FORTUNA MINING CORP.
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 28, 2024
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Contents
EX-99.1 · 2022 Developments
2022 Developments
The Company reported full year production results for 2022 from its four operating mines: the San Jose Mine in Mexico, the Lindero Mine in Argentina, the Yaramoko Mine in Burkina Faso, and the Caylloma Mine in Peru. In 2022, the Company produced 259,427 ounces of gold (25% increase over 2021), 6,907,275 ounces of silver (8% decrease over 2021), 34,588,324 pounds of lead (5% increase over 2021) and 46,175,821 pounds of zinc (3% decrease over 2021). Production results for each mine in 2022 compared to 2021 are as follows:
Yaramoko Mine: in 2022, the Company produced 106,108 ounces of gold achieving the mid-point of the annual guidance range. The average gold head grade for the year was 6.37 g/t in line with the planned estimate for the year. Cash cost per ounce of gold sold 5 for 2022 was $840 compared to $739 from the date of acquisition on July 2, 2021 to December 31, 2021, primarily due to higher mining service costs related to inflation and variation in orebody sequence.
Lindero Mine: in 2022, the Company produced 118,418 ounces of gold, comprised of 116,191 ounces in doré and 2,227 ounces of gold-in-carbon (GIC), an increase of 14% over the 104,161 ounces produced in 2021. Cash
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