Fortuna Mining Corp: Q3 2024 Production Report Insights
Production Update for the Third Quarter of 2024
Vancouver, British Columbia - Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) recently announced its production results for the third quarter of 2024, showcasing the output from its five operating mines located in different regions, including West Africa and Latin America.
Q3 2024 Highlights in Production
Fortuna achieved notable results with a total gold equivalent production of 110,820 ounces. This figure reflects a slight decrease compared to 128,671 ounces in the same period of 2023, but shows improvement over the 116,570 ounces from the preceding quarter.
Gold and Silver Production Metrics
The breakdown of production is as follows:
- Gold production: 91,251 ounces
- Silver production: 816,187 ounces
When examining the nine-month totals for 2024, the company reported consolidated production of 273,645 ounces of gold and 2.9 million ounces of silver. This translates into approximately 339,933 ounces of gold equivalent.
Consolidated Production Summary
Fortuna has reiterated its annual production guidance for 2024, maintaining an expected range of 457,000 to 497,000 gold equivalent ounces.
Lindero Mine Expansion Project
The Lindero leach pad expansion represents a significant capital investment for the company in 2024, anticipated to complete later this month. Currently, this project is roughly 76% complete, keeping within budgetary constraints with a total investment of $41.7 million.
Operational Performance Metrics
Throughout the quarter, several factors influenced performance across operations, including:
- Gold grades at the mines
- Operational efficiencies in milling
At the Séguéla Mine, 34,998 ounces of gold were produced, indicating a focus on both productivity and quality.
Regional Mining Performance
Yaramoko Mine, Burkina Faso
The Yaramoko Mine demonstrated continued strong performance, producing 28,006 ounces of gold in the third quarter. The operation reflected sustainable mining practices with an increase in tonnes milled.
Contributions from Latin America
The Lindero Mine, located in Argentina, produced 24,345 ounces of gold during this period. This was aided by effective operational enhancements done throughout the quarter, including improved ore grades delivered to the leach pads.
San Jose Mine, Mexico
However, the San Jose Mine faced challenges, yielding 3,771 ounces of gold as it continues operations toward the end of its reserves. Effective management strategies are crucial at this stage, as the focus turns to optimizing the remaining ore body.
Caylloma Mine Production
In Peru, the Caylloma Mine produced 305,446 ounces of silver and maintained consistent output in lead and zinc. Effective resource management remains a priority as the company navigates through the operational landscape.
Commitment to Sustainability
Fortuna Mining Corp. emphasizes its commitment to sustainable practices, ensuring that its operations not only focus on productivity but also on environmental stewardship and community partnerships. This holistic approach enables a shared value system among stakeholders.
Contact and Further Information
For further inquiries, interested parties can reach out to:
Investor Relations:
Carlos Baca | info@fmcmail.com
Website: fortune mining.com
Frequently Asked Questions
What was Fortuna Mining's gold equivalent production in Q3 2024?
Fortuna Mining reported a gold equivalent production of 110,820 ounces in Q3 2024.
How much silver did Fortuna Mining produce in this quarter?
The company produced 816,187 ounces of silver in the third quarter of 2024.
What is the annual production guidance for Fortuna in 2024?
Fortuna has reiterated its annual production guidance at between 457,000 and 497,000 gold equivalent ounces.
Which mines contributed to Fortuna's Q3 2024 production?
Production came from Fortuna’s five operating mines across West Africa and Latin America, including Lindero and Séguéla.
How is Fortuna maintaining its sustainability efforts?
Fortuna Mining emphasizes sustainability through environmental stewardship and community partnerships across its mining operations.
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