Fortuna | Jotup

Fortuna pays down $40 million of debt from increased cash flow

Retrieved on:

Tuesday, October 10, 2023

NYSE, TSX, EBITDA, Fortuna, Bank statement, Book, Record, Total, FSM, News, Hand, FVI, Bank, Audit, Security (finance)

VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that it has paid down $40 million of its revolving credit facility at the end of the third quarter of 2023, using cash on hand. As at June 30, 2023, Fortuna reported a leverage ratio1 of 0.9 times total net debt2 to adjusted EBITDA3. After the payment of $40 million, it is expected that the Company's total outstanding debt balance will stand at approximately $206 million on its credit facility (excluding letters of credit), and approximately $46 million of convertible notes, for an estimated total net debt, after cash and cash equivalents, of $133 million as at the end of the third quarter of 2023. This represents a reduction of approximately $65 million in total net debt in the period reflecting increased cash flows from the contribution of the Séguéla Mine in its first full quarter of production.

Key Points:

As at June 30, 2023, Fortuna reported a leverage ratio1 of 0.9 times total net debt2 to adjusted EBITDA3.
After the payment of $40 million, it is expected that the Company's total outstanding debt balance will stand at approximately $206 million on its credit facility (excluding letters of credit), and approximately $46 million of convertible notes, for an estimated total net debt, after cash and cash equivalents, of $133 million as at the end of the third quarter of 2023.
This represents a reduction of approximately $65 million in total net debt in the period reflecting increased cash flows from the contribution of the Séguéla Mine in its first full quarter of production.
The Q2 2023 MD&A may be accessed on SEDAR+ at www.sedarplus.ca under the Company’s profile

Séguéla drives Fortuna to record gold equivalent production of 128,671 ounces in the third quarter 2023

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Thursday, October 5, 2023

Mining, Gold, Ancien, News, Fortuna, Movement, Palladium, Koula

Séguéla is well positioned to achieve the mid-point of its gold production guidance of 60 to 75 thousand ounces for the second half of 2023 (refer to Fortuna news release dated January 17, 2023 ).

Key Points:

Séguéla is well positioned to achieve the mid-point of its gold production guidance of 60 to 75 thousand ounces for the second half of 2023 (refer to Fortuna news release dated January 17, 2023 ).
In the third quarter of 2023, mine production totaled 502,326 tonnes of ore, averaging 3.48 g/t Au, and containing an estimated 56,136 ounces of gold from the Antenna Pit.
The first stage of grade control drilling was completed at the Ancien deposit during the third quarter, with results currently being processed.
At the processing plant, 310,387 tonnes of ore were treated at an average grade of 3.83 g/t Au producing 31,498 ounces of gold.

Fortuna to present at the Gold Forum Americas 2023 in Colorado Springs, Colorado

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Monday, September 11, 2023

TSX, FSM, The Broadmoor, NYSE, FVI, Fortuna, Silver mining, News, Hotel

VANCOUVER, British Columbia, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that it will be presenting at the Gold Forum Americas, which is being held at the Broadmoor Hotel & Resort in Colorado Springs, Colorado, from September 17 to September 20, 2023.

Key Points:

VANCOUVER, British Columbia, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that it will be presenting at the Gold Forum Americas, which is being held at the Broadmoor Hotel & Resort in Colorado Springs, Colorado, from September 17 to September 20, 2023.
Jorge A. Ganoza, President, Chief Executive Officer, and co-founder of Fortuna will be presenting on Monday, September 18 at 11:40 a.m. Mountain Daylight Time.

Fortuna intersects 90.9 g/t Au over 1.8 meters at Barana Prospect, Séguéla Mine, Côte d´Ivoire

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Tuesday, August 8, 2023

FSM, Senior, Face, Resource, Mineral, Barana, FVI, RC, Hg, Static pressure, Sunbird, HQ, Gold, National instrument, Anomaly, Water, Member, Groundwater, DD, National Instrument 43-101, TSX, ICP, ZN, News, NYSE, ALS, Fortuna, American Cordillera, Mining, Uranium mining, Natural gas, Road, Printed circuit board, PB

Further drilling to test the depth potential of the southerly plunging high grade shoots is planned for the second half of 2023.

Key Points:

Further drilling to test the depth potential of the southerly plunging high grade shoots is planned for the second half of 2023.
Refer to Appendix 1 for full results of all holes drilled in this phase of the Sunbird exploration program.
Refer to Appendix 1 for full results received for all drill holes drilled in this phase of the Barana and Badior drilling program.
All reverse circulation (RC) drilling at Séguéla used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags.

Fortuna Investments Strengthens West Coast Presence with Appointment of Frostee Rucker as Vice President and Head of Sports and Entertainment

Retrieved on:

Tuesday, May 9, 2023

LOS ANGELES, May 09, 2023 (GLOBE NEWSWIRE) -- Fortuna Investments (“Fortuna”), a venture capital and advisory firm focused on high-growth industries, announced today that Frostee Rucker has been named Vice President of its West Coast office.

