations. The company reported a tragic incident involving a subcontractor at the Séguéla Mine, emphasizing its ongoing commitment to improving safety standards and maintaining a zero-harm work environment.
