Business
Fortuna Reports Results for the First Quarter of 2025
(All amounts are expressed in US dollars, tabular amounts in millions, unless otherwise stated) ...
About this update from Fortuna Mining Corp.
[{"type":"text","content":"Fortuna Reports Results for the First Quarter of 2025\n\n\n\n\n (All amounts are expressed in US dollars, tabular amounts in millions, unless otherwise stated)\n \n\n\n VANCOUVER, British Columbia, May 07, 2025 (GLOBE NEWSWIRE) --\n \n Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) (“Fortuna” or the “Company”)\n \n today reported its financial and operating results for the first quarter of 2025.\n \n\n (Results from the Company’s San Jose Mine have been excluded from its Q1 2025 continuing results, along with the comparative figures due to the classification of the asset as held for sale as at March 31, 2025.)\n \n\n\n\n First Quarter 2025 Highlights\n \n\n\n\n Cash and Cashflow\n \n\n\n\n Record free cash flow\n \n 1\n \n from ongoing operations of $111.3 million in Q1, a quarter over quarter (“QoQ”) increase of 30%. QoQ free cash flow margin over sales improved to 38% from 31%\n \n\n Net cash from operations before working capital of $138.1 million or $0.45 per share. Adjusting for cash outflows related to discontinued operations of $8.6 million, net cash from operations before working capital was $146.7 million, a QoQ increase of 4%\n \n\n Quarter-end cash and short-term investments of $309.4 million, a QoQ increase of $78.1 million from strong growth in free cash flow\n \n\n Liquidity was $459.4 million, and the Company increased its positive net cash\n \n 1\n \n position to $136.9 million (including short-term investments), from $58.8 million in Q4 2024\n \n\n\n\n Profitability\n \n\n\n\n Attributable net income from continuing operations of $61.7 million or $0.20 per share, a QoQ increase of $0.13 per share\n \n\n Attributable adjusted net income\n \n 1\n \n of $62.1 million or $0.20 per share, a QoQ increase of $0.08 per share\n \n\n\n\n Return to Shareholders\n \n\n\n\n Returned $4.2 million to shareholders in Q1 through the repurchase of 0.9 million shares\n \n\n\n\n Operational\n \n\n\n\n Gold equivalent production (“GEO”) of 103,459 ounces\n \n 3\n \n in Q1\n \n\n Consolidated cash cost per GEO\n \n 1\n \n from continuing operations of $929 in Q1, down from $1,015 in Q4 2024 (excluding San Jose from the comparative period cash cost is up from $888 in Q4 2024)\n \n\n Consolidated AISC per GEO\n \n 1\n \n from continuing operations of $1,640 for Q1 down from $1...