Member Company Profile

Fortuna Silver Mines Inc.

FVI:CN|Last Price: USD 3.76|Market Cap: USD 599.59 M

USD 2.47        USD 5.66


Gold Price: $1,436.70|Silver Price: $16.34|Platinum Price: $857.00|Palladium Price: $1,531.00|Gold:Silver: 87.9


Status: Producer|Primary Mineral: Silver|Primary Country of Operation: Mexico


Last Updated: July 10, 2019

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IR Contact

Carlos Baca
+51 (1) 616-6060, ext. 0
[email protected]
www.fortunasilver.com

Address

200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Canada

Cautionary Information

© Copyright 2019, Denver Gold Group & Fortuna Silver Mines Inc..
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.

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 production* 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 production* is expected to increase in 2020 to 7.5 - 8.3 Moz Ag + 189 - 209 koz Au or 293 - 324 koz Au Eq gold equivalent** 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:
(*) Based on annual production plans based on Mineral Reserves and Mineral Resources as of December 31, 2018
(**) Gold equivalent is calculated using gold to silver ratio of 1 to 72 and does not include lead nor zinc by-products

Value Drivers
  • 8.2 - 9.0 Moz Ag + 49 - 54 koz Au in 2019E
  • Proven mine builders and strong operators in Latin America
  • Exploration potential for new discoveries in commanding land positions in Peru, Mexico and Argentina.

Annual Production
Silver, oz per year
SEOs: Yes

Annual Proven & Probable Reserves
Silver, Moz per year
Mineral Authority: NI 43-101 , SEOs: Yes

All data is attributable unless otherwise stated in footnotes. Mineral resources are exclusive of reserves unless otherwise stated in footnotes.

Top Shareholders
  • Van Eck Associates Corp.
  • Renaissance Technologies LLC
  • Dimensional Fund Advisors LP
Management
Chairman: Simon Ridgway
President & CEO: Jorge A. Ganoza
CFO: Luis D. Ganoza
VP, Operations: Manuel Ruiz-Conejo
VP, Project Development: Jose Pacora
VP, Exploration: David Volkert
VP, Technical Services: Eric Chapman
VP, Finance and Accounting: Gordon Jang
More Detail
Capital Structure
Common Shares Outstanding: 160,173,348
Float (%): 100.00
Options Outstanding: 1,784,029
Fully Diluted Shares: 161,957,377

IR Contact

Carlos Baca
+51 (1) 616-6060, ext. 0
[email protected]
www.fortunasilver.com

Address

200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Canada

Cautionary Information

© Copyright 2019, Denver Gold Group & Fortuna Silver Mines Inc..
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.