Fortuna Silver Mines Beats Guidance with Record Gold and Silver Production in 2012

Fortuna Silver Mines Inc. (NYSE:FSM,TSX:FVI) announced their 2012 results, including revenues of $161 million and net income of $31.5 million for the year and record gold and silver production that beat estimates.

As quoted in the press release:

 Record silver and gold production for the year increased to a record 3,987,757 ounces and 20,699 ounces, respectively, at a consolidated cash cost per ounce, net of by-product credits, of $5.96.

Fortuna’s President and CEO, Jorge A. Ganoza, said:

Our robust financial performance in 2012 reflects Fortuna’s record silver and gold production, which exceeded guidance by 8% and 19%, respectively, as well as the company’s low-cost metal delivery.  Our 2012 consolidated cash cost per ounce of silver, net of by products, of $5.96, once again positions Fortuna as one of the lowest cost silver producers in the industry.

To view the whole press release, click here.