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.
In 2017, Fortuna expects to increase annual production to 8.1 million ounces of silver, 52.4 thousand ounces of gold, 30.0 million pounds of lead and 41.0 million pounds of zinc. Estimated consolidated all-in sustaining cash cost is estimated at $9.8 per ounce of silver, net of by-product credits. Production and cost estimates are based on Mineral Reserves and Resources as of December 31, 2016.
Fortuna acquired the open pit, heap leach Lindero gold Project in Salta, Argentina, in mid-2016. Based on a current feasibility study, Lindero has potential to annually produce approximately 108 thousand ounces of gold, or 6.5 million ounces of silver equivalent1. A construction decision is expected in the third quarter of 2017. Following a 15 to 18 month construction period, commissioning of the Lindero Mine is anticipated in the second half of 2018.
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).
- Ag Eq calculated using 60:1 silver to gold ratio