Sector Experts

Benjamin Asuncion

Haywood Securities

Benjamin Asuncion is a research analysts with Haywood Securities. Asuncion was previously involved in the management of a $10 million endowment fund at Simon Fraser University. He holds a Bachelor of Business degree from Simon Fraser University.




Recent Interviews

Benjamin Asuncion and Geordie Mark: Six Gold and Silver Leaders at Today's Prices (2/24/14) gold and silverBenjamin Asuncion and Geordie Mark of Haywood Securities forecast 2014 gold and silver prices of $1,300/ounce and $21.50/ounce, respectively. In this interview with The Gold Report, they argue that the gold and silver companies that will thrive in 2014 will be those blessed with prudent but aggressive management that can post good margins at today's prices. And they suggest a half-dozen gold and silver miners poised to do just that.

Recent Quotes

"SVL recovered 72% silver and 92% gold in Q3/14." (10/15/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Q3/14 consolidated production represents a quarterly record." (10/15/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's expansion studies at San Jose continue toward a decision by year-end." (10/10/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND completed the acquisition of Elgin for 50M shares and $27M in cash." (9/11/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Santa Elena drill results are similar to previous wider-spaced holes." (9/4/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's acquisition of Elgin Mining should close on or about Sept. 10." (9/3/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's global resources have demonstrated significant growth, increasing 57% year over year." (8/27/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"In Q2/14, SVL delivered operating cash flow of $1.6M." (8/15/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

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"The 40M share transaction does not impact MND's financial position." (8/15/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q2/14 operating cash flow came in ahead of our estimates." (8/14/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL successfully completed the commissioning phase at Santa Elena mine." (8/11/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We view a successful closing of MND's Elgin acquisition as probable." (8/8/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"Gold recoveries from AKG's Dynamite Hill beat our projections." (7/29/14) Asanko Gold Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI intersected 1,029 g/t Ag and 5.94 g/t Au over 3.3m at Trinidad North." (7/14/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q2/14 Ag eq production came in 6% higher than our estimate." (7/11/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's drilling extended the distribution of known mineralization." (7/11/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Cerro Bayo ramp-up and Cuffley contribution were key in Q2/14." (7/10/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q2/14 production came in 6% higher than our estimate." (7/10/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"AKG has 4.92 Moz gold in 2P resources with potential for expanding the mine life." (6/18/14) Asanko Gold Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We look for MND to replicate the turnaround success demonstrated at existing mines." (6/5/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI delivered Q1/14 operating cash flow of $16.9M ($0.13/share)." (5/13/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q1/14 operating cash flow exceeded our estimates." (5/12/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND declared a dividend after earnings exceed expectations." (5/7/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND had a stronger-than-anticipated financial performance in Q1/14." (5/6/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's bond offering is anticipated to fund the Challacollo capital requirements through start-up." (4/30/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Trinidad North continues to deliver bonanza intercepts." (4/29/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's proposed $60M funding removes questions regarding Challacollo." (4/24/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND expanded Au-Ag-Sb production in Chile and Australia." (4/15/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL produced 201 Koz silver and 7.5 Koz gold during Q1/14." (4/15/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q1/14 consolidated production exceeded expectations." (4/14/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"Mill commissioning at SVL's Santa Elena is anticipated in Q2/14." (4/7/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"ICG's Lamaque has favorable infrastructure and the potential to deliver 112.4 Koz/year." (4/3/14) Integra Gold Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL delivered Q4/13 operating cash flow of $4M on revenues of $12.9M." (3/25/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We are upgrading our rating on FVI to Buy." (3/19/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI continues to return significant grades over potentially mineable widths at Trinidad North." (3/10/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI has a strong management team with a track record of successful and prudent acquisitions." (2/24/14) Fortuna Silver Mines Inc. - The Gold Report Interview with Benjamin Asuncion Moreá>

"MND's alignment with shareholders stands out among its peers." (2/24/14) Mandalay Resources Corp. - The Gold Report Interview with Benjamin Asuncion Moreá>

