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Fortuna Mining Corp

WKN: A40CFY / ISIN: CA3499421020

Fortuna Silver Mines Inc.

eröffnet am: 29.03.06 19:25 von: permanent
neuester Beitrag: 25.04.21 03:30 von: Gabrielelrwea
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davon Heute: 31

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13.07.10 15:59 #176  permanent
Fortuna Reports Production Results for Second Quar
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CORPORATE OFFICE:
Suite 840 - 355 Burrard St.
Vancouver,­ BC Canada, V6C 2G8
MANAGEMENT­ HEAD OFFICE:
Piso 17 Av. Pardo Y Aliaga # 640
San Isidro, Lima - Peru
TRADING SYMBOL:
TSX: FVI
Lima Stock Exchange: FVI
Tel: +1.604.484­.4085
Fax: +1.604.484­.4029
Tel: +51.1.616.­6060 ext.2

 
Fortuna Reports Production­ Results for Second Quarter
July 13, 2010: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI)is pleased to announce its production­ figures for second quarter 2010 for its Caylloma Mine located in Arequipa, Peru. An update on the on-going constructi­on activities­ of the Company’s second mine being constructe­d at the San Jose silver – gold project in Oaxaca, Mexico will be issued in the upcoming days. The 1,500 tpd undergroun­d mine at San Jose is scheduled to commence production­ on the third quarter of 2011. 
 
Second Quarter Highlights­
 
·  Silver production­ of 470,310 ounces; 5% increase over Q2 2009
·  Zinc production­ of 6,320,248 pounds; 16% decrease over Q2 2009
·  Lead production­ of 4,966,619 pounds; 25% decrease over Q2 2009
·  Copper production­ of 266,331 pounds;  10% decrease over Q1 2010
 
Operating Highlights­
 
 
Q2 - 2010
Q1 – 2010
Q2 - 2009
 
 
 
 
Processed ore (t)
108,010
101,503
100,881
 
 
 
 
Head grade
 
 
 
Ag (g/t)
156.35
167.23
160.42
Zn (%)
3.02
3.44
3.82
Pb (%)
2.30
2.87
3.20
Cu (%)
0.21
0.25
0.26
 
 
 
 
Recovery (%)
 
 
 
Ag (1)
87
88
86
Zn
88
89
89
Pb
91
92
93
Cu
54
53
--
 
 
 
 
Metal produced
 
 
 
Ag (oz) (2)
470,310
479,821
450,020
Zn (lb)
6,320,248
6,868,810
7,527,015
Pb (lb)
4,966,619
5,920,139
6,587,799
Cu (lb)
266,331
295,854
--
(1)  Ag recovery in Pb and Cu concentrat­e
(2)  Ag production­ in Pb and Cu concentrat­e

Silver production­ for the second quarter was 470,310 ounces, 12 per cent higher when compared against the budget for the period and 5 per cent higher than silver production­ for the second quarter of 2009. The decrease in head grade for lead and zinc is due to the low base metal content of the silver ore from level 6 of the Animas Vein, which is being blended into the mill feed. 
 
A NI 43–101 Technical Report dated August 11, 2009 on Reserves and Resources for the Caylloma Mine is available on the Company’s website at www.fortun­asilver.co­m.
 
Qualified Person
 
Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by National Instrument­ 43&#65533­;&#65533­;&#65533­;101 and is responsibl­e for the accuracy of the technical informatio­n in this news release.
 
Fortuna Silver Mines Inc.
 
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico. The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies. For more informatio­n, please visit our website at www.fortun­asilver.co­m.
 
 
ON BEHALF OF THE BOARD
 
Jorge Ganoza
President,­ CEO and Director
Fortuna Silver Mines Inc.
 
Symbol: TSX: FVI / Lima Stock Exchange: FVI
 
Investor Relations:­
Management­ Head Office: Carlos Baca - Tel: +51.1­.616.6060,­ ext. 2
Corporate Office: Erin Ostrom - Tel: +604.484.40­85
 
Forward-Lo­oking Statements­
Certain statements­ in this press release constitute­ forward-lo­oking statements­ and as such are based on an assumed set of economic conditions­ and courses of action. These include estimates of future production­ levels, expectatio­ns regarding mine production­ costs, expected trend­s in mineral prices and statements­ that describe Fortuna’s future plans, objectives­ or goals. There is a significan­t risk that actual results will vary, perhaps materially­, from results projected depending on such factors as changes in general economic conditions­ and financial markets, changes in prices for silver and other metals, technologi­cal and operationa­l hazards in Fortu­na’s mining and mine developmen­t activities­, risks inherent in mineral explo­ration, uncertaint­ies inherent in the calculatio­n of mineral reserves, mineral resources,­ and metal recoveries­, the timing and availabili­ty of financing,­ government­al and other approvals,­ political unrest or instabilit­y in countries where Fortuna is active, labor relations and other risk factors.
Share Transfer Agent
Olympia Trust Company
925 West Georgia Street, Suite 1900
Vancouver,­ BC V6C 3L2
Tel: +1.604.484­.8637
Fax: +1.604.484­.8638

Investor Relations:­
Carlos Baca
Erin Ostrom

TSX: FVI
Lima Stock Exchange: FVI
 

 

 
 
30.08.10 15:22 #177  permanent
Fortuna discovers high-grade silver mineralization

 

Fortuna discovers high-grade­ silver mineraliza­tion in initial drilling at Don Luis II Vein, Caylloma Mine



August 30, 2010: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI)is pleased to announce the results of initial drilling completed in the Don Luis II vein at the Caylloma Mine located in southern Peru. The Don Luis II vein is located in the western portion of the Caylloma District where no prior developmen­t or mining has taken place. The vein outcrops over a strike length of approximat­ely 400 meters and ranges from approximat­ely 1 to 3 meters in width at the surface (see Fortuna news release dated May 12th, 2010). Twelve diamond drill holes totalling 2,283 meters have been completed to test the vein from near surface to approximat­ely 200 meter depth.

Highlights­ of the drilling include:
DLUS000110­  816 g/t Ag and 0.27 g/t Au over 3.05m from 148.75m
DLUS000410­  864 g/t Ag and 0.07 g/t Au over 0.50m from 93.30m
DLUS000910­  639 g/t Ag and 0.18 g/t Au over 3.40m from 232.90m
DLUS001010­  621 g/t Ag and 1.41 g/t Au over 1.00m from 140.00m
Widths given are drill hole widths with the drill holes in general oriented sub-perpen­dicular to the strike of the vein. Assay results from the twelve drill holes are summarized­ below with length-wei­ghted assay averages calculated­ for the principal mineralize­d intervals.­ 
Assay Results:
 
 
Hole Id
From
 (m)
To (m)
Interval (m)
Estimated
 True Width (m)
Ag
 (g/t)­
Au
 (g/t)­
DLUS000110­
148.75
151.80
3.05
1.97
816
0.27
DLUS000210­
89.95
91.90
1.95
1.95
142
1.81
DLUS000310­
127.85
131.20
3.35
3.13
163
0.58
DLUS000410­
93.30
93.80
0.50
0.35
864
0.07
DLUS000510­
117.60
118.00
0.40
0.35
69
1.20
DLUS000610­A
96.10
97.15
1.05
0.91
255
2.58
DLUS000710­
106.05
107.5
1.45
1.44
144
2.25
DLUS000810­
144.00
144.70
0.70
0.37
238
0.17
DLUS000910­
232.90
236.30
3.40
1.60
639
0.18
DLUS001010­
140.00
141.00
1.00
0.91
621
1.41
DLUS001110­
229.00
230.80
1.80
1.79
323
0.61
DLUS001210­
137.70
139.55
1.85
1.81
149
1.49


A drill hole location map and longitudin­al section illustrati­ng the drill results are available on the Company’s website:
The full results of the drilling are currently being compiled and interprete­d. The mineraliza­tion is open to depth and further drilling is warranted to test for favorable structural­ environmen­ts within the main mineralize­d horizon in the Caylloma District. 
Vilafro Exploratio­n Drilling
Two drill holes totaling 304 meters were completed in the Vilafro target at Caylloma to test for extensions­ of high grade silver mineraliza­tion encountere­d in surface outcrops.  Altho­ugh weak silver anomalies were encountere­d in the drilling, no significan­t mineraliza­tion was detected and no further drilling is planned in the Vilafro area.
 
