Fortuna Silver Mines Inc (TSX:FVI) is engaged in base and precious metal mining and operates in West Africa and Latin America.
The mining company, established in 2005, initially focused on opportunities in Latin America. As a result, it acquired the Peru-based Caylloma Mine containing silver, lead and zinc deposits in Arequipa.
In 2006, the silver miner acquired a 76 per cent interest in the gold-silver San Jose Project located in Mexico.
By 2009, the company increased its stake in the Mexican property to 100 per cent and undertook the Environmental Impact Study and construction permits to commence the mining business.
Fortuna has a 100 per cent stake and mining concessions for the Caylloma Mine Project in southern Peru. The Caylloma Mine is a silver and base metal-rich epithermal deposit currently operating at a production rate of 1,430 tons per day, the company claims. The concentrates are primarily extracted from the Animas Vein silver-polymetallic mine.
As of 2020, the mine reportedly produced:
• 0.97 ounces of silver
• 4.11 ounces of gold
• 29.63 million pounds of lead
• 45.55 million pounds of zinc
The Canadian producer went public in 2010 with Initial Public Offering, followed by listing on the Toronto Stock Exchange under the 'FVI' stock symbol.
In 2011, the company got listed on the New York Stock Exchange and the common shares' trading symbol is 'FSM'.
Fortuna wholly owns the San Jose Mine project through its Mexico-based subsidiary. The project is located in Oaxaca's Taviche mining district. In 2020, the mining facility reportedly produced around 37,805 ounces of gold and 6.17 million ounces of silver.
Fortuna Silver also operates a gold mine, Lindero Gold Mine Project, in Argentina, which contributed 13,435 ounces of yellow metal in 2020, the company claims.
The West African mining operations consist of high-grade orogenic deposits located in Burkina Faso and Côte d’Ivoire.
The company is presently focusing on a brownfield exploration project worth US$320,000 at the Lindero Mine. The project includes mapping, drill testing and surface mapping, including drilling at the Arizaro target.