Business
Fortuna reports record production of 1,027,741 ounces of silver and 5,348 ounces of gold for the third quarter 2012
VANCOUVER, Oct. 11, 2012 /CNW/ - Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FV...
About this update from Fortuna Mining Corp.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Oct. 11, 2012 /CNW/ - Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt:\n F4S.F) announces production figures for the third 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 third quarter of 2012, the company produced 1,027,741 ounces of\n silver and 5,348 ounces of gold plus significant base metal by-product.\n Silver and gold productions for the first nine months of the year\n totaled 2,977,025 ounces and 16,331 ounces respectively; reflecting 80%\n and 94% of the company's 2012 annual production guidance (see Fortuna\n news release dated January 26, 2012). At this rate of production,\n Fortuna is on track to exceed its 2012 forecast of 3.7 million ounces\n of silver and 17,400 ounces of gold.\n\n\nThird Quarter Production Highlights\n\n\nSilver production of 1,027,741 ounces; 53% increase over Q3 2011\n\n\nGold production of 5,348 ounces; 230% increase over Q3 2011\n\n\nLead production of 4,451,943 pounds; 10% decrease over Q3 2011\n\n\nZinc production of 5,614,859 pounds; 3% decrease over Q3 2011\n\n\nMr. Jorge A. Ganoza, Fortuna's President and CEO, said, \"The company is\n on track to beat its annual production guidance.  Our operations teams\n continue to successfully execute our mine plans and capitalize on\n opportunities to further optimize processes at our mines in Peru and\n Mexico.  The expansion of the San Jose mine's processing plant is\n proceeding as scheduled with completion planned by mid-2013; purchasing\n of the 800 tpd ball mill and other major equipment has taken place.\n Once the expansion is commissioned, Fortuna will be producing at an\n annual consolidated rate of 5 million ounces of silver and 26,000\n ounces of gold plus significant base metal credits. At Caylloma, the\n tailings dam project has been de-risked. We are pleased with the prompt\n response from the Mines and Energy Ministry and look forward to\n receiving the final operations permit in the upcoming weeks.\"\n\n\nThird Quarter Consolidated Production Table: \n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nThird Quarter 2012\n\n\nThird 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\...