Fortuna Silver Updates Latin American Mine Production; Shares Rise 7%


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Shares Fortuna Silver Mines Inc. ( FSM ) have spiked almost 7% in midday trade to $5.15 after revealing production figures for Q3 2012 from its two mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru.

For Q3 2012 the company produced 1.03 million oz. of silver and 5,348 oz.of gold plus significant base metal by-product. Silver and gold productions for the first nine months of the year totaled 2,977,025 oz. and 16,331 oz. respectively; reflecting 80% and 94% of the company's 2012 annual production guidance. At this rate of production, Fortuna is on track to exceed its 2012 forecast of 3.7 million ounces of silver and 17,400 ounces of gold.

FSM shares are trading within a 52-week range of $3.10 - $7.67.

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This article appears in: Investing , Commodities

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