Fortuna Mining Reports Q3 2024 Production Results
Fortuna Mining has announced production results for the third quarter of 2024 from its five operating mines in West Africa and Latin America. The company's Q3 gold equivalent production totaled 110,820 ounces, down from 128,671 ounces in Q3 2023 and 116,570 ounces in Q2 2024.
Gold production for the quarter reached 91,251 ounces, while silver production amounted to 816,187 ounces. Both figures were lower compared to Q3 2023, when gold production was 94,821 ounces and silver production was 1.68 million ounces.
The company also reported zinc production of 12.8 million pounds and lead production of 10 million pounds, down from 14 million and 10.3 million pounds, respectively, in Q3 2023. Despite these declines, Fortuna reiterated its annual production guidance for 2024, targeting between 457,000 and 497,000 gold equivalent ounces, including lead and zinc by-products.
The Lindero Mine's leach pad expansion remains Fortuna's largest capital project for 2024, with a capital investment of \$41.7 million. By the end of September, the project was 76% complete and remains on budget. The first ore to the new leach pad is expected later this month.
Mine-Specific Performance Overview
- Lindero Mine, Argentina: Gold production in Q3 2024 totaled 24,345 ounces, up from 20,933 ounces in Q3 2023.
- Yaramoko Mine, Burkina Faso: Produced 28,006 ounces of gold in Q3 2024, compared to 34,036 ounces in Q3 2023.
- Séguéla Mine, Côte d'Ivoire: Gold production reached 34,998 ounces, higher than Q3 2023's output of 31,498 ounces.
- San Jose Mine, Mexico: Silver production was 510,741 ounces, down from 1.37 million ounces in Q3 2023, while gold production stood at 3,771 ounces.
- Caylloma Mine, Peru: Produced 305,446 ounces of silver and approximately 10 million pounds of lead in Q3 2024.
Fortuna's consolidated gold and silver production for the first nine months of 2024 totaled 273,645 ounces of gold and 2.9 million ounces of silver, or 339,933 gold equivalent ounces, including lead and zinc by-products.