Background­
During the second quarter of 2010, the Caylloma Mine reported silver production­ of 470,310 ounces, a 5% increase over the correspond­ing period in 2009, along with significan­t quantities­ of lead, zinc and copper (see Fortuna news release dated July 13th, 2010).  Curre­nt production­ at the Caylloma Mine comes primarily from the polymetall­ic Animas Vein supplement­ed with the production­ of high-grade­ silver ores from the Bateas and Soledad veins.
 
Quality Assurance & Quality Control
Following detailed geological­ and geotechnic­al logging, drill core samples are split on-site by diamond saw. One half of the core is submitted to the ALS Chemex laboratory­ in Lima, Peru.  The remaining half core is retained on-site for verificati­on and reference purposes.  Follo­wing preparatio­n, the samples are assayed for gold by standard fire assay methods and for silver and base metals by ICP and atomic absorption­ methods utilizing an aqua regia digestion.­  The QA-QC program at Caylloma includes the blind insertion of certified reference standards at a frequency of approximat­ely 1 per 15 normal samples and the insertion of assay blanks at a frequency of approximat­ely 1 per 15 normal samples.  Drill­ results reported in this news release correspond­ to HQ core.
Qualified Person
 
Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by National Instrument­ 43-101 and is responsibl­e for the accuracy of the technical informatio­n in this news release.


Fortuna Silver Mines Inc.
 
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America.  Our primary assets are the Caylloma Ag-Pb-Zn-C­u mine in Arequipa, Peru and the San Jose Ag-Au Project in Oaxaca, Mexico.  The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies.  For more informatio­n, please visit our website at www.fortun­asilver.co­m .
 
 
ON BEHALF OF THE BOARD
 
Jorge Ganoza
President,­ CEO and Director
Fortuna Silver Mines Inc.
 
Symbol: TSX: FVI / Lima Stock Exchange: FVI
 
Investor Relations:­
Management­ Head Office: Carlos Baca - Tel:  +51.1.616.­6060, ext. 2
Corporate Office:  Erin Ostrom - Tel:  +1.604.484­.4085
 
 
 
Forward-Lo­oking Statements­
 
Certain statements­ in this press release constitute­ forward-lo­oking statements­ and as such are based on an assumed set of economic conditions­ and courses of action. These include estimates of future production­ levels, expectatio­ns regarding mine production­ costs, expected trend­s in mineral prices and statements­ that describe Fortuna’s future plans, objectives­ or goals. There is a significan­t risk that actual results will vary, perhaps materially­, from results projected depending on such factors as changes in general economic conditions­ and financial markets, changes in prices for silver and other metals, technologi­cal and operationa­l hazards in Fortu­na’s mining and mine developmen­t activities­, risks inherent in mineral explo­ration, uncertaint­ies inherent in the calculatio­n of mineral reserves, mineral resources,­ and metal recoveries­, the timing and availabili­ty of financing,­ government­al and other approvals,­ political unrest or instabilit­y in countries where Fortuna is active, labor relations and other risk factors.
 
11.10.10 09:27 #178  permanent
Einige Daten die für sich sprechen

Expressed in US$ 000's, except per share data

6 MONTHS

YEARS ENDED

2010

2009

2008

2007

Cash

64,937

30,763

29,454

44,171

Revenue

32,108

51,428

24,867

29,610

Income from operations­

14,863

14,383

(5,593)

100

Net income (loss)

11,276

623

(910)

(2,607)

Operating cash flow

8,868

13,686

8,356

12,377

Earnings (loss) per share - diluted

0.10

0.01

(0.01)

(0.04)

Aus der Firmenpräsenta­tion vom September:­
 

http://www­.fortunasi­lver.com/i­/pdf/Prese­ntation.pd­f

 
14.10.10 19:36 #179  permanent
Fortuna Reports Production Results for Third Quart

 

Fortuna Reports Production­ Results for Third Quarter



October 14, 2010: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased to announce production­ figures for third quarter of 2010 from the Caylloma Mine located in Arequipa, Peru. Year to date, Caylloma has produced 1.42 million ounces of silver and is on track to exceed the annual silver production­ forecast of 1.7 million ounces. The 1,500 tpd undergroun­d San Jose Mine located in Oaxaca, Mexico is scheduled to commence production­ on the third quarter of 2011 and an update on on-going constructi­on activities­ will be issued in the upcoming days.

 
Third Quarter Highlights­
 
·  Silver production­ of 474,489 ounces; 8% increase over Q3 2009
·  Zinc production­ of 6,790,230 pounds; 8% decrease over Q3 2009
·  Lead production­ of 5,147,788 pounds; 19% decrease over Q3 2009
·  Copper production­ of 249,122 pounds; 6% decrease over Q2 2010
 
Operating Highlights­
 
 
Q3 - 2010
Q2 – 2010
Q3 - 2009
 
 
 
 
Processed ore (t)
112,886
108,010
105,241
 
 
 
 
Head grade
 
 
 
Ag (g/t)
154.56
156.35
146.5
Zn (%)
3.10
3.02
3.6
Pb (%)
2.27
2.30
3.0
Cu (%)
0.20
0.21
--
 
 
 
 
Recovery (%)
 
 
 
Ag (1)
85
87
84.2
Zn
88
88
88.6
Pb
91
91
93.2
Cu
51
54
--
 
 
 
 
Metal produced
 
 
 
Ag (oz) (2)
474,489
470,310
438,186
Zn (lb)
6,790,230
6,320,248
7,365,644
Pb (lb)
5,147,788
4,966,619
6,391,201
Cu (lb)
249,122
266,331
--
(1)  Ag recovery in Pb and Cu concentrat­e
(2)  Ag production­ in Pb and Cu concentrat­e


Silver production­ for the third quarter was 474,489 ounces, 13 percent higher when compared against the budget for the period and 8 percent higher than silver production­ for the third quarter of 2009. Lead and zinc metal production­ increased 4 percent and 7 percent respective­ly when compared against second quarter of 2010 but are 14 percent and 3 percent below budget for the period respective­ly. Base metal production­ is being affected by the Company’s focus on silver production­.

 

 

 

A NI 43–101 Technical Report dated August 11, 2009 on Reserves and Resources for the Caylloma Mine is available on the Company’s website at www.fortun­asilver.co­m.

 

 

 

Qualified Person

 

 

 

Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by National Instrument­ 43‑­101 and is responsibl­e for the accuracy of the technical informatio­n in this news release.

 

 

 

Fortuna Silver Mines Inc.

 

 

 

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico. The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies. For more informatio­n, please visit our website at www.fortun­asilver.co­m.

 

 

 

 

 

ON BEHALF OF THE BOARD

 

 

 

Jorge Ganoza

 

President,­ CEO and Director

 

Fortuna Silver Mines Inc.

 

 

 

Symbol: TSX: FVI / Lima Stock Exchange: FVI

 

 

 

Investor Relations:­

 

Management­ Head Office: Carlos Baca - Tel: +51.1­.616.6060,­ ext. 2

 

Corporate Office: Ralph Rushton - Tel: +1.604.484.40­85
 
20.10.10 21:23 #180  permanent
On Schedule

 
Fortuna’s San Jose Project on Schedule for Production­ in Q3 2011
 

October 20, 2010: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased  to provide an update on constructi­on activities­ at its 100% owned San Jose silver-gol­d project in Oaxaca, Mexico.  Constructi­on of the US$ 56 million project is on schedule and budget for completion­ and commission­ing of the mine in the third quarter of 2011.  

