Fortuna reports production of 2.2 million ounces of silver and 12,542 ounces of gold for the third quarter of 2018
VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report production results for the third quarter of 2018 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.2 million ounces of silver and 12,542 ounces of gold, plus base metal by-products. Silver and gold production for the first nine months totaled 7.0 million ounces and 42,140 ounces respectively; being 13 percent and 16 percent above the Company's nine month projection. Fortuna is on schedule to produce 8.3 million ounces of silver and 48.3 thousand ounces of gold or 11.4 million Ag Eq1 ounces in 2018 in accordance with our production guidance (see Fortuna news release dated January 17, 2018).
Third Quarter Production Highlights
- Silver production of 2,230,465 ounces; 11 percent increase over Q3 2017
- Gold production of 12,542 ounces; 6 percent decrease over Q3 2017
- Lead production of 7,575,541 pounds; 1 percent decrease over Q3 2017
- Zinc production of 11,482,583 pounds; 2 percent increase over Q3 2017
- Cash cost2 for San Jose is US$63.30/t
- Cash cost2 for Caylloma is US$88.53/t
Consolidated Operating Highlights
|Third Quarter 2018||Third Quarter 2017|
|Average tpd milled||1,511||2,985||1,486||3,038|
1. Silver equivalent production does not include lead or zinc and is calculated using a silver to gold ratio of 65 to 1
2. Preliminary estimates of cash operating costs per tonne, subject to modification on final cost consolidation
3. Metallurgical recovery for silver at the Caylloma Mine is calculated based on silver content in lead concentrate
4. Totals may not add due to rounding
|Third Quarter 2018||Third Quarter 2017|
San Jose Mine, Mexico
The San Jose Mine produced 1,991,211 ounces of silver and 12,387 ounces of gold in the third quarter of 2018, 11 percent and 9 percent above budget respectively. Average head grades for silver and gold were 258 g/t and 1.61 g/t, 11 percent and 9 percent above budget respectively. Silver and gold production for the first nine months of 2018 totaled 6.3 million ounces and 41,692 ounces respectively; being 13 percent and 16 percent above the mine’s nine-month projection.
Caylloma Mine, Peru
The Caylloma Mine produced 239,253 ounces of silver in the third quarter of 2018, 19 percent above budget. Average head grade for silver was 65 g/t, 16 percent above budget. Silver production for the first nine months of 2018 totaled 692,101 ounces; 13 percent above the mine’s nine-month projection.
Lead and zinc production for the third quarter of 2018 was 7,575,541 pounds and 11,482,583 pounds respectively, 20 percent and 1 percent above budget respectively. Average head grades for lead and zinc were 2.74% and 4.24%, 17 percent above and in line with budget respectively. Base metals production for the first nine months totaled 21,801,786 pounds of lead and 33,947,289 pounds of zinc; being 14 percent and 1 percent above the mine’s nine-month projection.
Eric N. Chapman, M.Sc., Vice President of Technical Services, is the Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Mr. Chapman is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of British Columbia (Registration Number 36328) and has reviewed and approved the scientific and technical information contained in this news release.
About Fortuna Silver Mines Inc.
Fortuna is a growth oriented, precious metals producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver Mine in southern Peru, the San Jose silver-gold Mine in Mexico and the Lindero gold Project in Argentina. The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. For more information, please visit our website at www.fortunasilver.com.
Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Trading symbols: NYSE: FSM | TSX: FVI
T (Peru): +51.1.616.6060, ext. 0
Forward looking Statements
This news release contains forward looking statements which constitute “forward looking information” within the meaning of applicable Canadian securities legislation and “forward looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward looking Statements”). All statements included herein, other than statements of historical fact, are Forward looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward looking Statements. The Forward looking Statements in this news release may include, without limitation, statements about the Company’s plans for its mines and mineral properties; the Company’s business strategy, plans and outlook; the merit of the Company’s mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for silver and other metals; technological and operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding mine production costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company’s current mineral resource and reserve estimates; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward looking Statements.
This news release also refers to non-GAAP financial measures, such as cash cost per tonne of processed ore. These measures do not have a standardized meaning or method of calculation, even though the descriptions of such measures may be similar. These performance measures have no meaning under International Financial Reporting Standards (IFRS) and therefore, amounts presented may not be comparable to similar data presented by other mining companies.
