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Symbol
Currency
NYSE:FSM
USD
TSE:FVI
CAD
Description
Fortuna Silver Mines Inc are a gold focused mid-tier producer with two producing mines in Mexico and Peru, two mines in development in Argentina and Burkina Faso and four exploration properties. Currently they produce roughly 400koz. of gold per year. They have approximately 6Moz. of gold in the reserves and resources category of which 5Moz. are in the measured and indicated category. They have a market capitalisation of ~$1032.68M which is a fall of roughly 10% over the last seven months. As of 11/13/2021 they have ~$133M debt and ~$111M cash. They have 291M shares outstanding and trade on the New York Stock Exchange and the Toronto Stock Exchange.
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General Details
Financial
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Mkt. Cap (FD):
$1,148.41M
$1,032.68M
11/13/2021
$-115.73M
Total Assets:
$1,000.00M
$1,000.00M
11/13/2021
$0.00M
Total Liabilities:
$312.00M
$312.00M
11/13/2021
$0.00M
Current Assets:
$250.00M
$250.00M
11/13/2021
$0.00M
Current Liabilities:
$200.00M
$200.00M
11/13/2021
$0.00M
Total Debt:
$133.00M
$133.00M
11/13/2021
$0.00M
Cash:
$135.00M
$111.00M
05/11/2022
$-24.00M
Enterprise Value:
$1,146.41M
$1,054.68M
06/03/2003
$-91.73M
Cash Flow:
$137.12M
$141.01M
never
$3.89M
Cash Flow Multiple:
8.38
7.32
never
-1.05
Net Debt to Cash Flow Ratio:
n/a
0.16
never
0.16
Finance within 1 year:
11/13/2021
n/a
Tax Rate:
(guess) 30.00%
(default) 30.00%
11/13/2021
0.00%
Misc
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Shares Outstanding:
291,425,000
291,425,000
11/13/2021
0
Shares (FD):
296,746,000
296,746,000
11/13/2021
0
Insider Ownership:
n/a
n/a
never
n/a
Company Type:
Mostly Silver
Mostly Gold
never
n/a
Production ETA:
n/a
n/a
11/13/2021
n/a
Production (Gold Eq Oz.):
(guess) 328,539
(guess) 400,000
04/11/2022
71,461
Production (Silver Eq Oz.) :
(guess) 24,215,330
(guess) 33,518,987
04/11/2022
9,303,657
Initial CapEx (Outstanding):
n/a
n/a
11/13/2021
n/a
Funding Option:
n/a
n/a
11/13/2021
n/a
Documentation:
none
PRODUCER
05/11/2022
n/a
Value Adjustment:
200%
150%
never
-50%
Resource Data
GOLD
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
O U N C E S
T O T A L
Proven & Probable:
3.70M
4.00M
04/11/2022
0.30M
Measured & Indicated:
4.00M
5.00M
04/11/2022
1.00M
Inferred:
0.50M
1.00M
04/11/2022
0.50M
Reserves & Resources:
4.50M
6.00M
never
1.50M
P L A U S I B L E
Proven & Probable:
3.15M
3.40M
04/11/2022
0.26M
Measured & Indicated:
3.35M
4.08M
04/11/2022
0.73M
Inferred:
0.21M
0.43M
04/11/2022
0.21M
Reserves & Resources:
3.56M
4.51M
never
0.94M
C U R R E N T
Annual Production:
(guess) 220,000oz.
(CG) 400,000oz.
04/11/2022
180,000oz.
Cash Cost:
$850
$900
05/11/2022
$50.00
Extra Operating Cost:
$500
$450
05/11/2022
$-50.00
Average Grade:
3.00 g/t
3.00 g/t
11/13/2021
n/a
Recovery Rate:
(CG) 85.00%
(CG) 85.00%
05/11/2022
0.00%
F U T U R E
Proven & Probable:
4.50M
5.00M
04/11/2022
0.50M
Annual Production:
300,000oz.
500,000oz.
04/11/2022
200,000oz.
Cash Cost:
$850
$900
05/11/2022
$50
Extra Operating Cost:
$450
$450
11/13/2021
$0
SILVER
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
O U N C E S
T O T A L
Proven & Probable:
45.00M
n/a
04/11/2022
0.00M
Measured & Indicated:
45.00M
n/a
04/11/2022
0.00M
Inferred:
30.00M
n/a
04/11/2022
0.00M
Reserves & Resources:
75.00M
n/a
never
-75.00M
P L A U S I B L E
Proven & Probable:
40.50M
n/a
04/11/2022
-40.50M
Measured & Indicated:
40.50M
n/a
04/11/2022
-40.50M
Inferred:
13.50M
n/a
04/11/2022
-13.50M
Reserves & Resources:
54.00M
n/a
never
-54.00M
C U R R E N T
Annual Production:
(guess) 8,000,000oz.
n/a
0oz.
