Fortuna Silver Mines, Inc. (FSM) (FVI.TO) provides an update on discussions with its senior lenders to amend the financial covenants contained in its US$150 million credit facility (the “Credit Facility”) (refer to Fortuna news release dated April 2, 2020). The Credit Facility requires the Company to maintain a total debt to EBITDA ratio of not greater than 3:1. As of the financial year ended December 31, 2019, the total debt to EBITDA ratio was 1.7:1.
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Fortuna Silver Mines Inc. (FSM) (FVI.TO) announces that it will release its financial statements and MD&A for the first quarter of 2020 on Thursday, May 14, 2020 after the market closes. A conference call to discuss the financial and operational results will be held on Friday, May 15, 2020 at 9:00 a.m. Pacific time | 12:00 p.m. Eastern time.
A total of 23,000,000 common shares (the “Shares”) were issued at a price of US$3.00 per Share for gross proceeds to the Company of US$69,000,000, which includes the exercise, in full, of the over-allotment option of an additional 3,000,000 Shares. The Offering was conducted through a syndicate of underwriters led by Scotiabank and BMO Capital Markets, and including PI Financial, CIBC Capital Markets and National Bank Financial. The Offering was completed by way of prospectus supplement to the Company’s final base shelf prospectus dated April 29, 2020, filed in each of the provinces of Canada, except Québec, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.
Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to report production results for the first quarter of 2020 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 1.8 million ounces of silver and 10,101 ounces of gold, plus base metal by-products. Government-mandated constraints on business to curb the spread of COVID-19 in the countries that host our operations, have resulted in reduced production at the Caylloma Mine during the first quarter of 2020, and subsequent to the end of the quarter, have resulted in the suspension of operations at the San Jose Mine.
Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2019 for the Caylloma Mine located in Peru and the San Jose Mine located in Mexico and reiterates the Mineral Reserve and Mineral Resource estimate as of March 31, 2019 for the Lindero Project located in Argentina. Jorge A. Ganoza, President and CEO, commented: “Our infill drill program at Caylloma was successful at replenishing the majority of Mineral Reserves mined in 2019 with higher grade mineralized material.”
Fortuna Silver Mines, Inc. (FSM) (FVI.TO) provides an update on the status of its operations at the Caylloma Mine in Peru (refer to Fortuna news releases dated March 17, 2020 and April 2, 2020), which is continuing to operate and contribute to the local economy during these challenging times for the world. On Sunday, March 15, 2020, the Government of Peru introduced a series of measures to contain the rapid spread of COVID-19 which included a declaration of a fifteen-day period of mandatory national “social isolation”, which has been subsequently extended to May 10, 2020. During this period, the Company has been working under the regulatory framework issued by the Ministerio de Energía y Minas (MINEM) and the Ministerio del Interior (MININTER), which allows mines to operate during this period with essential personnel.
Fortuna Silver Mines, Inc. (FSM) (FVI.TO) is pleased to announce that production activities have resumed at the San Jose Mine located in Oaxaca, Mexico. On March 31, 2020, the Government of Mexico announced extraordinary measures in response to the spread of COVID-19, which included the suspension of all non-essential activities, including mining, until April 30, 2020. This period of isolation was subsequently extended until May 30th, with the possibility of restrictions being lifted on or after May 18th subject to obtaining specific government approval.
Ladies and gentlemen, good day, and thank you all for joining us for this Fortuna Silver Mines' first-quarter 2020 financial call and operational results. To get us started with opening remarks and introductions I am pleased to yield the floor to Mr. Carlos Baca with investor relations manager.
Fortuna Silver Mines, Inc. (FSM) (FVI.TO) provides an update on the status of its operations (refer to Fortuna news release dated March 17, 2020), production and cost guidance for 2020 and its financial position in response to the COVID-19 pandemic. On Sunday, March 15, 2020, the Government of Peru introduced a series of measures to contain the rapid spread of COVID-19 which included: the closing of international borders and a declaration of a fifteen-day period of mandatory national “social isolation”. The period of social isolation has been subsequently extended to April 12, 2020.
Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to announce that it has published its 2019 Sustainability Report prepared under the Global Reporting Initiative Standards. The report highlights the Company’s sustainability strategy, progress and performance against its environmental, social, and governance (ESG) indicators and commitments. Jorge A. Ganoza, President and CEO, commented, “At Fortuna, we are committed to integrate sustainability into our business strategy in an open and transparent manner.”
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Fortuna Silver Mines Inc. (FSM) (FVI.TO) reports that the Company has filed today its fiscal 2019 annual report on Form 40-F with the U.S. Securities and Exchange Commission (“SEC”). The Form 40-F, which includes the Company’s fiscal 2019 annual audited financial statements, management’s discussion and analysis, and annual information form, is available on the Company’s website and on the SEC’s website. Printed copies of the annual financial statements are available free of charge to Fortuna shareholders upon written request.
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, May 14, 2020 -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) today reported a.
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to report that the illegal blockade of the roads in the municipality of San José del Progreso which prevented access to the San Jose Mine has been lifted (refer to Fortuna news release dated March 24, 2020). Fortuna is a growth oriented, precious metals producer focused on mining opportunities in Latin America. The Company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas.
Fortuna Silver Mines Inc. (FSM) (FVI.TO) announces that in the evening of March 19, 2020, the Government of Argentina declared effective at midnight a period of mandatory national “social isolation” in relation to COVID-19, effective until March 31, 2020. The Company is proceeding to orderly and safely demobilize its workforce at the Lindero gold Project in Salta Province, Argentina, in accordance with the Executive Order and the processes implemented for this purpose by the Provincial Government of Salta. As a result, the Company is temporarily suspending construction activities at Lindero for ten days.
Fortuna Silver Mines Inc. (FSM) (FVI.TO) reports that a group of individuals led by the former mayor of San José del Progreso, in the state of Oaxaca in Mexico, has illegally blockaded Federal Highway 175 and roads in the municipality of San José del Progreso, including access to the San Jose Mine, to protest the action taken by the Electoral Tribunal of the State of Oaxaca in revoking his appointment as mayor. As a result of the illegal blockade, the Company has temporarily halted mining and processing operations at the San Jose Mine. It maintains a taskforce on site to oversee critical activities to support the appropriate safety and environmental systems in place, and to ensure a prompt return to operations when the blockade is lifted.
Fortuna Silver Mines, Inc. (FSM) (FVI.TO) provides an update on the resumption of its construction activities at the Lindero gold Project, located in the Province of Salta, Argentina. On March 19, 2020, the Government of Argentina declared a period of mandatory national “social isolation” in relation to COVID-19, effective until March 31, 2020. Construction was temporarily halted at Lindero and a reduced task force remains on site to maintain critical activities including security and environmental monitoring over the extended isolation period (refer to Fortuna news release dated March 20, 2020).