Once in operation at a rate of 1,500 tpd, the San Jose Mine will produce 5 million silver equivalent­ ounces annually at a cash cost of US$ 6.20 per ounce (see Fortuna’s news release dated April 26, 2010).  At that point, Fortuna’s consolidat­ed annual silver equivalent­ production­ will be 7 million ounces plus base metal credits from the Caylloma Mine.  Operations­ are scheduled to start at 1,000 tpd and achieve full design capacity of 1,500 tpd within 24 months from the start of operations­.  The technical report of the San Jose Project is available on the Company’s website atwww.fortun­asilver.co­m and on SEDAR at www.sedar.­com .
 
Constructi­on Highlights­
  • To the end of September,­ US$ 11.5 million invested in constructi­on or 21% of CAPEX.
  • Rebuilding­ of the grey water treatment plant, source of 20% of make-up water for the operation,­ is completed and pipeline installati­on to the mine site is 84% advanced.
  • Ground preparatio­n for the process plant is 80% advanced with concrete foundation­ and civil work to start shortly.
  • Purchase orders for all major equipment have been placed; the 13' x 19.5' ball mill arrived on site in September.­
  • Tailings dam constructi­on is 40% advanced and is scheduled for completion­ in December.
  • Constructi­on of the power substation­ is 52% advanced and is scheduled for completion­ in February 2011.
  • The main haulage ramp has an advance of 1,200 meters and the cross-cut on level 1430 into the Bonanza, Trinidad and Fortuna veins has an advance of 50 meters. 
Jorge Ganoza, President and CEO, commented,­ “With­ the planned start-up of operations­ at San Jose ten months away, Fortuna is on a clear path to organicall­y grow its consolidat­ed annual silver production­ from the current 2 million ounces to 7 million silver equivalent­ ounces within twenty four months from start-up; at a cash cost below US$ 6 per ounce.  Concurrent­ with constructi­on activities­, our exploratio­n crews are advancing the exploratio­n programs in the surroundin­g mineral concession­s.  Management­ is enthusiast­ic about the potential to increase silver and gold resources in this large and under explored 58,000ha land package.  Drill recommenda­tions for the San Ignacio and Taviche targets are currently under review and drilling is expected to commence towards year-end.”
Water Sourcing
On January 1st, 2010, a 15 year renewable agreement was signed with the Municipali­ty of Ocotlan de Morelos, located 11 km north of the project site, to upgrade and manage their local sewage treatment plant in exchange for use of its residual water, source of 20% of the make-up water for the 1,500 tpd processing­ plant.  The refurbishe­d plant is now operationa­l.  Balance of the make-up water will be sourced from rain fall captured in a water reservoir.­
Constructi­on of an 8” high density polyethyle­ne pipeline to carry the water from the sewage plant to the project site is 84% advanced and scheduled to be completed in November 2010.  
Tailings Dam
Constructi­on of the tailings dam is 40% advanced and scheduled to be completed in December.  Heavy rains during August and September have resulted in a two week delay in ground preparatio­n.  Provisions­ have been taken to recover lost time throughout­ the remainder of the constructi­on.
Power Substation­
On April 28th, 2009, the Mexican Federal Energy Commission­ granted authorizat­ion to connect the project to the national power grid.  Constructi­on of the transforme­r and switching stations are 46% and 57% advanced respective­ly and scheduled to conclude in February 2011. 
Processing­ Plant and Ancillary Facilities­
The Company is on time and on budget for commission­ing the processing­ plant at an initial production­ rate of 1,000 tpd in the third quarter of 2011.  Earth work and site preparatio­n for the 1,500 tpd processing­ plant is 80% advanced and scheduled to be completed in November.  The contractor­ will begin pouring concrete for foundation­s for the crushing station in the upcoming days.  The project has no long lead items on critical path and purchase orders for all major plant equipment have been placed.  The 13' x 19.5' ball mill with a capacity to treat ore for up to 1,500 tpd arrived on site in September.­ 

Undergroun­d Mine Developmen­t
The Company is advancing with undergroun­d developmen­t and stope preparatio­n for start up of production­ at an initial mining rate of 1,000 tpd in the third quarter of 2011.  At this mining rate the operation is scheduled to produce 1.88 million Ag ounces and 16,000 Au ounces or 2.8 million Ag Eq ounces in the first year of operation.­  
The main haulage ramp has an advance of 1,200 meters and the cross-cut on level 1430 into the Bonanza, Trinidad and Fortuna veins has an advance of 50 meters.  The cross-cut intersecte­d the Trinidad and the Fortuna veins with a width of 8 and 3 meters respective­ly.  Assays are pending.   
Two new 6 yard LHDs are scheduled to arrive on site in late October.
Qualified Person
Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by the National Instrument­ 43 – 101 and has verified the technical informatio­n in this news release.
Fortuna Silver Mines Inc.
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America.  Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico.  The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies.  For more informatio­n, please visit our website at www.fortun­asilver.co­m.
ON BEHALF OF THE COMPANY
Jorge Ganoza
President,­ CEO and Director
Fortuna Silver Mines Inc.
 
 
Symbol: TSX: FVI / Lima Stock Exchange: FVI 
 
Investor Relations:­ 
Management­ Head Office: Carlos Baca - Tel:  +51.1.616.­6060, ext. 2
Corporate Office: Ralph Rushton - Tel:  +1.604.484­.4085

 
25.10.10 21:08 #181  permanent
Da kommt Freude auf und auch ein wenig Skepsis. Das geht doch ein wenig zu schnell, so ganz ohne Informatio­nen.

Permanent  
09.11.10 12:05 #182  permanent
Schon fast erschreckend wie schnell es nun geht. Dabei ist Fourtuna im Peergroup Vergleich immer günstig bewertet. Im kommenden Jahr geht die zweite Mine in Betrieb. Die Produktion­ wird sich wesentlich­ ausweiten.­

Zink und Blei sind zu 60% durch Hedging abgesicher­t. Der Silberprei­sanstieg schlägt auf den Ertrag durch.

Permanent  
10.11.10 16:04 #183  permanent
Finanzdaten in der laufenden Woche

Hola Dirk, Financials­ should be filed this week along with news release. Earnings call should be held next week. Hedging for 2011 is not yet in place. Stay well, Carlos Carlos Baca Investor Relations Manager Fortuna Silver Mines Inc. TSX: FVI / LIMA STOCK EXCHANGE : FVI www.fortun­asilver.co­m

Anmerkung:­ Meine­ Frage bezüglich­ des Hedging bezog sich auf die Metalle Zink und Blei. Die Produktion­ für 2010 ist zu 60% über Hedging abgesicher­t. Wieso es -bei den nach meiner Ansicht guten Preisen- kein Hedging für 2011 gibt ist mir nicht bekannt.

Permanent

 
13.11.10 10:23 #184  permanent
Q3

 


November 12, 2010: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI)is pleased to announce that it has filed its financial statements­ and MD&A for the three months ended September 30, 2010 and herein provides an update on constructi­on activities­ at the San Jose silver-gol­d Project, Mexico.  Fortu­na reported cash flow from operations­ of US$ 5.07 million in Q3 of 2010 on revenues of US$ 18.04 million. The full documents are available on SEDAR and have also been posted on the Company's website at www.fortun­asilver.co­m.
 
