Fortuna’s Silver Sales Up 44 Percent in Q2 2014

Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) announced its consolidated financial results for the second quarter of 2014, commenting that its revenue came to $44.3 million, while its net income was $2.9 million.

Other Q2 highlights include:

• Cash flow from operations before changes in non-cash working capital of $15.1 million and cash flow per share of $0.12
• Treasury (cash position, including short term investments) and working capital as at June 30, 2014 were $60.2 million and $73.3 million, respectively
• Silver and gold production of 1,630,422 ounces and 8,519 ounces, respectively
• Cash cost per ounce of payable silver was $5.15
• All-in sustaining cash cost per ounce of payable silver was $17.41

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

Financial results for the second quarter reflect our continued emphasis on free cash flow generation through organic growth and cost control. We have delivered a consolidated all-in sustaining cash cost of $17.41 per ounce of silver, a reduction of twenty one percent compared to the previous year, and year to date our treasury plus trade receivables have increased by over $20 million.

At San Jose, our attention remains centered on laying out the next phase of organic growth as our step-out drilling campaign at Trinidad North continues to expand the new high-grade mineralized zone.

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