Business
Fortuna Increases Silver Production by 13% in 2010 and Issues Production Guidance for 2011
Jan. 13, 2011 (Canada NewsWire Group) -- VANCOUVER, Jan. 13 /CNW/ - Fortuna Silver Mines Inc...
About this update from Fortuna Mining Corp.
[{"type":"text","content":"\n\n\n\n Jan. 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Jan. 13 /CNW/ - Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased to report that 2010 marked its fourth successive year of\n silver production growth from the Caylloma Mine in Peru. The Company\n anticipates that the San Jose project, currently under construction in\n Mexico, will begin to contribute both silver and gold ounces starting\n in the third quarter of 2011 allowing Fortuna to maintain its organic\n silver production growth in 2011. At full design capacity, planned for\n late 2013, San Jose is scheduled to produce 3.2 million ounces of\n silver, 24,220 ounces of gold or 4.6 million silver equivalent ounces.\n The Company will be issuing an update on the construction of its San\n Jose project in the following days.\n\n\nThe Company has a solid mineral reserve base of approximately 43 million\n ounces of silver and 251,000 ounces of gold and is well positioned to\n remain in the lower cost quartile for silver producers based on an\n estimated cash cost of negative US$ 7.40, net of by-product credits,\n for 2010.  The Company is sufficiently funded to meet its planned\n capital programs for 2011 with a strong treasury, starting the year\n with a cash position of US$ 91 million and no long term debt. Capital\n programs for 2011 include an ambitious 30,000 meter drill program,\n which is starting this month around our two key assets, Caylloma and\n San Jose.\n\n\nHigh...