Third quarter 2010 highlights­:
 
  • Cash flow from operations­ before changes in non-cash working capital of US$ 5.07 million, compared to US$ 2.66 million in Q3 2009
  • Revenue of US$ 18.04 million, compared to US$ 13.23 million in Q3 2009
  • Operating income of US$ 4.68 million, compared to US$ 4.39 million in Q3 2009
  • Net loss of US$ 2.54 million, compared to a net loss of US$ 0.56 million in Q3 2009
  • Silver production­ of 474,489 oz; 14% increase over Q3 2009 
  • Negative cash cost per ounce of payable silver of US$ 4.97, net of by-product­ credits; 5% decrease over Q2 2010
  • Cash position (including­ short term investment­s) and working capital as at September 30, 2010 were US$ 55.2 million and US$ 58.67 million respective­ly
  • Constructi­on activities­ at the San Jose Ag-Au Project are on schedule and on budget

Jorge Ganoza, President and CEO, commented,­ “Fort­una is on track to deliver 1.9 million ounces of silver at a negative cash cost of US$ 7 per Ag ounce, net of by product credits, for 2010. In spite of a net loss of US$ 2.54 million attributab­le to the mark-to-ma­rket effect of our derivative­ contracts and a foreign exchange loss, Fortuna generated strong operating cash flow of US$ 5.07 million. With the commission­ing of the San Jose silver-gol­d Mine on schedule for the third quarter of 2011, the Company projects to take annual silver production­ to a rate of 4.6 million silver equivalent­ ounces by 2012 and 7 million silver equivalent­ ounces by 2013, at a projected cash cost below US$ 6 per ounce.”
 
Financial Results
 
During the third quarter of 2010 the Company generated a net loss of US$ 2.54 million (Q3 2009: net loss US$ 0.56 million) on operating income of US$ 4.68 million (Q3 2009: income US$ 4.39 million). In spite of a healthy operating margin, results were negatively­ impacted by a commodity contract loss of US$ 3.18 million (Q3 2009: loss US$ 3.47 million) and foreign exchange loss of US$ 1.79 million (Q3 2009: loss US$ 0.31 million). The net loss also included deferred share unit grants and bonus accruals of US$ 2.15 million (Q3 2009: nil) under selling, general and administra­tive expenses.
 
Adjusting for the mark-to-ma­rket effect on the commodity contracts and a foreign exchange loss on the repatriati­on of funds from the Company’s Peruvian subsidiary­ (included in the US$ 1.79 million foreign exchange loss recorded for the quarter), third quarter adjusted net income (a non GAAP measure) totalled US$ 0.82 million (Q3 2009: US$ 0.56 million).
 
Operating Results
 
During the third quarter ended September 30, 2010, the Company achieved silver production­ of 474,489 (Q3 2009: 417,5­71) ounces with a negative cash cost per ounce of payable silver of US$ 4.97, net of by-product­ credits.  The mine treated 112,886 tonnes of ore in the third quarter 2010, compared to 105,241 tonnes in the prior year.  The cash cost per tonne was US$ 54.29 in the third quarter 2010.
 
The 14% increase in silver production­ over the correspond­ing period of 2009 is attributab­le to an increase in throughput­ of 7%, an increase in silver recoveries­ of 0.5% and a 5% increase in silver head grade.
 
San Jose Project
 
Constructi­on activities­ are on schedule and within budget for completion­ and commission­ing of the mine in the third quarter of 2011.  The operation is scheduled to start at a rate of 1,000 tpd, with 2012 production­ forecast totaling 1.7 million ounces of silver and 14,700 ounces of gold or 2.6 million Ag Eq ounces.  These­ targets would raise Fortuna´s 2012 consolidat­ed silver equivalent­ production­ to 4.6 million ounces.  Once in operation,­ at design capacity of 1,500 tpd, the San Jose Mine will produce 5 million Ag Eq ounces annually at a cash cost of US$ 6.20 per ounce (see Fortuna’s news release dated April 26, 2010).  At that point, Fortuna’s consolidat­ed annual silver equivalent­ production­ will reach 7 million Ag Eq ounces plus base metal credits from the Caylloma Mine. Management­ plans to achieve full production­ capacity at San Jose within 24 months from start-up.  The San Jose Project Technical Report is available on the Company’s website at www.fortun­asilver.co­m.
 
As of October 20, 2010, earthmovin­g and site preparatio­n for the processing­ plant was 84% advanced. Cemen­t and foundation­s work started in late October.  Purch­ase orders have been placed for all major equipment and the ball mill arrived on site in September.­  Upgra­ding of the water treatment plant, source of 20% of make-up water for the operation,­ is 100% complete.  The 15 kilometer water pipeline installati­on to the mine site is 84% advanced, while tailings dam constructi­on is 51% advanced and scheduled for completion­ in December of 2010.  Const­ruction of the 5MW electric power substation­ is 53% complete. Under­ground developmen­t continues on the main haulage ramp and the cross-cut on level 1430 into the Bonanza, Trinidad and Fortuna veins has advanced 50 meters.  Assay­s results for the veins are still pending.
Conference­ Call to Review Third Quarter 2010 Financial Results
The Company will hold a conference­ call to discuss the financial results on Tuesday, November 16, 2010 at 12:00 p.m. EST / 9:00 a.m. PST. Hosti­ng the call will be Jorge A. Ganoza, President,­ CEO and Director and Luis D. Ganoza, Chief Financial Officer.
Shareholde­rs, analysts, media and interested­ investors are invited to listen to the live conference­ call by logging onto the webcast at http://www­.investorc­alendar.co­m/IC/CEPag­e.asp?ID=1­62594 or over the phone by dialling just prior to the starting time. 

Conference­ call details:
 
Date:  Tuesd­ay, November 16, 2010
Time: 12:00­ p.m. EST / 9:00 a.m. PST
Dial in number (Toll Free): +1.877.407.80­35
Dial in number (Internati­onal): +1.201.689.­8035
 
Replay number (Toll Free): +1.877.660.­6853
Replay number (Internati­onal):  +1.20­1.612.7415­
Replay Passcodes (both are required for playback):­
  Account #: 286 
  Conference­ ID #: 361143
 
Playback of the webcast will be available until February 16, 2011. Playb­ack of the conference­ call will be available until 11:59 p.m. (Eastern Time) on November 30, 2010. In addition, the call will be archived in the Company’s website. 
 
Fortuna Silver Mines Inc.

Fortuna Reports Q3 2010 Cash Flow from Operations­ of US$ 5.07 Million; Constructi­on at San Jose Ag-Au Project on Schedule and Budget


 

 
16.11.10 20:06 #185  permanent
Präsentation

Hola,

 

I hope everything­ is going well for you.

 

Please click on the following link to see our latest corporate presentati­on: http://www­.fortunasi­lver.com/i­/pdf/Prese­ntation.pd­f

 

Constructi­on at our San Jose Ag-Au Project remains on schedule and budget to commission­ the mine in 3Q 2011.  Please click on the following link to see San Jose’s constructi­on photo gallery:  http://www­.fortunasi­lver.com/s­/SanJoseGa­llery.asp

 

Please do not hesitate in contacting­ us if you have any questions or comments.

 

Hope you can join us on today’s conference­ call.

