Articles for tag: 130M, Burkina, exits, Faso, Fortuna, mining

May 6, 2025

Ron Finklestien

mining

Fortuna Mining Divests from Burkina Faso in $130 Million Deal

Fortuna Mining Sells Burkina Faso Operations for $130 Million Processing plant at Yaramoko. Credit: Roxgold Fortuna Mining (NYSE: FSM, TSX: FVI) has agreed to sell its operations in Burkina Faso to Mauritius-based Soleil Resources International for approximately $130 million in cash. According to Fortuna’s CEO, Jorge Ganoza, this sale represents “a prudent exit that optimizes value” due to the escalating challenges in the Burkina Faso business environment. The Yaramoko mine, the company’s principal asset in the region, has about one year left on its reserves. Burkina Faso has faced a wave of military takeovers aimed at combating militant Islamists, with

February 2, 2024

Ron Finklestien

mining

Australian Potash Emerges from Administration with Restructured Balance Sheet

Revamped Financials Australian Potash, a significant player in the mining industry, recently announced that the company has successfully exited the administration phase following a substantial restructuring of its balance sheet. Managing director and chief executive, Matt Shackleton, expressed his optimism, stating, “The company’s balance sheet has been significantly restructured with all previous trade creditors and other payables agreeing to the settlement terms proposed in the deed of company arrangement presented on Jan. 19.” Operational Strategies In addition to the restructuring, Australian Potash has re-evaluated all previous results at the Lake Wells gold project, identifying walk-up drill targets for immediate action.