Fortuna Silver Mines Inc. is a rapidly growing silver producer with two low-cost operating mines and commanding land positions in Peru and Mexico. Established in 2005, with a mandate to acquire silver-rich exploration projects and producing mines in Latin America, Fortuna's management team has effectively implemented a disciplined growth strategy.
In 2014, silver and gold production increased for the eighth consecutive year, reaching 6.6 million ounces of silver and 35,316 ounces of gold at a consolidated all-in sustaining cash cost (AISCC) per ounce of silver of US$14.48, net of by-product credits.
Drawing on mineral reserves as of December 31, 2014 containing approximately 41 million ounces of silver and 252,000 ounces of gold, Fortuna expects to produce 6.5 million ounces of silver and 35,300 ounces of gold, plus significant lead and zinc by-products in 2015. The estimated consolidated AISCC, net of by-product credits, is $16.61 per ounce of silver, which includes $4.00 per ounce attributed to the mill expansion underway at San Jose.
Fortuna is targeting growth in both reserves and production by leveraging its industry expertise in Latin America. Management is committed to operating profitability and maintaining industry best practices while striving for excellence in employee relations, community outreach and safeguarding of the environment.
Fortuna is financially stable and has no long-term debt or hedging programs. Shares of the company trade mainly on the New York Stock Exchange (NYSE: FSM) and the Toronto Stock Exchange (TSX: FVI).
Fortuna is headquartered in Vancouver, Canada and maintains management offices in Lima, Peru. The company employs over 1,600 people in Canada, Peru and Mexico.
| || |
| || || |