Fortuna beats guidance, reports record production of 5.2 million silver equivalent ounces for 2012 and issues production guidance for 2013

About this update from Fortuna Mining Corp.

[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Jan. 14, 2013 /CNW/ - Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) (BVL: FVI) (Frankfurt:\n F4S.F) is pleased to announce 2012 record silver and gold production figures\n from its San Jose mine located in Mexico and Caylloma mine located in\n Peru.\n\n\nThe company's mining operations performed strongly in 2012 delivering\n our sixth consecutive year of silver and gold production growth and\n sustained low cash cost per silver ounce. For 2013, Fortuna is\n scheduled to produce 4.4 million ounces of silver and 23,300 ounces of\n gold or 5.7 million Ag Eq ounces plus significant base metal credits.\n\n\nJorge A. Ganoza, President and CEO, commented: \"2012 has been our sixth\n year of continued record silver and gold production growth highlighted\n by the first year anniversary of successful commercial operations at\n our San Jose mine.  For 2013, we continue to project sustained low cost\n silver and gold production expansion driven by the San Jose ramp-up to\n be commissioned in early Q3 2013. Fortuna´s strategic objective is to\n target an annual production rate of 14 million silver and gold\n equivalent ounces by 2016 while maintaining cash costs at its\n operations below industry average.\"\n\n\n2012 Consolidated Production Highlights\n\n\n\nSilver and gold production was 8% and 19% above 2012 production guidance\n respectively\n\n\nSilver production of 4.0 million ounces; 59% increase over 2011\n\n\nGold production of  20,699 ounces; 195% increase over 2011\n\n\nEstimated consolidated cash cost per ounce of silver, net of by-product\n credits, is US$ 6.38 (*)\n\n\n\n   (*)   The final calculation of operating costs has not yet been\n completed and the amounts are approximations.\n\n\n\n\n\n2012 Consolidated Operating Highlights \n\n\n\n\n\n\n\n \n\n\nQ4 2012\n\n\n2012\n\n\n\n\n \n\n\nCaylloma,\nPeru\n\n\nSan Jose,\nMexico\n\n\nConsolidated\n\n\nCaylloma,\nPeru\n\n\nSan Jose,\nMexico\n\n\nConsolidated\n\n\n\n\nProcessed Ore\n\n\n   \n\n\n\n\nTonnes milled\n\n\n115,522\n\n\n98,348\n\n\n213,870\n\n\n462,222\n\n\n369,022\n\n\n831,244\n\n\n\n\nAverage tpd milled\n\n\n1,256\n\n\n1,107\n\n\n \n\n\n1,266\n\n\n1,055\n\n\n \n\n\n\n\nSilver\n\n\n   \n\n\n\n\nGrade (g/t)\n\n\n176\n\n\n177\n\n\n \n\n\n177\n\n\n188\n\n\n \...

More updates from Fortuna Mining Corp.