[Fortuna Divests Burkina Faso Assets to Refocus on High-Value Growth Projects]
On May 13, Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) announced the successful sale of its entire interest in Roxgold Sanu SA and three other wholly owned subsidiaries in Burkina Faso to Soleil Resources International Ltd., a private company based in Mauritius. Roxgold Sanu is the owner and operator of the Yaramoko gold mine located in Balé Province, Burkina Faso.
President and CEO Jorge A. Ganoza commented that the divestiture aligns with Fortuna’s ongoing strategy to optimize its asset base amid a strong gold market. “Following the April sale of the high-cost San Jose Mine, the Yaramoko transaction marks another step in exiting operations with limited reserve lives. The offer for Yaramoko allowed us to exit a jurisdiction where we no longer pursue exploration and where operational and security challenges persist.”
Ganoza added that the transactions free up approximately $50 million in capital and management resources, enabling the company to redirect focus toward more strategic, high-return opportunities. As of the end of Q1, Fortuna’s cash and short-term investments exceeded $380 million, with total liquidity surpassing $530 million.