4 Overview Fortuna Silver Mines is an emerging silver producer focused on Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru, and the San Jose Silver-Gold Mine in Oaxaca, Mexico. Fortuna intends to be a 2 M oz/yr silver producer in 2006 and is uniquely positioned to make additional acquisitions in Latin America.
4 People Fortuna management has extensive experience in exploration, mining and business development in Latin America, and is committed to aggressive growth through acquisition and advanced stage exploration.
Jorge A. Ganoza Durant, B.Sc. Eng. - President & Director
Mr. Ganoza Durant is a geological engineer with 12 years experience in mineral exploration and business development for various private and public exploration companies in Central and South America.
Peter Thiersch, M.Sc. P.Geo. - V.P. Exploration
Mr. Thiersch is a geologist with 20 years experience in mineral exploration throughout North and South America, specializing in epithermal and porphyry related precious metal exploration.
Jorge R. Ganoza Aicardi, B.Sc. Eng. - V.P. Operations
Mr. Ganoza Aicardi is a mining engineer with 30 years experience in exploration and mine development in Latin America, including managing the start up of 3 mid size underground mines in Peru and Panama.
Simon Ridgway - Director
Mr. Ridgway has over 15 years experience managing exploration companies in North, Central and South America, including Radius Gold. His companies have made several major discoveries in Honduras and Guatemala.
Tomas Guerrero Mendez, Eng. - Director
Mr. Guerrero is a geological engineer with over 30 years of mine geology and mineral exploration experience in Peru, Mexico, Bolivia, Venezuela, Chile, Argentina and Ecuador. He discovered and put in production three mid size gold-silver mines.
4 Property Caylloma Silver Mine, Peru
Fortuna acquired 100% of the Caylloma Silver Mine from the Hochschild Group in early 2005. Caylloma was developed on a system of multiple silver-lead-zinc veins located in southern Peru. The mine hosts a NI 43-101 compliant estimate of 7 million ounces silver in proven and probable reserves, plus 14 million ounces silver in inferred resources, along with significant base metal credits. The mine was temporarily closed in 2003 due to low metal prices, but produced 2.6M oz silver in 2002.
Management believes there is excellent potential to build on this resource base, increase future production rates and realize significant upside in additional zinc credits. The Company is therefore conducting a major exploration drilling campaign during 2005 and 2006 to revise the existing resource and production models. All operating and environmental permits are in place, and Fortuna expects to move rapidly into production.
San Jose Silver-Gold Mine, Mexico
Fortuna has also recently signed an option agreement with Continuum Resources to earn up to a 70% interest in the San Jose Silver-Gold Mine, by spending C$2 million over the next 24 months. The mine contains an NI 43-101 compliant estimate of roughly 12 million ounces silver equivalent (200,000 ounces gold equivalent) in the Inferred Resource category.
The mine is currently producing at a rate of 100 tpd, and the Company will be focusing on exploration drilling in 2006 with the intent of expanding this resource and increasing future production rates. The acquisition also includes access to a significant portfolio of high potential exploration projects assembled by Continuum.
4 Politics Peru and Mexico are developing nations with democratically elected governments. Both are relatively stable and business oriented, with long histories of mining. At Caylloma, the district has seen mining for over 400 years and the previous owners have developed excellent relationships with the local community which Fortuna expects to continue.
4 Paper Fortuna trades on the Toronto Venture Exchange under the symbol FVI (V.FVI) and on the Frankfurt Exchange in Germany under the symbol F4S. The company has a total of 26,006,086 shares outstanding and 45,799,497 fully diluted.
The Company has recently received notice from the DGM seeking to cancel the mining concession if the royalty, in the Mexican pesos equivalent of US$30 million plus VAT (being the amount of the claimed royalty from 2011 to 2019), is not paid before March 15, 2020.
Da wollen Leute die Hand aufhalten die nix beigetragen haben ? 30 Mio USD Plus Steuer Lizenzgebühren an den vorherigen Besitzer für die Jahre 2011-2019. Hört sich für mich nach Korruption an.
der WS Kapitalismus, alternativlos halt... "Scotiabank and BMO Capital Markets, and including PI Financial, CIBC Capital Markets and National Bank Financial" Zur Beruhigung: das läuft aber im Grunde fast immer so, besonders dreist in Nord-Amerika.
sich in der gegenwärtigen Gold+Silber Konsilidierung sehr gut. Deutet sich da eine Übernahme an oder woran liegt das? Die anstehenden hohen Gewinne durch Lindero sind doch eigentlich schon seit einiger Zeit bekannt - oder preisen die Anleger das erst jetzt ein?
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