2024-03-19 12:11:53 ET
Summary
- Fortuna Silver Mines Inc. had a satisfactory year overall, with production coming in above expectations at its new Seguela Mine.
- However, higher costs at its Lindero and San Jose mines resulted in full-year all-in sustaining costs per gold-equivalent ounce coming in well above the industry average.
- In this update we'll dig into the Q4 and FY2023 results, recent developments, and if the stock is attractive at current levels.
The Q4 Earnings Season for the Gold Miners Index ( GDX ) is nearly over, and one of the most recent companies to report its results was Fortuna Silver Mines Inc. ( FSM ). The company had a solid year overall, with its new Seguela Mine starting up on schedule and with production coming in above expectations with ~78,600 ounces produced at industry-leading all-in sustaining costs [AISC] of $760/oz. Unfortunately, this was offset by higher costs at its Lindero and San Jose mines, resulting in full-year all-in sustaining costs per gold-equivalent ounce [GEO] coming in above the industry average for another consecutive year. In this update, we'll dig into the Q4 and FY2023 results , recent developments, and see if the stock is attractive at current levels....
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For further details see:
Fortuna Silver Mines: A Phenomenal First Year For Seguela