Record Sales and Earnings
Fortuna Mining reported record sales of $275 million and earnings of $50.5 million, with earnings per share of $0.16, surpassing analysts' consensus of $0.11.
Strong EBITDA and Cash Flow
The company achieved an EBITDA of $131 million, representing a 48% margin over sales, and generated a strong free cash flow of $56 million from ongoing operations.
West African Operations Exceed Targets
Seguela and Yaramoko mines exceeded production targets with no lost time injuries, contributing significantly to the company's performance.
Successful Capital Projects Management
Capital projects are tracking well against guidance, with the Lindero leach pad expansion on time and budget, supporting the mine for a decade.
Increased Exploration Budget
The exploration budget increased from $37 million to $44 million to expand drill programs at the Seguela Mine.