- Fortuna Silver released its Q4 and FY2020 results on Wednesday, with silver production down 19% year over year due to lower grades and temporary shutdowns at Caylloma and San Jose.
- Fortunately, higher metals prices easily offset the decreased output, with free cash flow doubling year over year to $78.9 million.
- Looking ahead to FY2021, we should see a much different year now that Lindero is online, with FY2021 gold production guidance of 190,000 ounces at the midpoint.
- Based on Fortuna's industry-leading earnings growth, and improving free cash flow which will allow the company to focus on exploration, I would view any dips below $6.30 as low-risk buying opportunities.
For further details see:
Fortuna Silver: Industry-Leading Earnings Growth In FY2021