Fortuna Silver Mines Inc (TSX FVI NY FSM) added Apr 28, 2010
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Latin
American Expertise
Fortuna's key strength is industry expertise in Latin America. Management's
knowledge of regional mining, business practices, exploration, geology and
regulatory environments has allowed Fortuna to identify and seize opportunities
within the region. We are aggressively pursuing and evaluating further accretive
acquisitions throughout the Americas.
Two Key Assets
The 100%-owned Caylloma
Ag-Zn-Pb-Cu Mine is located in the mineral-rich Caylloma Mining District in
the southern highlands of Arequipa, Peru. It is a high grade epithermal vein
system with significant untested potential within its over 10,000 hectare land
package. Fortuna operates the mine at over 1,200 tpd and is working on the
permitting to further increase throughput to 1,500 tpd. Exploration activities
include testing of high grade silver and base metal targets within the Caylloma
Mining District and evaluation of surrounding properties to identify
opportunities warranting more advanced exploration and development.
The 100% owned San Jose
Ag-Au Project is a low sulphidation epithermal system located within the
Taviche Mining District located in southern Oaxaca, Mexico. On April 26th, 2010
a positive pre-feasibility study (PFS) was published which sets the basis of
construction of the Company's second mine, a 1,500 tpd underground silver-gold
mine. The PFS indicates an after-tax internal rate of return of 18% and an NPV
of US$ 36 million at a discount rate of 8%. Construction activities have started
and are 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 deliver 5 million silver equivalent ounces annually at a cash
cost of US$ 6.20 per ounce.
Rapid Growth
Fortuna is a growth oriented silver and base metal producer focused on mining
opportunities in Latin America. Since opening the Caylloma Mine in Peru, The
Company has become one of Latin America's fastest-growing silver producers. Our
second asset, the San Jose Project, will triple the Company's silver equivalent
production when it opens in the third quarter of 2011. We remain focused on our
goal of building the foundations of a leading silver miner in Latin America, a
region where management holds relevant expertise and experience and where we are
pursuing additional accretive acquisition opportunities.
RECENT NEWS Fortuna Reports Production Figures for Third Quarter 2011
Fortuna to Begin Trading on the New York Stock Exchange on September 19, 2011
Fortuna Announces Mill Start-Up at its San Jose Mine in Oaxaca, Mexico
Fortuna Reports Production Figures for Second Quarter 2011
Fortuna's San Jose Mine Updated Mine Plan and Consolidated Production Forecast
Fortuna Reports Net Income of US$ 12.96 million on Revenue of US$ 74.06 million
Fortuna's San Jose Project on Schedule for Production in Q3 2011
Fortuna Increases Silver Production by 13% in 2010 and Issues Production Guidance for 2011
Andrew Kaip ............BMO Capital Markets…Nov 01, 2011
Downgraded to MARKET PERFORM from OUTPERFORM
FVI Price day before:$6.33Finish day posting$6.27Current:$6.27
------Jan 18, 2011--------
Maintained OUTPERFORM
Target raised to $6.00 from $5.00(Target Hit Apr 07, 2011)
FVI Price day before:$4.14Finish day posting$4.24Current:$6.27
------Oct 26, 2010-------
Maintained OUTPERFORM
Target raised to $5.00 from $3.50 (Target Hit Feb 18, 2011)
FVI Price day before:$3.61Finish day posting$3.79Current:$6.27
-------.July 13, 2010-------
New OUTPERFORM
Target $3.20 (Target Hit Sept 14, 2010)
FVI Price day before:$2.04Finish day posting$2.09Current:$6.27
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............Recognia….Oct 04, 2011
Megaphone Top
Target $2.20 / $2.70
