Fortuna Mining Corp. reported its financial and operating results for the fourth quarter and full year 2024, highlighting a record free cash flow of $95.6 million for Q4. The company's full-year 2024 adjusted attributable net income reached $144.0 million, or $0.47 per share, a substantial increase from $64.9 million, or $0.22 per share, in 2023. This was primarily driven by higher realized gold prices, which averaged $2,401 per ounce for the year.
For the full year 2024, consolidated cash cost per gold equivalent ounce was $987, and All-in Sustaining Costs (AISC) were $1,640 per gold equivalent ounce. The Séguéla Mine achieved the higher end of its annual guidance with 137,781 ounces of gold production. Fortuna also returned $30.6 million to shareholders via share buybacks in Q4, demonstrating its commitment to capital allocation.
In a significant development, Fortuna announced the termination of its acquisition agreement with Minas del Balsas S.A. de C.V. for the sale of the San Jose Mine on March 6, 2025. The company is now continuing with the sale process to divest the asset, which was placed on care and maintenance on December 24, 2024. This strategic shift aims to remove higher-cost ounces from its portfolio and refocus capital on high-value opportunities.
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