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Fortuna Silver/FSM (ex Roxg: 133k oz.> 000 oz)

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Fortuna vs Silver

Roxgold (ROGFF) shareholders receive 0.283 of a Fortuna share

"receive 0.283 of a Fortuna share". so $5.00 x0.283= $1.415 for ROGff x1.252 = C$1.77 ROXG (4.2/5.0= C$1.49)

FSM vs- AGQ, SLV... from Apr.2016: 5yrW: 2yr: 1yr: 6mo: 10d / Update: 8.12.21: $4.20 -0.24, yr.L:4.13

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Pre-merger:  ROXG / Roxgold ... All: 10yr: 5yr: 3yr : 2yr: 1yr: 10d / Last: C$ 1.23

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Q1 RESULTS, excerpt

Financial

  • Sold 30,126 ounces of gold for a total of $48.0 million in gold sales (32,798 ounces and $42.8 million respectively in Q1 20191)
  • Achieved an adjusted EBITDA2 and adjusted EBITDA margin2 of $19.8 million and 41% respectively in 2020 compared to $18.3 million and 46% in Q1 2019
  • Generated improved cash flow from mining operations2 totalling $25.4 million for cash flow from mining operations per share2 of $0.07 (C$0.09/share)
  • Adjusted net income2 of $4.2 million ($0.01 per share) compared to $4.0 million ($0.01 per share) in Q1 2019
  • Produced a mine operating margin2 of $938 per ounce and a return on equity2 of 11%

Growth          

  • Delivered a PEA for Séguéla Gold Project with after-tax NPV of $268 million and 66% IRR at a gold price of $1,450 per ounce and an NPV of $379 million and 88% IRR at a gold price of $1,730 per ounce
  • Reported an updated Mineral Resource Estimate for the Séguéla Gold Project in January 2020 with Total Indicated Mineral Resources increasing 7% to 529,000 ounces and Inferred Mineral Resources increasing 1,286% to 471,000 ounces
  • Announced multiple high grade results in Ancien deposit at Séguéla
  • New high grade discovery at Boussoura, Burkina Faso

 

“The start of 2020 has been an unprecedented time in the market and in our lives,” commented John Dorward, President and CEO of Roxgold. “While the world continues to adapt and manage the current pandemic, Roxgold has faced this adversity with characteristic attentiveness and rigour. Our regional teams have done an impressive job – employing foresight and initiative to introduce comprehensive protocols at all our sites and offices to manage and mitigate the impacts of COVID-19 on our employees and contractors. As a result, Yaramoko continues to operate well with a strong quarter to start the year as the mine reported tonnages and grades ahead of expectations. Based on the quarterly results, we have maintained our production and cost guidance, while acknowledging that should a prolonged COVID-19 related interruption occur there could be an impact on current guidance.”

Looking ahead, we recently announced the results of the PEA for our Séguéla Gold Project in Côte d’Ivoire, which returned exceptional prospective project economics. Séguéla has been a substantially value accretive acquisition for Roxgold, as the project has the potential to double our production within a short timeframe without undue dilution to our shareholders. Further, the PEA is just a snapshot in time of the potential value of Séguéla. It is our belief that, with continued drilling success, there is the potential to add significant production ounces and value to the project. We have identified several opportunities to expand and optimize the PEA, which we intend to evaluate as we proceed towards a Feasibility Study, which is well underway and with an anticipated completion in early 2021.”

2020 Operating Outlook

  • Gold production between 120,000 and 130,000 ounces
  • Cash operating cost2 between $520 and $580/ounce
  • All-in sustaining cost2 between $930 and $990/ounce
  • Non-sustaining capital spend of $5-$10 million
  • Growth spend (includes Exploration and Séguéla study spend) of $15-$20 million

Based upon Q1 production results, Roxgold is slightly ahead of expectations and remains on track to deliver between 120,000 and 130,000 ounces of production from Yaramoko...

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ROXGOLD REPORTS 77.2 GPT OVER 6.0 METRES IN NEAR-SURFACE DRILLING AT 55 ZONE, YARAMOKO MINE COMPLEX

Toronto, Ontario – September 30, 2020 - Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTCQX: ROGFF) is pleased to announce near-surface infill drilling results from the 55 Zone at the Yaramoko Mine Complex, drilled as part of a review of opportunities for near-surface mineralization to complement our high-grade underground operations.

Yaramoko Mine Complex, Burkina Faso:

Highlights from infill Reverse Circulation (“RC”) drilling

  • 6 metres (“m”) at 77.2 grams per tonne gold (“g/t Au”) in drill hole YRM-19-RC-55Z-003 from 38m including
    • 1.0m at 107 g/t Au from 39m and
    • 1.0m at 220 g/t Au from 42m
  • 6m at 49.5g/t Au in drill hole YRM-19-RC-55Z-005 from 41m
  • 11m at 10.1 g/t Au in drill hole YRM-19-RC-55Z-012 from 14m
  • 4m at 16.2 g/t Au in drill hole YRM-19-RC-55Z-017 from 40m
  • 5m at 7.2 g/t Au in drill hole YRM-19-RC-55Z-006 from 40m including
    • 1.0m at 30.2 g/t Au from 41m
  • 2m at 29.5 g/t Au in drill hole YRM-19-RC-55Z-019 from 41m including
    • 1m at 56.1 g/t Au from 41m
  • 6m at 23.8 g/t Au in drill hole YRM-19-RC-55Z-052 from 13m
  • 3m at 11.3 g/t Au in drill hole YRM-19-RC-55Z-004 from 35m
  • 7m at 6.6 g/t Au in drill hole YRM-19-RC-55Z-032 from 36m

“Earlier this year we initiated a review of near-surface mineralization opportunities across the Yaramoko property to complement our high-grade underground operations. This review identified the near-surface portions of 55 Zone that extend outside of the existing underground Mineral Resource as a priority target,” stated John Dorward, President and CEO. “Drilling results which included 6m at 77g/t Au from 38m in YRM-19-RC-55Z-003 highlight the substantial opportunity that remains in the near-surface environment to extend the mine life at Yaramoko.  These results will be incorporated into an interim Mineral Resource and Reserve update to be released in the fourth quarter of 2020.

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Fortuna and Roxgold announce business combination

Kitco News |

(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) and Roxgold (TSX: ROXG) (OTCQX: ROGFF) announced today that they have entered into a definitive agreement whereby Fortuna will acquire all the issued and outstanding securities of Roxgold pursuant to ...

ROXG / Roxgold Inc. (TSE)  ... update: C$2.21 + 0.29, +15.1%. 27.9 Million shares
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Roxg was a nice jump but I don’t think the market gets this deal?

I’m no position now anyway, ROXG has been good to me but always thought it would be taken out higher.

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Weak gold prices might be part of the problem

With gold stronger, ROXG is higher

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Roxgold triples net income in Q1 2021 on strong production and higher gold prices

Kitco News |

(Kitco News) - The company’s net income was $5.6 million in Q1 2021 compared to net income of $1.9 million in Q1 2020.

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Fortuna Silver Mines Completes US$712 Million Takeover of Roxgold

The company after shareholders of both companies voted this week to approve the transaction, which sees Roxgold (ROGFF) shareholders receive 0.283 of a Fortuna share and C$0.001 in cash for each share held.

"The successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project. The company will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest growing precious metals producing regions in the world." Fortuna chief executive Jorge Ganoza said in a release.

Fortuna shares were last seen down C$0.12 to C$6.79 on the Toronto Stock Exchange, while Roxgold (ROGFF), which will be delisted within three trading days, was up C$0.01 to C$1.90.

Price: 6.79, Change: -0.12, Percent Change: -1.74

https://i.imgur.com/aM4ohUV.png

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aM4ohUV.png

Peak after bid was :  C$2.35 / 0.283= C$8.30 / 1.25= US6.64

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Expected Merged Market Cap of approximately C$1.1 billion
CONSIDERATION
• Exchange ratio of 0.283 of a Fortuna share plus C$0.001 in cash per common share of Roxgold
• Implies a price of approximately C$2.73 per Roxgold share based on the closing price of Fortuna shares on the TSX on
April 23, 2021 ( 42.1% premium to the closing price of Roxgold’s shares on April 23, 2021)
Current Values: FSM: $5.31 x1.245= C$6.61 x 0.283 + C$0.001= C$

FSM / Fortuna Silver Mines ... update: 10d / Last: $5.31 +0.18

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July 2nd: Fortuna and Roxgold complete combination to create a global premier growth-oriented intermediate gold and silver producer

Jorge A. Ganoza, President and CEO of Fortuna, commented, “The successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project. The company will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest growing precious metals producing regions in the world.” Mr. Ganoza added, “We look forward to a successful integration and to continue building the business in West Africa on the solid foundations cemented by Roxgold.”

John Dorward, President and Chief Executive Officer of Roxgold, commented, “I would like to thank the Roxgold shareholders for their support. I am very proud of the Roxgold team and what we accomplished together and believe Fortuna is now positioned with one of the best organic growth pipelines among any of the intermediate precious metal producers, supported by peer-leading free cash flow generation, increased scale and diversification, and a lower cost of capital.”

===

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Roxgold (ROGFF) shareholders receive 0.283 of a Fortuna share

"receive 0.283 of a Fortuna share". so $5.00 x0.283= $1.415 for ROGff x1.252 = C$1.77 ROXG (4.2/5.0= C$1.49)

FSM vs- AGQ, SLV... from Apr.2016: 5yrW: 2yr: 1yr: 6mo: 10d / Update: 8.12.21: $4.20 -0.24, yr.L:4.13

985bTvK.gif

Ratio: xx

ULGSzJI.png

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Fortuna Silver reports record sales and consolidated EBITDA margins above 45% in second quarter

Kitco News |

(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) today reported Q2 2021 net income of $16.2 million, adjusted net income of $21.5 million, and adjusted EBITDA of $54.9 million, compared to a net loss of $5.7 million, adjusted net loss of $5.1 ...

Additionally, Fortuna noted that it had completed the business combination with Roxgold on July 2, 2021 creating a low-cost intermediate global precious metals producer with extensive brownfields and greenfields organic growth potential in the Americas and West Africa.

President and CEO Jorge A. Ganoza commented, "In spite of COVID-19 related challenges at Lindero, which have led us to revise guidance for the year, our second quarter results continue to reflect the strength of our business with record sales of $120.5 million and consolidated EBITDA margins above 45%."

"We look forward to the contribution of the Roxgold acquisition to our financial performance starting in Q3, with the forecasted addition of 62,000 to 66,000 gold ounces of production from the Yaramoko mine for the second half of 2021 at an AISC below $1,150 per ounce," added Ganoza.

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traded as low as... $3.81 / 9.85 H= 38.6% ... 61.8%= $6.09

FSM / Fortuna Silver Mines ... update: 10d / Last: $4.39 +0.26 /. Sep $4C

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Fortuna Silver reports 411% gold production jump in third quarter

truck44.png(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) today reported that its gold production in Q3 2021 increased 411% to 65,425 ounces compared to 12,791 ounces produced in Q3 2020.

The company's lead production of 8,245,289 pounds was 23% higher compared to Q3 2020, and zinc production of 12,436,276 pounds was 21% higher compared to Q3 2020.

However, Fortuna Silver reported that its Q3 2021 silver production of 1,711,881 ounces was 20% lower compared to Q3 2020 (2,127,746 ounces).

The company said that its Lindero mine in Argentina produced record 26,235 ounces of gold in Q3 2021, which was in line with guidance.

Fortuna added that quarterly performance at the company's San Jose mine in Mexico was "as expected", and that year-to-date production results aligned with guidance. The San Jose mine produced 1,436,658 ounces of silver and 8,910 ounces of gold in Q3 2021.

The company's Yaramoko mine in Burkina Faso produced 28,751 ounces of gold in Q3 2021 with an average gold head grade of 7.28 g/t, which was slightly below the plan for the quarter.

Importantly, the company said that its Caylloma mine in Peru "outperformed" in Q3 2021, with 12% increase in gold production, 23% increase in lead production and a 21% increase in zinc production compared with the third quarter of 2020.

> https://www.kitco.com/news/2021-10-12/Fortuna-Silver-reports-411-gold-production-jump-in-third-quarter.html

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CHART update:  Lows in place?

FSM : 5yr: 2yr; YTD: 10d / Last: $4.27 + 0.13

cc

FSM- etc ... update: $4.27 / GDXJ: xx = xx%

xx

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