Fortuna Announces Record Q3 2023 Gold and Gold Equivalent Production
Fortuna revealed record Q3 2023 gold and gold equivalent production from its five operating mines in West Africa and Latin America.
For the third quarter, the company reported gold and silver production figures of 94,821 ounces (a 43% rise from Q3 2022) and 1.7 million ounces (a decrease of 6% from Q3 2022), respectively. This culminates in a total of 128,671 gold equivalent ounces, marking a 26% increase from Q3 2022, and includes lead and zinc by-products.
Taking into account the entire nine-month period, Fortuna's gold and silver production reached 219,260 ounces and 4.5 million ounces, respectively. This translates to 316,235 gold equivalent ounces when lead and zinc by-products are included.
The notable surge in Q3 2023's record gold production was attributed to significant contributions from Séguéla, producing 31,498 ounces, and Yaramoko, delivering 34,036 ounces. Highlighting future prospects, the company has adjusted Yaramoko’s annual gold production guidance, now projecting an increase of roughly 14% from earlier estimates.
Other mines under Fortuna's banner, including Lindero, San Jose, and Caylloma, maintained a consistent performance throughout the quarter. This has fortified the company's outlook, with expectations to achieve an annual production ranging between 282 to 320 thousand ounces of gold, 6.3 to 6.9 million ounces of silver, and 412 to 463 thousand gold equivalent ounces, inclusive of lead and zinc by-products.
Fortuna is a Canadian precious metals mining firm that operates mines across several countries including Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru.
