FVI:CC - Fortuna Silver's full-year gold production jumps while silver slides

Fortuna Silver Mines ( NYSE: FSM ) reported Tuesday that FY 2022 gold production jumped 25% Y/Y to 259,427 oz, but full-year silver output fell 8% to slightly more than 6.9M oz, with both trends expected to continue in 2023.

The company said full-year gold equivalent oz came in at a company record high of 401,878 oz.

Fortuna ( FSM ) said its Lindero operation in Argentina "continues capturing productivity gains and demonstrating a stable production performance delivering a 14% increase in gold production," while Caylloma delivered higher annual silver and lead production due to higher throughput and head grades, and San Jose delivered total silver production of 5.8 million oz, hitting the upper range of annual guidance.

For FY 2023, Fortuna ( FSM ) issued guidance for gold production of 282K-320K oz, up 9%-23% over 2022; silver output of 6.3M-6.9M oz, a projected decrease of up to 9%; and gold equivalent production of 412K-463K oz, which would translate to an increase of 3%-15%.

Fortuna Silver ( FSM ) recently reported solid ounce additions at Sunbird and continues to see exploration success with regional drilling at Seguela, suggesting the potential for a larger operation there, Taylor Dart writes in an analysis posted recently on Seeking Alpha .

For further details see: