07:05 AM EST, 01/21/2025 (MT Newswires) -- Fortuna Mining ( FSM ) on Tuesday reported record full-year 2024 production of 455,958 gold equivalent ounces, in line with the low end of company guidance and up from 452,389 gold equivalent ounces in 2023.

Fourth-quarter 2024 production fell to 116,358 gold equivalent ounces from 136,154 gold equivalent ounces.

Full-year 2024 gold production came in at 369,637 ounces, achieving midpoint of guidance and up from 326,638 in 2023. For the fourth quarter of 2024, gold production was 95,993 ounces, down from 107,376 ounces.

Silver production in 2024 came in at 3.7 million ounces, which was below guidance and lower than the year-ago period's 5.9 million ounces. For the fourth quarter of 2024, silver production was 843,611 ounces, down from 1.4 million ounces.

By-product lead and zinc production for the year was 39.6 million pounds and 51.9 million pounds, respectively.

The company expects to produce between 380,000 and 422,000 gold equivalent ounces in 2025, a projected decrease of between 17% and 7%, respectively, compared to 2024 production.

Gold production guidance for 2025 is also expected to decrease to 334,000 to 373,000 ounces. Silver production is forecast to fall to 0.9 million to 1 million ounces.

Fortuna at last look gained 1.9% to US$4.33 in U.S. pre-market trading on Tuesday.