"MND's Cerro Bayo is set for expansion in Q1/14." (2/19/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"Mine life at MND's Costerfield is ~3 years and at Cerro Bayo, ~5." (2/14/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND has completed acquisition of the Challacollo silver-gold project." (2/10/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"Stepout drilling at FVI's Trinidad North continues to highlight the deposit's great potential." (1/21/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Q4/13 silver equivalent production exceeded our expectations." (1/17/14) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND will focus on the Cerro Bayo expansion to 1,400 tpd in Q1/14." (1/16/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"Drilling shows mineralization at MND's Cerro Bayo could extend further." (1/15/14) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's overall Q4/13 consolidated production exceeded expectations." (1/13/14) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"The acquisition of Challacollo bolsters MND's development pipeline." (12/23/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"Drill results show FVI's potential to expand the Inferred resource." (11/25/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Q3/13 results came in above our and consensus' expectations." (11/15/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Q3/13 operating cash flow came in above our expectations." (11/7/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's balance sheet allows for more operating freedom and flexibility." (11/7/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's San Jose update showed increases to reserves and resources." (10/18/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's strong performance from Caylloma was attributed to higher silver grades and recoveries." (10/15/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"The expansion plan at SVL's Santa Elena remains on time and budget." (10/15/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's PEA for Costerfield presents an economically robust operation." (10/11/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"For Q3/13, MND reported consolidated production of 734 Koz of silver, 14.4 Koz of gold and 966 tonnes of antimony." (10/8/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Coyita vein at Cerro Bayo has multiple intercepts with great potential." (10/1/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's completion of the San Jose plant expansion is positive." (9/24/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's drill results highlight the potential for growth at Santa Elena." (9/5/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Santa Elena expansion is progressing on time and on budget." (8/16/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND saw record gold and silver production from Costerfield and Cerro Bayo." (8/9/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's prefeasibility study for Santa Elena is generally positive." (7/30/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's higher grades and lower strip ratios are expected to support operating margins in H2/13." (7/23/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's gold and silver production results beat our projections." (7/23/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's principal driver of near-term growth comes from plans to expand San Jose." (7/23/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We expect SVL's production and grades to increase in H2/13." (7/17/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Q2/13 silver production beat was from higher throughput and grades." (7/17/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL has entered into a credit facility; it is projected to have sufficient resources to complete the 2013 capital program at Santa Elena." (7/12/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's gold and silver production at San Jose exceeded our expectations." (7/11/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Q2/13 production results exceeded our expectations." (7/11/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's amended credit facility provides additional operating flexibility." (7/3/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's San Jose mill expansion is on track for commissioning in Q3/13." (6/18/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We view the drill results at FVI's Trinidad North as positive." (5/22/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND's Costerfield delivered another solid quarter across all metrics." (5/15/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's Q1/13 results were largely in line with our expectations." (5/15/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q1/13 cash flow exceeded our expectations." (5/9/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"SVL's production rates and strip ratios are expected to improve over 2013." (4/25/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI extended the mineralized zone at San Jose to the north at depth." (4/22/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND reported record gold production at Costerfield for Q1/13." (4/18/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"We maintain our Buy rating on FVI." (4/18/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"Our Sector Outperform rating on EDR remains unchanged." (4/9/13) Endeavour Silver Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"We are initiating coverage on SVL with a Sector Outperform rating." (3/5/13) SilverCrest Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"We reiterate our Sector Outperform rating on MND." (2/22/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"EDR has demonstrated the ability to turn around Mexican silver assets." (1/31/13) Endeavour Silver Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"MND reported Q4/12 production that exceeded expectations." (1/15/13) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI reported production of 1 Moz Ag and 4.4 Koz Au in Q4/12." (1/15/13) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"FVI's Q3/12 production was in line; costs were below expectations." (11/12/12) Fortuna Silver Mines Inc. - Benjamin Asuncion, Haywood Securities Moreá>

"MND delivered a second consecutive quarter of solid production." (11/12/12) Mandalay Resources Corp. - Benjamin Asuncion, Haywood Securities Moreá>

"EDR released higher-than-anticipated cash flow and lower cash costs for Q3/12." (11/7/12) Endeavour Silver Corp. - Benjamin Asuncion, Haywood Securities Moreá>

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