01:05 PM EDT, 10/07/2024 (MT Newswires) -- Fortuna Mining ( FSM ) was last seen down 9.3% even as as the company said it received confirmation from Burkina Faso there are no plans to withdraw permits from its Yaramoko goldmine in the African country following weekend comments from its president.

President Ibrahim Traore on Oct.5 said some permits for existing mines in the country could be withdrawn. However the company said Yaramoko, which accounts for around 25% of Fortuna's production, is not at threat.

"Fortuna has received confirmation that the government has no plans to withdraw existing mining permits which are in compliance with Burkina Faso's laws. The Yaramoko Mine is in compliance with all material laws and operations continue to be conducted normally," it noted.

The company's shares were last seen down $0.62 to $6.03 on the Toronto Stock Exchange.

Price: 6.03, Change: -0.62, Percent Change: -9.32