Key Points:

LOS ANGELES, May 09, 2023 (GLOBE NEWSWIRE) -- Fortuna Investments (“Fortuna”), a venture capital and advisory firm focused on high-growth industries, announced today that Frostee Rucker has been named Vice President of its West Coast office.
Prior to joining Fortuna, Mr. Rucker was a National Football League (NFL) captain and 13-year veteran of the NFL as a defensive lineman for four franchises, most recently playing for the Oakland Raiders.
Justus has built a dynamic team who share my passion for success while creating value and supporting progressive companies,” added Mr. Rucker.
Additionally, he founded STAY READY , a 501c3 non-profit organization committed to providing children a chance to participate in sports regardless of financial status.

Fortuna renews share repurchase program

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Friday, April 28, 2023

FSM, Toronto Stock Exchange, Share repurchase, Calendar, FVI, TSX, NYSE, Fortuna, Common, Security (finance), Car rental, Reinsurance

The share repurchase program starts on May 2, 2023 and will expire on the earlier of:

Key Points:

The share repurchase program starts on May 2, 2023 and will expire on the earlier of:
May 1, 2024; one calendar year after the initiation of the share repurchase program;
The date Fortuna acquires the maximum number of common shares allowable under the NCIB; or
The date Fortuna otherwise decides not to make any further repurchases under the NCIB.
As a result, 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.
Pursuant to the NCIB, Fortuna is permitted to repurchase up to 14,534,581 common shares, being five percent of its outstanding 290,691,634 common shares as of April 25, 2023.
As of April 27, 2023, Fortuna repurchased an aggregate of 2,201,404 common shares on the open market at a weighted-average price of US$2.69 per common share, excluding brokerage fees.

Fortuna Advisors Releases Annual Buyback ROI Report: S&P 500 Buyback Volume Reaches New Quarterly and Annual Records in 2022

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Thursday, April 13, 2023

Health care, S&P, ROI, Energy, Fortuna, Share repurchase, Recycling, Cryptocurrency, Marketing

Key findings include:

Key Points:

Key findings include:
S&P 500 buyback volume notched new quarterly and annual Records in 2022.
The S&P 500's 363 largest repurchasers bought back over $919 billion in stock for the full year and nearly $280 billion in Q1 2022 alone.
Buyback ROI was the lowest on record for any five-year period since Fortuna began tracking the metric.
S&P 500 buyback volume notched new quarterly and annual records in 2022.

Fortuna files Form 40-F, Annual Report

Retrieved on:

Thursday, March 30, 2023

Form, TSX, FSM, Annual report, NYSE, FVI, Fortuna, Bank statement

VANCOUVER, British Columbia, March 30, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that the Company has filed today its fiscal 2022 annual report on Form 40-F with the U.S. Securities and Exchange Commission (“SEC”).

Key Points:

VANCOUVER, British Columbia, March 30, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that the Company has filed today its fiscal 2022 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 2022 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.

Inaugural HERtels by Choice Development Seminar Empowers the Next Generation of Hospitality Leaders, Advances Choice Hotels' Commitment to Diverse Owner Base

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Thursday, March 23, 2023

Choice Hotels, Small business, Marketing, John C. Hertel, Woman, CHH, HR, NYSE, Fortuna, Female, Tourism, Renewable energy, Hotel, Choice

Inaugural HERtels by Choice Hotels development seminar empowers the next generation of hospitality leaders.

Key Points:

Inaugural HERtels by Choice Hotels development seminar empowers the next generation of hospitality leaders.
"Choice Hotels was the first brand that I owned which taught me how to build and grow my portfolio.
Since launching the HERtels program in 2021, Choice Hotels has awarded more than 50 contracts specifically to women entrepreneurs.
For more information about HERtels and upcoming events, as well as Choice Hotels development opportunities, visit www.choicehotelsdevelopment.com/diversity .

Fortuna reports Sunbird infill drilling results at Séguéla, Côte d´Ivoire

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Monday, March 13, 2023

Fortuna, Groundwater, NYSE, Static pressure, HQ, RC, Senior, ALS, Gold, TSX, News, FSM, DD, Face, Water, Life, Sunbird, Feasibility study, FVI, Mining, Road, Rare-earth element

Drilling has continued to intersect shallow high-grade mineralization in areas previously modeled as lower grade based on earlier wider spaced drilling.

Key Points:

Drilling has continued to intersect shallow high-grade mineralization in areas previously modeled as lower grade based on earlier wider spaced drilling.
Refer to Appendix 1 for full results received for all holes drilled in the first phase of the Sunbird drill program.
Figure 1: Sunbird Deposit long-section looking west showing recent drilling results.
If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails.