- Fortuna Mining Corp. (FSM, Financial) completes the sale of Yaramoko Mine for $70 million in cash, enhancing liquidity.
- The company updates its 2025 production guidance, reducing gold equivalent output by 18%.
- All-in Sustaining Costs (AISC) guidance for 2025 increases by 6% to $1,670-$1,765 per gold equivalent ounce.
Fortuna Mining Corp. (FSM) has successfully finalized the divestiture of its Yaramoko Mine in Burkina Faso to Soleil Resources International Ltd. for a cash transaction of $70 million. This move, complemented by a $53.8 million cash dividend and potential VAT receivables of up to $53 million, strengthens Fortuna's balance sheet. The company's first-quarter cash and short-term investments now exceed $380 million, with total liquidity surpassing $530 million, positioning it among the strongest financially stable mid-tier precious metals producers.
Following the sale of Yaramoko and the San Jose Mine, Fortuna's updated 2025 guidance indicates a significant production shift. The company forecasts a reduction in gold equivalent production, estimating an 18% decrease to 309,000-339,000 ounces. Despite cash cost guidance remaining steady at $895-$1,015 per gold equivalent ounce (GEO), the All-in Sustaining Cost (AISC) guidance sees an increase by 6%, now projected at $1,670-$1,765 per GEO.
This strategic move allows Fortuna to reallocate $50 million in capital from mine closures to higher-value opportunities, exiting an unpredictable operating environment in Burkina Faso. The company continues to operate three mines: Séguéla in Côte d'Ivoire, Lindero in Argentina, and Caylloma in Peru, aiming to focus on assets with stronger long-term potential and lower jurisdictional risk.
