Vom Explorer zum Produzenten in 14 Monaten - Fortuna Silver hat\'s geschafft! (Seite 229)

[andale1]

Fortuna Announces Drill Results From Soledad and Silvia Veins at the Caylloma Mine, Peru


9:01 AM ET, August 19, 2008



VANCOUVER, BRITISH COLUMBIA, Aug 19, 2008 (Marketwire via COMTEX) -- Fortuna Silver Mines Inc. (FVI)(BVL:FVI) is pleased to announce the results from drilling of the Soledad and Silvia veins located in the northeastern portion of the Caylloma District, Arequipa, Peru. The Soledad and Silvia veins are located in proximity to and are sub-parallel to the San Cristobal and Santa Cata veins which were extensively mined for high grade silver ores from the 16th to 20th centuries.

Four drill holes totaling 827.9 meters have been completed to-date from underground drill stations. Highlights of the results include:

- Drill hole STCM000808 intersected 1937 g/t Ag and 1.89 g/t Au over a true thickness of 1.2 meters from 117.1 m.

- Drill hole STCM000507 intersected 548 g/t Ag and 1.51 g/t Au over a true thickness of 1.3 meters from 116.5 m.

Length-weighted assay averages for the drill holes are summarized in the table below. True thicknesses are estimated to be equal to the drill interval as all drill holes were drilled perpendicular to the mineralized structures.




---------------------------------------------------------------------------
From To Int Ag Au Pb Zn Cu
Hole Id. (m) (m) (m) (g/t) (g/t) (%) (%) (%) Vein
---------------------------------------------------------------------------
STCM000507 116.5 117.8 1.3 548 1.51 0.68 2.04 0.21 Soledad
256.6 257.2 0.6 141 0.17 4.85 5.40 1.01 Silvia
STCM000608 77.2 77.7 0.5 264 0.78 0.41 1.07 0.30 Soledad
139.3 142.1 2.8 142 0.12 3.16 3.47 0.63 Silvia
STCM000708 86.3 88.0 1.7 159 0.47 0.41 1.39 0.09 Soledad
140.8 143.7 2.9 167 0.13 3.94 3.20 1.56 Silvia
STCM000808 117.1 118.3 1.2 1937 1.89 0.56 1.21 0.08 Soledad
174.7 175.5 0.8 493 0.58 1.06 2.48 0.25 Silvia
---------------------------------------------------------------------------








The Company is currently extending underground access to the Soledad and Silvia veins to further evaluate the mineralization and to delineate resources and reserves. The underground development program for these veins is scheduled to be concluded this year.

Background

The silver and base metal-rich Caylloma district is located in the Tertiary volcanic belt of southern Peru. Intermediate-sulfidation epithermal mineralization is present in vein systems hosted by andesitic volcanic and volcaniclastic rocks overlying a Jurassic-age sedimentary basement. The Caylloma Mine was purchased by Fortuna Silver in 2005 and returned to production in October of 2006. Fortuna currently operates the 100% owned Caylloma Pb-Zn-Ag Mine at a nominal rate of 900 to 1000 tpd with production sourced primarily from the Animas Vein.

Fortuna holds exploration and mining rights to concessions covering approximately 13,800 hectares in the Caylloma area. Exploration activities include testing of high grade silver and base metal targets within the Caylloma District and reconnaissance evaluation of surrounding properties to identify opportunities warranting more advanced exploration and development.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond saw. One half of the core is submitted to the ALS Chemex sample preparation facility in Lima, Peru. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for base metals by atomic absorption methods utilizing an aqua regia digestion. Multi-element analyses are also completed for each sample by ICP methods. The QA-QC program at Caylloma includes the blind insertion of certified reference standards at a frequency of approximately 1 per 15 normal samples and the insertion of assay blanks at a frequency of approximately 1 per 15 normal samples. Drill results reported in this news release correspond to NQ- and BQ-diameter core.

Qualified Person

Mr. Gregory Smith, P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101 and is responsible for the accuracy of the technical information in this news release.

Fortuna Silver

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Principal assets include the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gold Project in Mexico. The Company is aggressively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge Alberto Ganoza Durant, President, CEO and Director

Fortuna Silver Mines Inc.

[andale1]

Fortuna Reports Net Income of $2.39 Million, Revenue of $7.85 Million, and Operating Cash Flow of $4.14 Million for 2Q 2008

9:02 AM ET, August 18, 2008



VANCOUVER, BRITISH COLUMBIA, Aug 18, 2008 (MARKET WIRE via COMTEX) -- Fortuna Silver Mines Inc. (FVI)(BVL: FVI) reports it has filed its financial statements for the six months ended June 30, 2008. The financial statements are available on SEDAR and have been posted on the Company's website at www.fortunasilver.com.

Second quarter 2008 highlights:

- Net income of $2.39 million, operating income of $0.71 million, and mine operating income of $2.89 million.

- Revenue of $7.85 million for the quarter and $14.68 million for the semester.

- Quarterly operating cash flow of $4.14 million.

- Working capital US$55.76 million and cash position of US$46.61 million.

- Metal production: 186,276 oz of silver, 2,629 MT of zinc, and 1,633 MT of lead. Up 56%, 64%, and 72% respectively over the same period of 2007.

- The Caylloma mine already operating at permitted capacity of 1,050 tonnes per day, with an increase in throughput of 26% over the same period of 2007.