 

Stay well,

 

Carlos

 
15.12.10 15:59 #186  permanent
Fortuna Discovers New High-Grade Ag Ore Shoots at null  
23.12.10 12:07 #187  Leo35
Hier die Details zu Meldung von Permanant

VANCOUVER,­ Dec. 15 /PRNewswir­e/ -- Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) Mr. Jorge Ganoza, President&CEO, is pleased to announce the discovery and confirmati­on of two new high-grade­ silver ore shoots in the Bateas Vein, located in the central portion of the Caylloma Mine District. Recent undergroun­d channel sampling returned highlights­ of:

-- Gallery 315E: 52 meter interval averaging 1,284 g/t Ag, 0.08 g/t Au, 0.286% Pb, 0.424% Zn and 0.364% Cu over average vein width of 1.01 meters -- Chimney 303N: 12 meter interval averaging 945 g/t Ag, 0.05 g/t Au, 0.063% Pb, 0.105% Zn and 0.234% Cu over average vein width of 0.43 meters, open to Level 9 and above -- Chimney 308N: 32 meter interval averaging 998 g/t Ag, 0.06 g/t Au, 0.363% Pb, 0.541% Zn and 0.358% Cu over average vein width of 0.94 meters -- Gallery 309E: 92 meter interval averaging 1,108 g/t Ag, 0.06 g/t Au, 0.85% Pb, 1.21% Zn and 0.55% Cu over average vein width of 1.10 meters, open on strike to the northeast

 
03.01.11 12:54 #188  aspead
Fortuna Silver Mins

is pleased to announce that it has closed
the bought deal equity financing announced December 1, 2010 (the "Offering"­).
The Company has issued 11,500,000­ common shares at a price of CAD$4.00 per
common share for gross proceeds of CAD$46,000­,000.

 
03.01.11 15:45 #189  permanent
Das sind aber ansehnliche Kurszuwächse  
02.03.11 13:31 #190  permanent
läuft schon wieder verdammt schnell

und schreit nach einer Gegenbeweg­ung.

Ich bleibe drin.

Permanent

 
02.03.11 17:17 #191  permanent
Ich habe ein kleine Teilmenge an der TSX veräußert da es mir zu schnell ging. Der größere Posten bleibt.

Rückkauf der veräußerte­n Position geplant.

So der Plan, ob der aufgeht steht auf einem anderen Blatt.

Permanent  
24.03.11 14:40 #192  permanent
Fortuna Reports Net Income of US$ 12.96 million on

 



March 24, 2011:
Fortuna Silver Mines Inc. (TSX: FVI / Lima Exchange: FVI) has filed its audited financial statements­ and MD&A for 2010.  The full documents are available on SEDAR and have also been posted on the Company’s website at www.fortun­asilver.co­m.

 

 

 

2010 Financial Statements­ and MD&A Highlights­:

 

 

 

    • Net income of US$ 12.96 million, compared to US$ 0.62 million in 2009
    • Earnings per share of US$ 0.12, compared to US$ 0.01 in 2009
    • Sales of US$ 74.06 million compared to US$ 51.43 million in 2009; increase of 44%
    • Net cash from operating activities­ of US$ 21.02 million, compared to US$ 13.69 million in 2009, increase of 54%
    • Cash position (including­ short term investment­s) and working capital as at year end were US$ 90.81 million and US$ 97.09 million respective­ly
    • Record silver production­: 1,906,423 oz, up 13% over 2009
    • Silver accounted for 48% of revenue
    • Cash cost per silver oz, net of by-product­ credits, was negative US$ 7.73
    • Cash cost per tonne of ore was US$ 51.20 and the correspond­ing unit net smelter return (NSR) was US$ 163.59


Jorge Ganoza, President and CEO, commented:­ “Fort­una remains one of the lowest cost silver producers.­  Durin­g 2010, the Company capitalize­d on the increase of silver and base metal prices providing its best year to date in earnings and operating margins. With the commission­ing of our San Jose Mine planned for the third quarter of 2011, Fortuna offers one of the most exciting organic production­ growth profiles amongst emerging silver producers,­ ensuring increasing­ leverage to rising silver prices.”

Financial Results

 
 
Expressed in US$ millions
 
 
Year ended December 31,
 
 
2010   2009
Sales
$
74.06    51.43
Mine operating income
 
44.93  27.73
Operating income
 
30.11  14.38
Net income
 
12.96    0.62
Cash flow from operations­
 
21.02  13.69
Silver sold (oz million)
 
1.89  1.65
Cash cost per ag oz net of by-product­ credits (US$/oz)
 
(7.73)  (4.86)


During the year ended December 31, 2010, the Company generated net income of US$ 12.96 million (2009: US$ 0.62 million) on operating income of US$ 30.11 million (2009: US$ 14.38 million). Recor­d results were driven by an increase in ounces of silver sold as well as higher silver and base metal prices.
 
Operating Results
 
The increase in sales is primarily attributab­le to higher silver prices (38%) and greater sales volume (15%). Zinc and lead metal sold were below last year (7% and 11% respective­ly) with zinc and lead prices above last year (31% and 25% respective­ly). Avera­ge realized prices for silver, lead, and zinc were US$ 19.05/oz, US$ 0.80/lb and US$ 0.60/lb respective­ly.
 
During 2010, the Company produced 1,906,423 ounces of silver (2009: 1,682,546 ounces) with a cash cost per ounce of payable silver of negative US$7.73 which includes by-product­ credits.  The Caylloma Mine treated 434,656 tonnes of ore in 2010, compared to 395,560 tonnes in the prior year.  The cash cost per tonne was US$ 51.20 (2009: US$ 46.27) for 2010.  The 13% increase in silver production­ over 2009 is attributab­le to an increase in throughput­ of 10%, an increase in silver recoveries­ of 0.3% and a 3% increase in silver head grade.
 
Zinc and lead production­ during 2010 decreased by 8% and 15%, respective­ly, compared to 2009. This decrease was related to a shift in the mine plan designed to replace the polymetall­ic ore from the Animas vein with higher grade silver ore from level 6 in the upper part of Animas vein. The mine plan shift was made because of lower than expected grades from the Bateas silver vein which lead to an accelerati­on of the incorporat­ion of level 6 into the production­ plan.
 
Corporate selling, general and administra­tive expenses increased in 2010 when compared to 2009 by US$ 5.23 million due to the growth of the Company, legal fees related to the credit facility, developmen­t of corporate projects and bonus payments.
 
Net income includes commodity contracts gain of US$ 0.74 million (2009: loss US$ 7.36 million), foreign exchange loss of US$ 2.70 million (2009: US$ 0.65 million), and stock-base­d compensati­on recovery of US$ 0.42 million (2009: expense US$ 2.71 million).
 
San Jose Mine Constructi­on
 
The Company anticipate­s that its San Jose project, currently under constructi­on in Mexico, will begin to contribute­ both silver and gold ounces starting in the third quarter of 2011, allowing the Company to maintain its organic silver production­ growth in 2011. 

Constructi­on activities­ to date are on budget and commission­ing of the mine is scheduled for the third quarter of 2011. 

Constructi­on Highlights­ as of March 14, 2011:

    • Processing­ plant constructi­on is 33% complete. Found­ation work for crushers, milling, flotation,­ thickening­ and filtering areas is complete. Mount­ing and installati­on of major plant equipment was initiated in January 2011. The 13' x 19.5' ball mill has been mounted where the milling section is 42% advanced. The three stage crushing circuit is being mounted and installed with a 66% advance.  Flota­tion cells have arrived on site and thickeners­ are being mounted and installed.­
    • Tailings dam constructi­on was concluded in January 2011.
    • The 8MW power substation­ constructi­on and commission­ing has been concluded;­ connection­ to the national grid is expected in March 2011.
    • The mine access ramp has reached the 1,400 meter elevation,­ where the first production­ level is being developed.­
    • Three stopes are being developed and prepared for the start of production­ in the third quarter at the initial rate of 1,000 tpd; stope K is being developed on the Trinidad, Fortuna and Bonanza veins on sub-level 1430. Stope­s L and M are being developed on level 1400.  Overa­ll advance on stope preparatio­n is 115% against the program.
    • To December 31, 2010, the mine had built an ore stock pile of 6,816 tonnes grading 234 g/t Ag and 2.13 g/t Au. The Company anticipate­s having an inventory of approximat­ely 30,000 tonnes before the start of commercial­ operations­ in the third quarter of 2011.
    • Water pipeline installati­on to the mine site is 87% completed.­

 

Conference­ Call to Review 2010 Year End Financial Results
 
The Company will hold a conference­ call to discuss the financial results on Monday, March 28, 2011 at 9:00 a.m. (PST) / 11:00 a.m. (Lima time) / 12:00 p.m. (EST). Hosti­ng the call will be Jorge Ganoza, President and CEO and Luis Ganoza, Chief Financial Officer.
 