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
The Graduate Management Admission Council Selects Three New Business Schools for Membership10.12.2018 16:26 | Pressemelding
Schools Bring Expertise and Insight in Support of GMAC Mission RESTON, Va., Dec. 10, 2018 (GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, welcomes three new members. The addition of ESCP Europe, WHU – Otto Beisheim School of Management, and Xavier University Bhubaneswar brings GMAC’s total membership to 225. Select business schools are invited to apply for GMAC membership by its Board of Directors. Each school goes through a comprehensive application process that addresses the sustained commitments to supporting GMAC’s mission: providing the tools and information necessary for schools and talent to discover and evaluate each other. “GMAC continues to strengthen our membership of graduate business schools that are not only working to address the changing needs of students, but also understanding the landscape and what can be done to better prepare students for their careers,” said Sangeet Chowfla, president
Doc re. GE Files Form 8-K10.12.2018 16:08 | Pressemelding
FAIRFIELD, Conn., Dec. 10, 2018 (GLOBE NEWSWIRE) -- Company General Electric Company ISIN US3696041033 Symbol London: GEC | Paris: GNE Headline Doc re: GE files Form 8-K December 10, 2018 On December 10, 2018, General Electric Company (the "Company") filed a Form 8-K with the U.S. Securities and Exchange Commission ("SEC"), which has been submitted to RNS. It is also available on the SEC's website at http://www.sec.gov and on the Company's website at https://www.ge.com/investor-relations/events-reports. http://www.rns-pdf.londonstockexchange.com/rns/0008K_1-2018-12-10.pdf CONTACT: GE Jennifer Erickson +001 646 682 5620 email@example.com This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact firstname.lastname@example.org or visi
Robex Resources Inc.: Drilling Results Confirming and Extending Gold Mineralization at Nampala10.12.2018 15:28 | Pressemelding
QUÉBEC CITY, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. (« Robex » and/or « the Company ») (TSXV : RBX / FWB : RB4) is pleased to provide drilling results from the ongoing drill definition and exploration program at its 100% owned Nampala gold project located in the Sikasso administrative region of the Republic of Mali. The 20,000 meters drill program commenced in September 2018. The program is currently focused on infill drilling within the Nampala open pit and resource area and on exploration drilling on the adjacent Mininko exploration permit. The Company is reporting assay results from 57 drill holes (totaling 5,392 metres): 13 diamond drill holes (totaling 1,272 meters) and 44 RC holes (totaling 4,120 meters). The program is still ongoing and other results will be reported once the results are received, validated and compiled. In this release, significant assay results from 43 intercepts in 23 drill holes are reported herein are provided in Table 1 below and include th
WillScot Announces Completion of Warrant Exchange Offer10.12.2018 15:09 | Pressemelding
BALTIMORE, Dec. 10, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”) (NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced the completion of its previously announced exchange offer (the “Exchange Offer”) relating to certain outstanding warrants (the “Warrants”). The Exchange Offer expired at 11:59 p.m., Eastern Time, on December 7, 2018. Under the terms of the Exchange Offer, each Warrant holder had the opportunity to receive 0.18182 shares of WillScot Class A Common Stock, par value $0.0001 per share (“Common Stock”), for each Warrant tendered by the holder and exchanged pursuant to the Exchange Offer. As of the expiration of the Exchange Offer on December 7, 2018 at 11:59 p.m. Eastern Time, 45,131,827 outstanding Warrants were properly tendered and not withdrawn in the Exchange Offer. 45,031,827 of the Warrants tendered were public warrants, representing approximatel
CERESPIR INCORPORATED and the NATIONAL NEUROSCIENCE INSTITUTE SINGAPORE Announce Positive Data Showing Beneficial Effects of CERESPIR’s Clinical Stage Compound Itanapraced in a LRRK2 Model of Parkinson’s Disease 10.12.2018 15:00 | Pressemelding
Itanapraced blocks LRRK2 expression and LRRK2-mediated neurotoxicity Itanapraced ready to advance to Phase 2 in Parkinson’s disease patients with and without genetic mutation NEW YORK and SINGAPORE, Dec. 10, 2018 (GLOBE NEWSWIRE) -- CERESPIR INCORPORATED a pharmaceutical company engaged in the discovery and development of disease-modifying therapeutics for the treatment of neurodegenerative diseases, and THE NATIONAL NEUROSCIENCE INSTITUTE SINGAPORE, a national and international center of excellence in neuroscience with its mission to improve lives through integrated clinical service, research and education, announced today that they have obtained animal proof of concept for CERESPIR’s clinical stage compound itanapraced in Parkinson’s disease models. Specifically, itanapraced, which was previously tested with positive results in patients with mild cognitive impairment (MCI), was shown to block the expression of LRRK2 and, additionally, prevent neurotoxicity resulting in the preservati
DSM Sinochem Pharmaceuticals announces its new name - Centrient Pharmaceuticals10.12.2018 13:29 | Pressemelding
The name, resulting from a change in ownership, reflects its role at the centre of modern healthcare ROTTERDAM, Netherlands, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Effective December 10, 2018 Centrient Pharmaceuticals is the new name for DSM Sinochem Pharmaceuticals, the leading manufacturer of beta-lactam antibiotics and a provider of next-generation statins and anti-fungals . The new name has been chosen to reflect the company’s key contribution to modern healthcare, and marks the next phase in its strategic evolution following a change of ownership to Bain Capital Private Equity. CEO Karl Rotthier states: “Our bold and creative new name and logo showcase our company as one which prides itself on being at the centre of modern healthcare, through our life-saving active pharmaceutical ingredients and finished dosage forms. We’re building on a rich history that began 150 years ago as the ‘Nederlandsche Gist- en Spiritusfabriek’, then Gist Brocades and more recently DSM Sinochem Pharmaceutica
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom