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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.
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.