The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Cormark Initiates Coverage on FVI
|
MATTHEW O'KEEFE, Cormark Securities Inc.
(10/14/2009)
"Fortuna Silver is a growing silver miner, developer and explorer with an operating mine in Peru and a development project in Mexico. Its 100%-owned Caylloma silver-zinc-lead mine located in the mineral-rich Southern Peruvian Andes produces about 1.6 MMoz silver per year. The mine is situated within a highly prospective land package with 30 known silver veins currently being explored. Fortuna is expected to start construction on its 100%-owned San Jose mine in Mexico early next year, which should provide the company with significant growth boosting production to over 5 MMoz silver per year. The company is well-financed with a strong balance sheet with over $33 MM in cash and almost no debt. In addition to the positive free cash being generated at Caylloma, we expect Fortuna will be able to fund construction of $46 M San Jose mine internally. Additional growth is expected to come from ongoing project enhancements, exploration and future acquisitions. We are initiating coverage on Fortuna Silver with a Buy recommendation and a 12-month target price of C$2.30 per share." |
PRINT THIS PAGE
EMAIL THIS PAGE
Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
More Experts
"We expect PGLC's Relief Canyon site to be meaningfully advanced in 2016." (12/16/15) Pershing Gold Corp. - Heiko Ihle, Rodman & Renshaw More >
"ICG continues to stand out as one of the most active junior exploration companies globally." (12/9/15) Integra Gold Corp. - Michael Gray, Macquarie Equity Research More >
"We are initiating coverage on NMI with a Buy rating." (12/9/15) Newmarket Gold Inc. - Heiko Ihle, Rodman & Renshaw More >
"TV's mill throughput was up 19% MOM; zinc recovery improved by 9%." (12/9/15) Trevali Mining Corp. - Joseph Gallucci, More >
"THO pays a good dividend and produces at the lowest quartile costs." (12/9/15) Tahoe Resources Inc. - Gwen Preston, Resource Maven More >