Fortuna Silver Mines Reports Q3 Net Income of $2.6 Million

Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) released its consolidated financial results for the third quarter of 2015, commenting that its net income came to $2.6 million, or $0.02 per share. Meanwhile, sales totaled $39 million.
Other consolidated financial highlights include:

• Cash flow from operations, before changes in working capital of $7.7 million and cash flow per share of $0.06
• EBITDA of $11.5 million
• Cash position, including short term investments, and working capital as at September 30, 2015 were $109.9 million and $112.6 million, respectively
• Silver and gold production of 1,734,842 and 10,963 ounces, respectively
• Cash cost per ounce of payable silver, net of by-product credits was $3.58
• AISCC* per ounce of payable silver was $13.79

* All-in sustaining cash cost is net of by-product credits for gold, lead and zinc

Jorge A. Ganoza, president and CEO of Fortuna Silver Mines, commented:

Our operation at San Jose continues to outperform, enabling the company to sustain positive financial results amidst an extremely challenging metal price environment. Our teams continue to focus on running our operations efficiently, optimizing mine plans and increasing margins per tonne.With the commissioning of the San Jose expansion to 3,000 tpd in mid-2016, the company will further improve its operating margins and cash flow generation.

Click here to read the full Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) press release.