Fortuna Silver (NYSE: FSM) (TSX: FVI) update 11-13-2020
Market Cap: $1.3 Billion (USD) Share Price: $7.12 (USD)
Shares outstanding: 184,195,277 (187.6 M fully diluted)
Cash and cash equivalents: $76.7 M (USD) as of 30 Sept 2020
Debt: $133.0 M (USD) at 30 Sept 2020 Credit: $150 M ($95 M drawn)
Current operations: Yes (Mines in Mexico, Peru, and Argentina)
Insider holdings: Low Institutional: 165 holders at approx 50% of the float
Website: fortunasilver.com
https://www.fortunasilver.com/site/assets/files/5654/fortuna_corporate_presentation_4nov20.pdf
CEO: Jorge A. Ganoza HQs in Vancouver, Canada
Fortuna Silver 2020 est. production (no guidance): approx 17 mil oz AgEq
Q3 Highlights:
- Fortuna Silver produced 2.13 Million oz silver, 12,791 oz gold
- GAAP earnings of $0.07 on revenue of $83.4 Million
- The free cash flow of $30.1 Million, compared to $10.6 Million last year
- Cash & Cash equivalents improved by almost $9.0 Million
- Total Net Debt to EBITDA ratio is 1:1
- Lindero Mine (Argentina) achieved first gold pour on 20 October with 728 oz. of gold. Commercial production is expected to start in Q1 2021. Heap leach open-pit mine)
Bottom line:
- Relatively small but well-managed, financially stable mining company
- Presently 7.70% portfolio weighting
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