Business
Fortuna Silver Mines Reports Results for the Fourth Quarter and Full Year 2022
(All amounts expressed in US dollars, tabular amounts in millions, unless otherwise stated) VANCOUVER, British Columbia, March 15, 2023 (GLOBE NEWSWIRE) -- Fort
About this update from Fortuna Mining Corp.
[{"type":"text","content":" (All amounts expressed in US dollars, tabular amounts in millions, unless otherwise stated) VANCOUVER, British Columbia, March 15, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) (“Fortuna” or the “Company”) today reported its financial and operating results for the fourth quarter and full year 2022. Fourth Quarter and Full Year 2022 highlights Financial Adjusted net income1 of $7.2 million or $0.02 per share in Q4 2022, totaling $42.6 million, or $0.15 per share for the full year 2022 Net loss for the quarter of $160.4 million or $0.52 per share after non-cash impairment charges net of tax of $164.5 million in Q4 2022, totaling a net loss of $135.9 million for the full year 2022 Adjusted EBITDA1 of $55.8 million in Q4 2022; totaling $245.5 million for the full year 2022 Free cash flow from ongoing operations1 of $4.4 million in Q4 2022; totaling $69.2 million for the full year 2022 Share buybacks of $5.9 million completed during 2022 Liquidity as at December 31, 2022 was $150.5 million Operational Silver and gold production of 1,746,746 ounces and 64,112 ounces respectively in Q4 2022; 6,907,275 ounces and 259,427 ounces for the full year 2022; gold equivalent3 production of 401,878 ounces for the full year 2022. Q4 2022 cash costs1 per ounce of gold of $815 for the Lindero Mine and $818 for the Yaramoko Mine. Cash costs1,2 per silver equivalent ounce of payable silver sold of $11.16 for the San Jose Mine and $12.46 for the Caylloma mine. Q4 2022 AISC1 per ounce of gold sold of $1,221 for the Lindero Mine and $1,829 for the Yaramoko Mine. AISC1,2 per silver equivalent ounce of payable silver sold of $15.53 and $20.30 for the San Jose Mine and Caylloma Mine, respectively Full year 2022 AISC1 per ounce of gold sold of $1,142 for the Lindero Mine and $1,529 for the Yaramoko Mine. AISC1,2 per silver equivalent ounce of payable silver sold of $15.11 and $17.97 for the San Jose Mine and Caylloma Mine, respectively Lost Time Injury Frequency Rate (LTIFR) of 0.39 and Total Recordable Injury Frequency Rate (TRIFR) of 2.32 at the end of the year, with one fatal accident (refer to Fortuna’s news release January 28, 2022) and five lost time injury incidents recorded during the year. Growth and Development Séguéla Project construction 93% complete as of the end of February 2023. On-time and on-budget for first gol...