- 33,000 meter drill program underway at San Jose.

Financial Results

During the second quarter of 2008 the Company generated $7.85 million of sales compared to $8.80 million in the same period of 2007. With respect to the first semester of 2008 the Company generated $14.68 million compared to $14.54 million in the same period of 2007. In US dollar terms however, which is the currency under which sales take place, there was an increase of 13.5% in sales for the semester compared to the previous year. Higher concentrate tonnage sales of 65% with respect to the same period of 2007 were weighted down in terms of sales value by a combination of lower realized zinc prices and an increment in smelter treatment charges.

Operating income for the first semester of 2008 was $1.03 million after deducting $0.63 million of stock-based compensation charges, where operating income solely for the Caylloma mine was $3.04 million.

Positive cash settlements from the Company's base metal hedging programme for the first semester of 2008 amounted to US$0.73 million.

Net cash provided from operating activities before changes in working capital for the first semester of 2008 amounted to $4.80 million. The Company's cash position and working capital as at June 30, 2008 stands at $46.61 million and $55.76 million respectively.

Operating Results

During the second quarter of 2008, the Company's Caylloma mine had its sixth consecutive quarter of production growth achieving 186,276 oz of silver production, which yields an increase of 33% and 56% with respect to the previous quarter and the same period in 2007 respectively. Silver production for the third quarter of 2008 is expected to be above 200,000 oz. Record throughput above 1,000 tpd was achieved early in July 2008 and the Company expects to maintain the full permitted average capacity for the plant of 1,050 tpd from August 2008 onwards.

The polymetallic Animas vein currently sources almost all mill feed. Development and preparation on four silver rich veins (San Cristobal, Bateas, Soledad, and Silvia) is currently underway with the objective of providing a high silver grade component of around 20% to the overall mine feed. Mining at San Cristobal is planned to commence sourcing the mill in September 2008 at a rate of 500 tonnes per month with grades of 12 oz/t with a later ramp up to 2,000 tonnes per month beginning April 2009. The mine plan for the other three structures will be laid out in the coming months as continued mine development allows the conversion from resources to reserves.

Cash production cost per tonne for the second quarter of 2008 was US$46.92 and the corresponding unit net smelter return (NSR) was US$97.79.

Mexico - San Jose Silver-Gold Project

A 33,000 meter drill program was initiated in the month of June. Currently there are two drill rigs working on the project with two additional rigs expected to arrive on the property by early September. The Company expects to provide a comprehensive project update in the coming weeks.

Background

Fortuna is a growth-oriented silver and base metal producer focused on mining opportunities in Latin America. The Company's primary assets are the Caylloma Silver-Base Metals Mine in southern Peru and the San Jose Silver-Gold Project in Mexico. The Company is aggressively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge Alberto Ganoza Durant, President, CEO and Director

Fortuna Silver Mines Inc.

[kirst]

Für mich klingt die Übernahme von Continuum vor allem langfristig sinnvoll und der Preis nicht zu hoch. Mal schaun wie es in CAN aufgenommen wird...

Gruß
kirst

[HGDM]

Die kleinen werden von den Großen gefressen.

[andale1]

Aug 14, 2008

Fortuna Silver Mines To Acquire Continuum Resources And 100% Of San Jose Project,

August 14, 2008: Fortuna Silver Mines Inc. and Continuum Resources Ltd. are pleased to announce that an agreement has been reached whereby Fortuna will acquire (the "Acquisition") all of the issued and outstanding securities of Continuum. The shares of both companies are listed on the TSX Venture Exchange.

The companies currently hold jointly the San Jose Project in Mexico (Fortuna 76%; Continuum 24%). As a result of the Acquisition, Fortuna will own 100% of the Project, thus strengthening its position in that country.

Continuum has 124,052,503 shares outstanding, and Fortuna will issue to the Continuum shareholders a total of 7.0 million shares, which is an exchange ratio of approximately 0.0564 of a share of Fortuna for every one Continuum share held. Stock options in Continuum held by non-insiders totaling 285,000 shares will be converted to options to purchase Fortuna shares, at the same ratio. No other rights to purchase Continuum shares will be outstanding at closing of the Acquisition.

The Acquisition is subject to regulatory and other approvals on behalf of both companies, and the recently announced private placement financing of Continuum has been cancelled. There will be no change of control or management of Fortuna.

Management of Fortuna and Continuum believe that the single stronger entity resulting from the Acquisition will be of significant benefit to the shareholders of both companies.

ON BEHALF OF THE BOARD
OF FORTUNA SILVER MINES INC.
"Simon Ridgway"
Simon Ridgway, Chairman

[HGDM]

Was ist denn nun los -14%

[freddykrger]

WASSSSSSSSSSSSSSSSS nur noch 8 cent....

[HGDM]

Der Markt spielt z.Z. verrückt es wird alles verkauf, egal ob gute oder schlechte Nachrichten.

[RAINBOWSIX]

Es gibt keine fundamentalen Änderungen...bin hier seit Beginn investiert und imho sieht es nach wie vor blendend aus!!!

Rain

[olli_2008]

Antwort auf Beitrag Nr.: 34.430.407 von Grenzenlos am 03.07.08 14:20:12

Hallo, ich bin neu hier.Bin seit 4 Monaten investiert und steh fassungslos vor dem Sinkflug des Kurses. Hat femand nähere Informationen?
Ölli