Entering text into the input field will update the search result below

Fortuna Silver Mines slides as Lindero continues to weigh

  • Fortuna Silver Mines (NYSE:FSM) -2.4% pre-market after reporting lower than expected Q1 earnings and a 16% Y/Y drop in revenues, with free cash flow from ongoing operations falling to $2.2M from $16.8M in the year-ago quarter.
  • FSM says the weaker sales were due primarily to a decline in metal prices for silver, lead, and zinc of 7%, 19% and 21%, respectively, and to lower sales volumes in silver and gold of 7% and 11%, as well as a $3.7M accumulation of concentrate inventory during the quarter.
  • FSM says construction at the Lindero open pit heap leach gold mine in Argentina is at 47% completion, with construction spending totaling $42.2M in Q1 and $165M altogether.
  • The San Jose mine in Mexico produced 2M oz. of silver and 12.7K oz. of gold during Q1, which were 9% and 14% below the year-ago quarter, due primarily to lower head grades for silver and gold; the Caylloma mine in Peru produced 7.2M lbs. of lead and 11.3M lbs. of zinc, which were both 2% higher than a year ago.

Recommended For You

Related Stocks

SymbolLast Price% Chg
FSM
--
FVI:CA
--