Fortuna Silver Mines pays down additional $41M of debt

Fortuna Silver Mines reported that the company has paid down an additional $41M of its revolving credit facility at the end of the fourth quarter of 2023, using cash on hand. After the payment of $41M, the company expects to bring down the leverage ratio below 0.5 times total net debt to adjusted EBITDA. At December 31, 2023, it is expected that Fortuna’s total outstanding debt balance will stand at approximately $165M on its credit facility, and approximately $46M of convertible notes, for an estimated total net debt, after cash and cash equivalents, of $83M as at December 31, 2023. This represents a reduction of approximately $50M in total net debt in the period, reflecting cash flow contributions from the Seguela Mine in its second full quarter of production.