Fortuna Mining Corp. announced the successful completion of the sale of its interest in Roxgold Sanu SA, which owns and operates the Yaramoko Mine in Burkina Faso, along with three other subsidiaries, to Soleil Resources International Ltd. This divestiture marks Fortuna's complete exit from operations in Burkina Faso.
The company received $70 million in cash at closing, in addition to a $53.8 million cash dividend plus $3.7 million in withholding tax from Roxgold Sanu prior to closing. Fortuna also retains the right to receive up to approximately $53 million in value-added tax receivables. These proceeds significantly increased Fortuna's first-quarter cash and short-term investments to over $380 million and liquidity to over $530 million.
The divestment of both the San Jose and Yaramoko mines allows Fortuna to reallocate approximately $50 million in capital and management focus away from mine closures towards higher-value opportunities. Following this divestiture, Fortuna has updated its 2025 consolidated production guidance to a range of 309,000 to 339,000 gold equivalent ounces and its All-in Sustaining Cost (AISC) guidance to $1,600 to $1,750 per gold equivalent ounce.
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