➡ Fortuna Mining recently bought back 1.7 million of its own shares, which will be cancelled. This is part of their ongoing plan to buy back shares, and they’ve already bought about 11% of the 15.3 million shares they’re allowed to buy back. The company is also making progress on their West African pipeline, with work starting on a new camp at D’Ambassoud and a study planned for 2026 to decide on construction. They’re also working on getting approval for environmental and social impacts, and applying for a new exploration permit before the current one expires in 2026.

Well, hello there my dear friends, Chris Marcus here with you from Arcadia Economics and today we have a quick video because we did just have some news out of Fortuna Mining on Thursday as they had an update about their share buyback program and here you can see they mentioned that they repurchased 1.7 million common shares on the open market between December 23rd of last year and Wednesday of this week January 7th and these shares were purchased at a weighted average price of $10.01 and all of the repurchase shares are going to be cancelled and of note you can see here they repurchased approximately 11 percent of the 15.3 million shares authorized under their normal course issuer bid program and you can see in a press release that they had back in April that was the previous update and there it’s interesting because they purchased 7.3 million shares at a weighted average price of $4.72 obviously the stock price quite a bit higher and here you can see what the one-year chart looks like with Fortuna just under $10 as of the close on Thursday so of course great to see a tightened share structure especially with the company purchasing a lot of those shares at a much cheaper price and a few other notes here they had an update on their West African pipeline they mentioned at the D’Ambassoud early works underway with engineering and procurement activities progressing and ground broken for the new accommodation camp at D’Ambassoud where they are advancing a feasibility study targeted for the second quarter of 2026 which will be a big part of the construction decision there and in advance of that they’re continuing their early works program to materially de-visc the execution schedule ahead of full development securing approval of environmental and social impact assessment and applying for and receiving the expiration permit before the expiry of the current expiration permit in June of 2026 and obviously we will keep you posted on how that comes along over the next couple months we’ll look forward to having Jorge back on the show that’s Jorge Ganoza the CEO of Fortuna Mining although in case you missed the last call we did with him where he talked a lot about D’Ambassoud and the progress with the company well that one’s coming your way now
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