Cash Cost:
$10.00
n/a
04/11/2022
$0.00
Extra Operating Cost:
$5.00
n/a
04/11/2022
$0.00
Average Grade:
150.00 g/t
n/a
04/11/2022
n/a
Recovery Rate:
(CG) 90.00%
n/a
04/11/2022
-15.00%
F U T U R E
Proven & Probable:
60.00M
n/a
04/11/2022
0.00M
Annual Production:
8,000,000oz.
n/a
04/11/2022
n/a
Cash Cost:
$11.00
n/a
04/11/2022
$0.00
Extra Operating Cost:
$6.00
n/a
04/11/2022
n/a
Property
Last Analysis Data (11/13/2021)
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Development
Salta , Argentina
Lindero
100%
3,500
Open Pit
show
Production scheduled for Q1 2015 at 110,000 oz per year. Cash cost should be below $800. Forecasted to be $650. All-In Costs should be below $1200 and perhaps below $1000. 3 million oz deposit (.5 gpt).
Exploration
Argentina
Arizaro
100% (guess)
n/a
Open Pit
show
Part of the Lindero property. Only 15% of the property has been explored. They will likely find more gold to extend the mine life.
Development
West Africa , Burkina Faso
Yaramoko
100%
16,700
n/a
show
1 million oz deposit. Very high grade (avg 13 gpt). Feasibility study due in Q2 2014.
100,000 oz per year for 10+ years.
Low cash costs, very economic.
Exploration
West Africa , Burkina Faso
Bissa West
90%
3,800
n/a
show
Likely their second mine, but still early exploration.
Exploration
West Africa , Burkina Faso
Solna
100%
37,000
n/a
show
Their largest property. Early exploration.
Exploration
West Africa , Cote d'Ivoire
Seguela
100% (guess)
300,000
n/a
show
500,000 oz at 2.4 gpt
Still early exploration
Production
Oaxaca , Mexico
San Jose
100%
n/a
Underground
show
4.5 million oz of production in 2015.
Including Trinidad North, 85 million oz deposit (150 gpt).
Production
Arequipa , Peru
Caylloma
100%
n/a
Underground
show
2 million oz of production in 2015
44 million oz deposit (150 gpt)
Total Land Package Size (ha):
361,000
Current Data
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Development
Salta , Argentina
Lindero
100%
3,500
Open Pit
show
Production scheduled for Q1 2015 at 110,000 oz per year. Cash cost should be below $800. Forecasted to be $650. All-In Costs should be below $1200 and perhaps below $1000. 3 million oz deposit (.5 gpt).
Exploration
Argentina
Arizaro
100% (guess)
n/a
Open Pit
show
Part of the Lindero property. Only 15% of the property has been explored. They will likely find more gold to extend the mine life.
Development
West Africa , Burkina Faso
Yaramoko
100%
16,700
n/a
show
1 million oz deposit. Very high grade (avg 13 gpt). Feasibility study due in Q2 2014.
100,000 oz per year for 10+ years.
Low cash costs, very economic.
Exploration
West Africa , Burkina Faso
Bissa West
90%
3,800
n/a
show
Likely their second mine, but still early exploration.
Exploration
West Africa , Burkina Faso
Solna
100%
37,000
n/a
show
Their largest property. Early exploration.
Exploration
West Africa , Cote d'Ivoire
Seguela
100% (guess)
300,000
n/a
show
500,000 oz at 2.4 gpt
Still early exploration
Production
Oaxaca , Mexico
San Jose
100%
n/a
Underground
show
4.5 million oz of production in 2015.
Including Trinidad North, 85 million oz deposit (150 gpt).
