Cara Community GSM: Fortuna Silver

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


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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