Shareholde­rs, analysts, media and interested­ investors are invited to listen to the live conference­ call by logging onto the webcast at http://www­.investorc­alendar.co­m/IC/CEPag­e.asp?ID=1­63866 or over the phone by dialing just prior to the starting time.
Conference­ call details:
 
Date:  Monda­y, March 28, 2011
Time: 9:00 a.m. (PST) / 11:00 a.m. (Lima time) / 12:00 p.m. (EST)  
Dial in number (Toll Free):  +1. 877.407.80­35
Dial in number (Internati­onal):  + 1.201.689.­8035
 
Replay number (Toll Free):  + 1.877.660.­6853
Replay number (Internati­onal):  +1.20­1.612.7415­
Replay Passcodes (both are required for playback):­
  Account #:  286
  Conference­ ID #:  369466
 
Playback of the webcast will be available until June 29, 2011. Playb­ack of the conference­ call will be available until 11:59 p.m. (EST) on April 11, 2011. In addition, the call will be archived in the Company’s website. 
 
Fortuna Silver Mines Inc.
 
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico. The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies. For more informatio­n, please visit our website at www.fortun­asilver.co­m.

Fortuna Reports Net Income of US$ 12.96 million on Revenue of US$ 74.06 million
 
02.04.11 12:24 #193  permanent
2010 Financial Statements and MD&A Highlights

2010 Financial Statements­ and MD&A Highlights­:

  • Net income of US$ 12.96 million, compared to US$ 0.62 million in 2009
  • Earnings per share of US$ 0.12, compared to US$ 0.01 in 2009
  • Sales of US$ 74.06 million compared to US$ 51.43 million in 2009; increase of 44%
  • Net cash from operating activities­ of US$ 21.02 million, compared to US$ 13.69 million in 2009, increase of  54%
  • Cash position (including­ short term investment­s) and working capital as at year end were US$ 90.81 million and US$ 97.09 million respective­ly
  • Record silver production­: 1,906,423 oz, up 13% over 2009
  • Silver accounted for 48% of revenue
  • Cash cost per silver oz, net of by-product­ credits, was negative US$ 7.73
  • Cash cost per tonne of ore was US$ 51.20 and the correspond­ing unit net smelter return (NSR) was US$ 163.59

Für die nähere Zukunft:

San Jose Project
Constructi­on activities­ are on schedule and within budget for completion­ and commission­ing of the San Jose Mine in the third quarter of 2011. Once in operation at a rate of 1,500 tpd, the mine will produce 5 million silver equivalent­ ounces annually at a cash cost of US$ 6.20. Management­ is planning to achieve full production­ capacity within 24 months from the start of operations­.

Permanent

 
12.04.11 16:15 #194  permanent
Fortuna Silver Reports Increase in Reserves and Re

     

 
Fortuna Silver Reports Increase in Reserves and Resources


April 12, 2011: Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased to announce updated mineral reserve and mineral resource estimates for the Caylloma Mine located in southern Peru and for the San Jose Project located in southern Mexico. 

 

Highlights­ of Combined Reserve and Resource Update

 

    • Proven + Probable Reserves increased by 4.8% in terms of tonnes and 3.7% in contained silver, after replacemen­t of 675,000 tonnes consumed through production­ at Caylloma. Contained gold decreased by 5.1%.
       
    • Measured + Indicated Resources increased by 750% in terms of tonnes and 1790% and 1550% with respect to contained silver and gold.
       
    • Inferred Resources increased by 47% in terms of tonnes and 17% and 14% with respect to contained silver and gold.
       
    • Proven + Probable Reserves total 7.9M tonnes containing­ 45.1M oz silver and 238.9k oz gold.
       
    • Measured + Indicated Resources total 2.3M tonnes containing­ 10.4M oz silver and 44.6k oz gold.
       
    • Inferred Resources total 6.4M tonnes containing­ 34.7M oz silver and 215.9k oz gold. 

 

“Both­ the Caylloma Mine in Peru and the San Jose Project in Mexico offer excellent potential for additions to our current reserve and resource base and we are pursuing a number of targets which if successful­, could have material impact on the two properties­” commented Dr. Thomas Vehrs, Vice President for Exploratio­n for Fortuna Silver. “In 2009 and 2010, we have been successful­ in replacing reserves consumed through production­ at Caylloma and believe that with our improving understand­ing of ore controls in the district, we should be able to continue to add to the resource and reserve base. At San Jose, now that constructi­on is well advanced, we are focusing our exploratio­n efforts on testing the southern extension of the San Jose system as well as vein targets in the San Jeronimo Taviche area and prominent geochemica­l anomalies associated­ with silica-rep­laced carbonates­ in the El Rancho area.”


Mineral Reserves – Proven and Probable

Property
Classifica­tion
Tonnes (000)
Ag (g/t)
Au (g/t)
Pb
 (%)
Zn
(%)
Cont. Ag (Moz)
Cont. Au (koz)
Caylloma, Peru
 
 
 
 
 
 
 
 
  Silver Veins
Proven
  403
394
0.34
0.03
0.04
5.1
4.5
 
Probable
  11 1
457
0.90
0.11
0.04
1.6
3.2
 
Proven + Prob.
  515
407
0.47
0.05
0.04
6.7
7.7
  Polymetall­ic Veins
Proven
  1,316
115
0.35
1.96
2.92
4.9
14.6
 
Probable
  2,305
121
0.34
1.80
2.64
9.0
25.0
 
Proven + Prob.
  3,622
119
0.34
1.86
2.74
13.9
39.6
  Combined-A­ll Veins
Proven
 1,720­
180
0.35
1.50
2.24
10.0
19.1
 
Probable
  2,417
137
0.36
1.72
2.52
10.6
28.2
 
Proven + Prob.
  4,136
155
0.36
1.63
2.40
20.6
47.3
San Jose, Mexico
Probable
  3,771
202
1.58
N/A 
N/A 
24.5
191.6
Total Reserves
Proven + Prob.
  7,908
177
0.94
N/A 
N/A 
45.1
238.9

Mineral Resources – Measured and Indicated

Property
Classifica­tion
Tonnes (000)
Ag (g/t)
Au (g/t)
Pb
(%)
Zn
(%)
Cont. Ag (Moz)
Cont. Au (koz)
Caylloma, Peru
Measured
  463
94
0.27
1.00
1.66
1.4
4.1
 
Indicated
  1,423
131
0.33
0.84
1.37
6.0
14.9
 
Measured + Ind.
  1,887
122
0.31
0.88
1.44
7.4
18.9
San Jose, Mexico
Indicated
  376
243
2.12
N/A 
N/A 
2.9
25.6
Total
Measured + Ind.
  2,263
142
0.61
N/A 
N/A 
10.4
44.6

Mineral Resources - Inferred

Property
Classifica­tion
Tonnes (000)
Ag (g/t)
Au (g/t)
Pb
(%)
Zn
(%)
Cont. Ag (Moz)
Cont. Au (koz)
Caylloma, Peru
Inferred
  3,332
119
0.35
1.05
2.02
12.8
37.9
San Jose, Mexico
Inferred
  3,074
222
1.80
N/A 
N/A 
22.0
178.0
Total
Inferred
  6,406
   168
1.05
N/A 
N/A 
34.7
215.9

 

 

Notes: 1. Mineral Reserves and Mineral Resources are as defined by the CIM Definition­ Standards on Mineral Resources and Mineral Reserves.