FVI Price day before:$5.02Finish day posting$4.83Current:$6.27
-----Sept 23, 2011-----
Megaphone Top
Target $4.20 / $4.50 (Target Hit Oct 04, 2011)
FVI Price day before:$6.19Finish day posting$5.66Current:$6.27
------Aug 30, 2011---
Symmetrical Continuation Triangle (Bullish)
Target $7.20 / $7.40 (Target Hit Sept 21, 2011)
FVI Price day before:$5.77Finish day posting$6.10Current:$6.27
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Chris Thompson............Haywood Securities….Sept 29, 2011
Upgraded to OUTPERFORM from SECTOR PERFORM
FVI Price day before:$5.32Finish day posting$5.36Current:$6.27
------Aug 16, 2011--------
Maintained SECTOR PERFORM
FVI Price day before:$5.50Finish day posting$5.47Current:$6.27
-----June 10, 2011------
New SECTOR PERFORM
FVI Price day before:$4.54Finish day posting$4.45Current:$6.27
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Graeme Jennings............Cormark Securities….Sept 06, 2011
Maintained BUY
Target raised to $8.25 from $7.40
FVI Price day before:$6.45Finish day posting$6.33Current:$6.27
------June 24, 2011------
New BUY
Target $7.40
FVI Price day before:$5.12Finish day posting$5.12Current:$6.27
Nicholas Campbell ............Canaccord/Genuity….Aug 16, 2011
Maintained SPECULATIVE BUY
Target raised to $9.00 from $8.50
FVI Price day before:$5.50Finish day posting$5.47Current:$6.27
-----Apr 27, 2011-------
Maintained SPECULATIVE BUY
Target raised to $8.50 from $6.60
FVI Price day before:$5.31Finish day posting$5.75Current:$6.27
--------Mar 25, 2011------
Maintained SPECULATIVE BUY
Target $6.60 (Target Hit Apr 08, 2011)
FVI Price day before:$5.52Finish day posting$5.54Current:$6.27
------Aug 16, 2010------
Maintained SPECULATIVE BUY
Target raised to $3.90 from $3.70 (Target Hit Nov 01, 2010)
FVI Price day before:$2.37Finish day posting$2.30Current:$6.27
-------Apr 27, 2010-------
Maintained SPECULATIVE BUY
Target reduced to $3.70 from $4.40 (Target Hit Oct 27, 2010)
FVI Price day before:$2.32Finish day posting$2.23Current:$6.27
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Brian Quast ............CIBC World Markets….Mar 29, 2011
Target raised to $6.25 from $5.50 (Target Hit Apr 07, 2011)
FVI Price day before:$5.14Finish day posting$5.09Current:$6.27
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Matthew O'Keefe ............Cormark Securities….Mar 25, 2011
Downgraded to MARKET PERFORM from BUY
Target $6.00 (Target Hit Apr 07, 2011)
FVI Price day before:$5.52Finish day posting$5.54Current:$6.27
-------Jan 10, 2011---------
Maintained BUY
Target raised to $6.00 from $4.50(Target Hit Apr 07, 2011)
FVI Price day before:$4.40Finish day posting$4.41Current:$6.27
--------Nov 16, 2010-------
Maintained BUY
Target raised to $4.50 from $4.00 (Target Hit Dec 06, 2010)
FVI Price day before:$3.82Finish day posting$3.73Current:$6.27
--------Oct 06, 2010-----
Maintained BUY
Target raised to $4.00 from $3.50(Target Hit Nov 04, 2010)
FVI Price day before:$3.25Finish day posting$3.35Current:$6.27
---------June 17, 2010-------
Maintained BUY
Target raised to $3.50 from $2.90 (Target Hit Oct 25, 2010)
FVI Price day before:$2.14Finish day posting$2.25Current:$6.27
--------Apr 27, 2010--------
Maintained BUY
Target reduced to $2.90 from $3.40 (Target Hit Sept 07, 2010)
FVI Price day before:$2.32Finish day posting$2.23Current:$6.27
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Wayne Hewgill ............PI Financial….Apr 27, 2010
Downgraded to NEUTRAL from BUY
FVI Price day before:$2.32Finish day posting$2.23Current:$6.27
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Anthona Curic ............Versant Partners….Apr 27, 2010
Downgraded to NEUTRAL from BUY
FVI Price day before:$2.32Finish day posting$2.23Current:$6.27
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