Production
Arequipa , Peru
Caylloma
100%
n/a
Underground
show
2 million oz of production in 2015
44 million oz deposit (150 gpt)
Total Land Package Size (ha):
361,000
Profitability (by resource)
Proven & Probable
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
85.84%
100.00%
n/a
14.16%
Percentage Silver:
14.16%
n/a
n/a
-14.16%
Total (Gold Eq. Oz.):
4.31M
4.00M
n/a
-0.31M
Total (Silver Eq. Oz.):
317.71M
n/a
n/a
17.48M
P L A U S I B L E
Gold Eq. Oz.:
3.69M
3.40M
n/a
-0.29M
Silver Eq. Oz.:
272.31M
n/a
n/a
12.61M
Maximum Profit (Gold):
$3,404.62M
$2,996.42M
n/a
$-408.20M
Maximum Profit (Silver):
$876.87M
n/a
n/a
$-876.87M
Total Maximum Profit:
$4,281.49M
$2,996.42M
n/a
$-1,285.07M
Max Profit / Current MCap:
3.728
2.902
n/a
-0.827
Max Profit Per Share (Gold):
$11.47
$10.10
n/a
$-1.38
Max Profit Per Share (Silver):
$2.95
n/a
n/a
$-2.95
Total Max Profit Per Share:
$14.43
$10.10
n/a
$-4.33
Total Free Profit Per Share:
$10.56
$6.62
n/a
$-3.94
FD Mkt. Cap / Gold Eq.:
$310.84
$303.73
n/a
$-7.12
FD Mkt. Cap / Silver Eq.:
$4.22
$3.62
n/a
$-0.59
FD Mkt. Cap / Per Metal as % Spot Price:
16.66%
16.39%
n/a
-0.28%
Measured & Indicated
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
86.76%
100.00%
n/a
13.24%
Percentage Silver:
13.24%
n/a
n/a
-13.24%
Total (Gold Eq. Oz.):
4.61M
5.00M
n/a
0.39M
Total (Silver Eq. Oz.):
339.82M
n/a
n/a
79.16M
P L A U S I B L E
Gold Eq. Oz.:
3.90M
4.08M
n/a
0.18M
Silver Eq. Oz.:
287.34M
n/a
n/a
54.55M
Maximum Profit (Gold):
$3,625.46M
$3,595.70M
n/a
$-29.76M
Maximum Profit (Silver):
$876.87M
n/a
n/a
$-876.87M
Total Maximum Profit:
$4,502.33M
$3,595.70M
n/a
$-906.62M
Max Profit / Current MCap:
3.920
3.482
n/a
-0.439
Max Profit Per Share (Gold):
$12.22
$12.12
n/a
$-0.10
Max Profit Per Share (Silver):
$2.95
n/a
n/a
$-2.95
Total Max Profit Per Share:
$15.17
$12.12
n/a
$-3.06
Total Free Profit Per Share:
$11.30
$8.64
n/a
$-2.67
FD Mkt. Cap / Gold Eq.:
$294.58
$253.11
n/a
$-41.47
FD Mkt. Cap / Silver Eq.:
$4.00
$3.02
n/a
$-0.98
FD Mkt. Cap / Per Metal as % Spot Price:
15.79%
13.65%
n/a
-2.14%
Reserves & Resources
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Percentage Gold:
81.56%
100.00%
n/a
18.44%
Percentage Silver:
18.44%
n/a
n/a
-18.44%
Total (Gold Eq. Oz.):
5.52M
6.00M
n/a
0.48M
Total (Silver Eq. Oz.):
406.68M
n/a
n/a
96.11M
P L A U S I B L E
Gold Eq. Oz.:
4.29M
4.51M
n/a
0.21M
Silver Eq. Oz.:
316.50M
n/a
n/a
61.00M
Maximum Profit (Gold):
$3,855.50M
$3,970.26M
n/a
$114.75M
Maximum Profit (Silver):
$1,169.15M
n/a
n/a
$-1,169.15M
Total Maximum Profit:
$5,024.66M
$3,970.26M
n/a
$-1,054.40M
Max Profit / Current MCap:
4.375
3.845
n/a
-0.531
Max Profit Per Share (Gold):
$12.99
$13.38
n/a
$0.39
Max Profit Per Share (Silver):
$3.94
n/a
n/a
$-3.94
Total Max Profit Per Share:
$16.93
$13.38
n/a
$-3.55
Total Free Profit Per Share:
$13.06
$9.90
n/a
$-3.16
FD Mkt. Cap / Gold Eq.:
$267.44
$229.23
n/a
$-38.21
FD Mkt. Cap / Silver Eq.:
$3.63
$2.74
n/a
$-0.89
FD Mkt. Cap / Per Metal as % Spot Price:
14.34%
12.37%
n/a
-1.97%
Future Valuation (Cash Flow & Totals)
Defaults
Defaults
11/13/2021 Last Analysis Data
Current Data
Change
Item
Value
Value
Updated
Value
Spot Gold:
$1,865.50
$1,853.60
05/29/2022
$-11.90
Spot Silver:
$25.31
$22.12
05/29/2022
$-3.19
Gold:Silver Ratio:
73.71
83.80
05/29/2022
10.09
Spot Gold (Future):
$2,500.00
$2,500.00
$0.00
Spot Silver (Future):
$100.00
$100.00
$0.00
Gold:Silver Ratio (Future):
25.00
25.00
0.00
Gold Cash Cost:
$750.00
$750.00
$0.00
Gold Extra Operating Cost:
$350.00
$350.00
$0.00
Gold Avg. Recovery Rate:
75.00%
75.00%
0.00%
Silver Cash Cost:
$10.00
$10.00
$0.00
Silver Extra Operating Cost:
$6.00
$6.00
$0.00
Silver Avg. Recovery Rate:
75.00%
75.00%
0.00%
Plausibility of P & P:
100.00%
100.00%
0.00%
Plausibility of M & I:
80.00%
80.00%
0.00%
Plausibility of Inferred:
50.00%
50.00%
0.00%
Tax Rate:
30.00%
30.00%
0.00%
Tax Rate (Future):
40.00%
40.00%
0.00%
Future Valuation Multiplier:
15.00%
15.00%
0.00%
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