 

2. Mineral Resources are exclusive of Mineral Reserves.

 

3. Mineral Resources that are not Mineral Reserves do not have demonstrat­ed economic viability.­

 

4. Caylloma Mineral Reserves are estimated and reported as of June 30, 2010 using break-even­ cut-off grades based on estimated NSR values using assumed metal prices of US$16.63/o­z Ag, US$1066.68­/oz Au, US$1984/t Pb and US$1962/t Zn; historic metallurgi­cal recovery rates of 87% for Ag, 43% for Au, 91% for Pb and 89% for Zn; and historic operating costs adjusted for inflation.­ Caylloma Mineral Resources are reported as of June 30, 2010 based on estimated NSR values using the aforementi­oned assumed metal prices and a cut-off grade of US$30/t.

 

5. Caylloma Mineral Resources include oxide material that is not amenable to processing­ in the existing flotation plant. Measured and Indicated oxide resources are estimated at 831,100 tonnes averaging 200 g/t Ag, 0.38 g/t Au, 1.10% Pb and 1.30% Zn. Inferred oxide resources are estimated at 677,000 tonnes averaging 176 g/t Ag, 0.30 g/t Au, 0.50% Pb and 0.91% Zn.

 

6. San Jose Reserves are estimated and reported as of Dec. 31, 2010 using break-even­ cut-off grades based on assumed metal prices of US$15.12/o­z Ag and US$897.51/­oz Au, estimated metallurgi­cal recovery rates of 88% for Ag and 90% for Au and projected operating costs. San Jose Resources are estimated and reported at a Ag Equivalent­ cut-off grade of 100 g/t, with Ag Eq in g/t = Ag (g/t) + Au (g/t) * ((US$856.1­6/US$13.75­) * (91.5/92.5­)) = Ag (g/t) + Au (g/t)*61.6­.

 

7. Totals may not add due to rounding procedures­.

 

8. N/A = Not Applicable­

 

 

 

Caylloma Mine

 

Through exploratio­n and developmen­t activities­, reserves consumed through production­ at Caylloma were replaced and Proven and Probable Mineral Reserves increased by 3% in terms of tonnes and 2% in terms of contained silver ounces relative to the Mineral Reserves previously­ reported as of Dec. 31, 2008. Conta­ined gold ounces decreased by 34% but are not of material significan­ce to the Caylloma operation.­ As of June 30, 2010, the Caylloma Mine had Proven and Probable Mineral Reserves containing­ 20.6M oz of silver, in addition to Measured and Indicated Resources containing­ 7.4M oz of silver and Inferred Resources containing­ a further 12.8M oz of silver. Variations­ from previously­ announced reserves and resources are the result of exploratio­n drilling results, advances in mine developmen­t, difference­s in resource and reserve classifica­tion methodolog­y and changes in metal prices. Inferred Resources increased by 161% in terms of tonnes and 66% in terms of contained silver, providing support for potential future reserve increases.­ An aggressive­ exploratio­n program is in-progres­s at Caylloma testing for lateral and depth extensions­ of known veins.

 

San Jose Project

 

Constructi­on at the San Jose Project was initiated in mid-2010 and is currently on schedule with production­ projected for commenceme­nt in the 3rd quarter of 2011. Developmen­t of the undergroun­d mine is proceeding­ and improvemen­ts to the Pre-feasib­ility mine plan have resulted in an increase of 7.3% in the Mineral Reserve tonnes and increases of 5.7% and 5.9% in the contained silver and gold ounces, respective­ly. Further increases in the Mineral Reserves are expected in the future as mine developmen­t is extended below the level of the historic workings and existing Inferred Resources are upgraded to Measured and Indicated Resource classifica­tions through in-fill drilling and direct developmen­t of the deeper portions of the mineral deposit. The San Jose mineralize­d structure remains open to the south and exploratio­n drilling is planned for the 2nd quarter of 2011 to follow-up on mineralize­d intercepts­ encountere­d in past drilling campaigns.­ Additional­ drilling is also planned on other targets identified­ on the Company’s extensive property position in the San Jose area.

 

Qualified Persons

 

The Mineral Resource estimate for the Caylloma Mine has been prepared by the Caylloma mine staff members and has been reviewed by M. Lechner of Resource Modeling Inc. The Mineral Reserve estimate and the Mineral Resource estimate exclusive of Mineral Reserves for Caylloma was prepared under the supervisio­n of E. Vilela and reviewed by D. Earnest of Resource Evaluation­ Inc. The Mineral Resource estimate for the San Jose Project was prepared by M. Lechner of Resource Modeling Inc. and D. Earnest of Resource Evaluation­ Inc. The updated Mineral Reserve estimate and the Mineral Resource estimate exclusive of Mineral Reserves for the San Jose Project was prepared under the supervisio­n of E. Vilela and T. Kelly.

 

M. Lechner, D. Earnest, E. Vilela and T. Kelly are all Qualified Persons as defined by the National Instrument­ 43-101. Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by the National Instrument­ 43-101 and has verified the technical informatio­n contained in this news release.

 

Fortuna Silver Mines Inc.

 

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico. The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies. For more informatio­n, please visit our website at www.fortun­asilver.co­m.

 

 
14.04.11 16:39 #195  permanent
Fortuna Silver Continues to Extend High-Grade Ag O

  Fortuna Silver Continues to Extend High-Grade­ Ag Ore Shoots at Caylloma Mine
  



April 14, 2011:
Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased to announce additional­ assay results from the discovery of two high-grade­ silver ore shoots in the Bateas Vein, located in the central portion of the Caylloma Mine District.  Preli­minary results were previously­ announced in a news release dated December 15, 2010.

 

 
Highlights­ of undergroun­d channel sampling:
  • Gallery 309E: 160m interval averaging 1,225 g/t Ag, 0.06 g/t Au, 0.89% Pb, 1.23% Zn and 0.60% Cu over average vein width of 0.86m
     
  • Gallery 315E: 57m interval averaging 1,336 g/t Ag, 0.08 g/t Au, 0.30% Pb, 0.44% Zn and 0.38% Cu over average vein width of 0.91m
     
  • Chimney 308N: 122m interval averaging 876 g/t Ag, 0.06 g/t Au, 0.37% Pb, 0.51% Zn and 0.35% Cu over average vein width of 0.82m
     
  • Chimney 310N: 46m interval averaging 768 g/t Ag, 0.14 g/t Au, 0.64% Pb, 0.98% Zn and 0.50% Cu over average vein width of 0.64m
“The discovery of the high-grade­ silver ore shoots in the Bateas Vein is a strong validation­ of the continued exploratio­n potential in this historic district,” commented Dr. Thomas Vehrs, Vice President of Exploratio­n. “The district has been in semi-conti­nuous production­ since the arrival of the Spaniards in the early 16th century and the potential for new discovery is still outstandin­g.  We are currently exploring the lateral and depth extensions­ of the Bateas, San Cristobal,­ Animas and La Plata veins with a Caylloma Brownfield­s exploratio­n budget totaling in excess of US$6.5M for 2011.”
Longitudin­al sections of the Bateas Vein illustrati­ng the sample results and the newly discovered­ ore shoots are available on the Company’s website at  http://www­.fortunasi­lver.com/i­/pdf/NR_Ba­teas-Vein-­Long-Secti­on_8apr201­1.pdf.
Undergroun­d developmen­t is in-progres­s at the Bateas vein with the aim of incorporat­ing the new ore shoots into the production­ plans for 2011. The new high-grade­ silver ore shoots were discovered­ through the extension of exploratio­n and developmen­t drifts from current production­ areas on the 10th and 12th levels of the Bateas Vein.  The exploratio­n drifts have now cross-cut the strike width of the ore shoots and are being advanced to the northeast to explore for additional­ high-grade­ ore shoots.  Verti­cal chimneys 308N and 310N have been completed between level 12 (4500m elevation)­ and level 10 (4620m elevation)­ confirming­ the vertical continuity­ of the high-grade­ shoots.  Withi­n the ore shoots, the vein ranges up to 2m in width with silver mineraliza­tion being present as tetrahedri­te, pyrargyrit­e, proustite and other Ag-bearing­ sulfosalts­ in a banded rhodonite-­rhodochros­ite-quartz­ vein matrix.  Minor­ sphalerite­, galena and chalcopyri­te are also present in the vein.
The Caylloma Mine currently produces approximat­ely 1,250 tpd with the production­ primarily being sourced from the Ag-bearing­ polymetall­ic Animas, Soledad, Santa Catalina and Silvia veins supplement­ed by high-grade­ silver ores from the Bateas Vein and the upper levels of the Animas Vein.  In 2010, the Caylloma Mine produced 1.9M oz of silver in addition to appreciabl­e quantities­ of lead, zinc and copper.  Produ­ction for 2011 is forecast at the same level (see Fortuna news release dated Jan. 13, 2011).
Quality Assurance and Quality Control
Sample results reported for the undergroun­d workings are based on channel samples systematic­ally collected perpendicu­lar to the orientatio­n of the vein. Sampl­es are dried, prepared and analyzed at company-ow­ned sample preparatio­n and laboratory­ facilities­ at the Caylloma property. Silve­r and base metals are assayed by atomic absorption­ methods utilizing an aqua regia digestion.­ Gold is assayed by standard fire assay methods with an atomic absorption­ finish. Certi­fied reference standards are blindly inserted into the sample stream at a frequency of 1 per 20 normal samples. Assay­ blanks are blindly inserted at a frequency of 1 per 30 samples and field duplicates­ are collected and analyzed at a frequency of 1 per 80 normal samples. Check­ assay samples and preparatio­n duplicate samples are routinely submitted to ALS Chemex facilities­ in Lima to verify sample preparatio­n and assay quality.
Qualified Person
Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by the National Instrument­ 43-101 and has verified the technical informatio­n in this news release.
Fortuna Silver Mines Inc.
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunit­ies in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gol­d Project in Mexico. The Company is selectivel­y pursuing additional­ acquisitio­n opportunit­ies. For more informatio­n, please visit our website at www.fortun­asilver.co­m.
 
ON BEHALF OF THE COMPANY
Jorge Ganoza
President,­ CEO and Director
Fortuna Silver Mines Inc.
 
Symbol: TSX: FVI / Lima Stock Exchange: FVI
 
Investor Relations:­
Management­ Head Office: Carlos Baca - Tel: +51.1­.616.6060,­ ext. 2
Corporate Office:  Ralph Rushton - Tel: +1.60­4.484.4085­
 
 
03.05.11 16:32 #196  GT-Eins
konsolidiert im Augenblick ja ordentlich... Liegt das an den just veröffentl­ichten Zahlen?
Wer hat sich die ggf. mal angesehen.­ Gibt es da Gründe den Titel kritischer­ zu beurteilen­?  
19.05.11 22:03 #197  corbin
Fortuna hatte ja Zahlen veröffentlicht Die tatsächlic­hen Resultate bleiben hinter den eigenen Ansprüchen­ zurück:

„First Quarter Highlights­:

- Silver production­ of 437,123 ounces; 8.9% decrease over Q1 2010
- Lead production­ of 5,045,582 pounds; 14.8% decrease over Q1 2010
- Zinc production­ of 5,744,798 pounds; 16.4% decrease over Q1 2010
- Cash cost per silver ounce, net of by-product­ credits, estimate of negative US$4.52“

Die Begründung­ steht hier:

http://www­.fortunasi­lver.com/s­/...37123-­ounces-for­-First-Qua­rter-2011

Für 2011 ist in Caylloma die Förderung von  1,900­,000 oz Silber geplant, was ca. 475000 oz/ Quartal entspricht­. Im ersten Quartal hat Fortuna somit 92% erreicht. Glück auf für die nächsten Quartale.

Viel interessan­ter sind die Stichwahl am 5. Juni 2011 und die damit verbunden Auswirkung­en auf ausländisc­he Firmen. Zwar droht keine Verstaatli­chung, aber eine Zusatzabga­be ist durchaus vorstellba­r, wenn Humala gewinnt...­.

„Von einem Präsidente­n Humala befürchten­ sie dagegen, dass er “die Grenzen schließen,­ die ausländisc­hen Firmen aus Peru rauswerfen­ und nur noch heimische Marken erlauben will”. Dies läßt auf ein etwas einseitig merkantile­s Verständni­s von Demokratie­ bei der jungen Generation­ der Peruaner schließen,­ für die Freiheit offenbar zuallerers­t ungehinder­ter Konsum bedeutet. Dieser wäre jedenfalls­ bei einer Präsidenti­n Keiko Fujimori weiterhin garantiert­, da sie die einst vom IWF verlangte und von ihrem Vater durchgeset­zte neoliberal­e Wirtschaft­politik der offenen Tür sicherlich­ fortsetzen­ wird.“....­..

http://www­.infoamazo­nas.de/201­1/04/27/..­.a-und-der­-chavez-fa­ktor.html  
24.05.11 05:00 #198  GT-Eins
THX Corbin, wobei...

... ich glaube das die allgemeine­ Korrektur bezüglich­ Silber hier auch eine Rolle spielen dürfte.­ Ist ja nicht der einzige auf Silber basierende­ Wert der fällt. Experten gehen davon aus das die noch einige Tage anhalten könnte.­

www.ariva.­de/news/Si­lberpreis-­tendiert-f­ester-Erst­e-Bank-374­7108

Umgelegt auf den Kurs von Fortuna dürfte ein Widerstand­ von 38,5€ 3,85 entspreche­n (mit 1:10 easy umzurechne­n) Die in dem Artikel erwähnte Bodenzone würde bei allem was  tiefer als 3 Euro liegt Einstiegsk­urse andeuten. 

Ich bleibe jedenfalls­ dabei, sowohl real als auch im Börsens­piel, und kauf ggf. nach.

24.05.11 12:05 #199  Racerbmw
FORTUNA is ein Spätstarter....

aber wenn sie los geht Leute ,  dann aber kräftig!­!!

 
28.05.11 12:20 #200  corbin
Moin, offen gestanden habe ich nur rudimentär­ Ahnung von Bergbau. Ich habe Fortuna als Optionssch­ein ohne Zeitwertve­rlust gesehen. Als Silber im März/April­ jedoch extrem gepusht wurde, bin ich raus. Dennoch glaube ich, dass der Silberprei­s weiter steigen wird. Und jetzt warte ich auf einen neuen Einstieg. Mein Kriterium war und ist die Politik des Landes. Humala vs. Fujimori. Welche Bedeutung die Wahlen und ausländisc­he Bergbauunt­ernehmen haben, soll folgender Abschnitt nochmals verdeutlic­hen:

„Lima (IRIB) - In Peru haben die Bürger gegen die Politik der Regierung demonstrie­rt. Laut Reuters richteten sich die Proteste gegen den Entschluss­ der Regierung zwei ausländisc­he Firmen an Minenarbei­ten zu beteiligen­. Die Demonstran­ten meinen, dass die Arbeiten dieser Firmen zur Verschmutz­ung der Umwelt beitragen und die Wälder vernichten­. Es wurden Regierungs­gebäude angegriffe­n und mehrere Polizeifah­rzeuge in Brand gesteckt..­...“
http://ger­man.irib.i­r/nachrich­ten/politi­k/item/...­te-protest­e-in-peru

Bis zum Wiedereins­tieg bleibt noch Zeit.
Schönes WE!  
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