Business
Fortuna Reports Production of 996,193 Ounces of Silver and 5,846 Ounces of Gold for the Second Quarter 2012
VANCOUVER, July 12, 2012 /CNW/ - Fortuna Silver Mines Inc. (NYSE: FSM ) (TSX: FVI) (BVL: F...
About this update from Fortuna Mining Corp.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, July 12, 2012 /CNW/ - Fortuna Silver Mines Inc. (NYSE: FSM ) (TSX: FVI) (BVL: FVI) (Frankfurt:\n F4S.F) announces production figures for the second quarter of 2012 from its two\n 100% owned operating underground mines in Latin America, the San Jose\n mine in Mexico and the Caylloma mine in Peru.\n\n\nFor the second quarter of 2012, the company produced 996,193 ounces of\n silver and 5,846 ounces of gold plus significant metal base by-product.\n Silver and gold productions for the first six months of the year\n totaled 1,949,284 ounces and 10,983 ounces respectively; reflecting 53%\n and 63% of the company's 2012 production guidance (see Fortuna news release dated January 26, 2012).  At this rate of production, Fortuna is on track to exceed production\n of 3.7 million ounces of silver and 17,400 ounces of gold, or 4.6\n million Ag Eq ounces, plus significant base metal by-product in 2012.\n\n\nSecond Quarter Production Highlights\n\n\nSilver production of 996,193 ounces; 110% increase over Q2 2011, 4.5%\n increase over Q1 2012\n\n\nGold production of 5,846 ounces; 816% increase over Q2 2011 and 13.8%\n increase over Q1 2012\n\n\nLead production of 4,055,465 pounds; 23% decrease over Q2 2011 and 8.7%\n decrease over Q1 2012\n\n\nZinc production of 5,324,929 pounds; 14% decrease over Q2 2011 and 0.1%\n increase over Q1 2012\n\n\nMr. Jorge A. Ganoza, Fortuna's President and CEO, said, \"Management is\n pleased with the execution of our mine plans and the manner in which\n the teams on the ground are capturing opportunities to increase\n production. This has resulted in our achieving 53% and 63% of silver\n and gold production respectively against guidance by mid-year. Our next\n leg of growth will be driven by the delivery of the San Jose mine's\n expansion to 1,500 tonnes per day.  At this point, Fortuna's\n consolidated annual rate of production is planned to increase to more\n than 5 million ounces of silver and 26,000 ounces of gold by the second\n half of 2013.\"\n\n\n\n\n\nSecond Quarter Consolidated Production Table: \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nSecond Quarter 2012\n\n\nSecond Quarter 2011\n\n\n \n\n\nCaylloma,Peru\n\n\nSan Jose,Mexico\n\n\nConsolidated \n\n\nCaylloma,Peru\n\n\nSan Jose,Mexico\n\n\nConsolidated\n\n\nProcessed Ore\n\n\n \n\n\n ...