Fortuna Silver Mines Inc. (TSX: FVI, NYSE: FSM) recently released its 2nd quarter results. At first glance, they were disappointing, missing analyst estimates with net income of only $1.68 million. The company recorded write-downs on ore inventories and there were negative price adjustments for concentrate shipments. Looking closer, the picture is different. In 1Q2022, net operating cash flow was $33.2 million, while in 2Q they posted $47.4 million. Operationally, the mines are doing well, with Lindero continuing to be the cash cow with AISC of $1,151/oz. Séguéla mine construction in Côte d’Ivoire is progressing on schedule and within budget, which is particularly noteworthy in this inflationary environment. Once the investments at Séguéla are completed, Fortuna will see a significant expansion in free cash flow. In this difficult environment for mining companies, Fortuna’s management would like to leverage the treasures in the large portfolio, but would also consider value-creating opportunities.
About the interviewee:
Jorge A. Ganoza co-founded Fortuna Silver Mines Inc. in 2004 and currently serves as our President and CEO and as a Director on our Board. Jorge is an experienced geological engineer who has worked on mineral exploration, mining and business development projects throughout Latin America since 1995. Before founding Fortuna, he worked in business development at senior levels for several private and public Canadian junior mining companies operating in Central and South America. He graduated from the New Mexico Institute of Mining and Technology in 1995. Jorge served as director of Ferreycorp from March 2017 to July 2020. (Source: Fortuna web site)
About Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and a fifth mine under construction in Côte d’Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. (Source: Fortuna web site)
Sources and further information:
🌐Fortuna Silver Mines Inc. web site
https://fortunasilver.com
🆕Press releases
https://fortunasilver.com/investors/news/
📈Company presentation
https://fortunasilver.com/corporate-presentation/
Quarterly reports
https://fortunasilver.com/site/assets/files/13817/fortuna_q1_2022_fs_11may22.pdf
https://fortunasilver.com/site/assets/files/13924/fortuna_q2_2022_fs_10aug22.pdf
❗This is not a recommendation to buy shares. Please do your own research and consult your advisors. All stock investments are risky up to total loss.
#FortunaSilverMines #Mexico #Gold #Silber #Elfenbeinküste
5 Comments
Danke dir, du machst einen gute Job und hast einen gesunden Humor. Bin gerne zu Besuch bei euch. Grüsse
Danke Jan für das interessante und detaillierte Video mit dem CEO von Fortuna Silver. 👍
wer mit der inflazion flirtet, wird von ihr geheiratet !
der dt. ober(H)ampelmaennchen muss sch1z bald ausgewexlt werden gg. habakuk vor ablauf s1es MHD, die strippen zieht sowieso schorsch so ross !
Hallo Jan, danke für das Update.
Das macht mich zuversichtlich das es nach 2 Jahren bergab mit Fortuna mittelfristig wieder signifikant aufwärts gehen wird.