- TSX: FVI CA 3.86
- NYSE: FSM US 2.93
Fortuna is a rapidly growing precious metals producer, operating two low-cost mines in Peru and Mexico and holding commanding land positions in Peru, Mexico and Argentina. Established in 2005, the company is focused on acquiring precious metals exploration projects and producing mines in Latin America. Management has established a reputation as efficient mine builders and operators by driving operational excellence and organic growth since the company's formation.
Fortuna´s consolidated annual production1 guidance for ongoing operations in 2019 is 8.2 - 9.0 million ounces of silver, 49 - 54 thousand ounces of gold, 26.1 - 28.8 million pounds of lead, and 39.8 - 44.0 million pounds of zinc at an estimated consolidated all-in sustaining cash cost of $9.9 - $12.1 per silver equivalent ounce. Production and cost estimates are based on Mineral Reserves and Mineral Resources as December 31, 2018.
In July 2016, Fortuna acquired the open pit, heap leach development stage Lindero gold Project in Salta, Argentina. Lindero has a 13 year reserve life, an approved environmental impact study and has been granted all major permits for the construction of an 18,750 tpd gold mine. A positive construction decision was made in September of 2017 and commercial production is expected in the first quarter of 2020. With Lindero in its first year of full production, Fortuna's consolidated precious metals annual production1 is expected to increase in 2020 to 7.5 - 8.3 Moz Ag + 189 - 209 koz Au or 293 - 324 koz Au Eq gold equivalent2 ounces.
Management is committed to operating safely and profitability and to maintaining industry best practices in employee relations, community outreach and environmental safeguards.
Fortuna is financially stable and does not hedge its silver or gold production. Shares of the company trade mainly on the New York Stock Exchange (NYSE: FSM) and Toronto Stock Exchange (TSX: FVI).
Notes:
1. Based on annual production plans based on Mineral Reserves and Mineral Resources as of December 31, 2018
2. Gold equivalent is calculated using gold to silver ratio of 1 to 72 and does not include lead nor zinc by-products
Positive construction decision made for the Lindero gold Project; commissioning expected in Q2 2019
Acquired the fully permitted, development stage Lindero gold Project in Salta, Argentina
San Jose Mine expanded from 2,000 tpd to 3,000 tpd
Caylloma Mine mill throughput increased to 1,430 tpd
San Jose Mine expansion to 3,000 tpd initiated in Q1
Caylloma Mine processing plant optimization initiated in Q1
Shares voluntarily delisted from BVL
San Jose Mine expanded to 2,000 tpd
Trinidad North high-grade silver-gold discovery at San Jose Mine, Mexico
Commissioned San Jose Mine expansion from 1,150 to 1,800 tpd
Acquired Taviche Oeste concession with hosts Trinidad North discovery
Commenced construction of San Jose Mine mill expansion to 1,800 tpd
Shares begin trading on NYSE: FSM
San Jose Mine declared commercial production at 1,000 tpd
Shares begin trading on TSX: FVI
Positive pre-feasibility study reported for the San Jose Mine
Started construction of the San Jose Mine
Acquired 100% interest in San Jose project
Received Environmental Impact Study approval and construction permits to build the San Jose Mine
Shares begin trading on BVL: FVI
Successful drilling at the San Jose Project significantly increased Ag Eq resources
Re-initiated production at Caylloma Mine
Acquired 76% stake in the San Jose silver-gold Project located in Oaxaca, Mexico
Fortuna Silver Mines Inc. established
Shares trade on TSX.V: FVI
Acquired the Caylloma silver-lead-zinc Mine located in Arequipa, Peru