SlideShare ist ein Scribd-Unternehmen logo
1 von 24
Downloaden Sie, um offline zu lesen
San Jose Mine, 
                               Mexico




www.fortunasilver.com   April 2013
Regulatory Disclaimer
Certain statements in this presentation constitute forward‐looking statements and as such are
based on an assumed set of economic conditions and courses of action. These include
estimates of future production levels, expectations regarding mine production costs, expected
trends in mineral prices and statements that describe Fortuna’s future plans, objectives or
goals. There is a significant risk that actual results will vary, perhaps materially, from results
projected depending on such factors as changes in general economic conditions and financial
markets, changes in prices for silver and other metals, technological and operational hazards in
Fortuna’s mining and mine development activities, risks inherent in mineral exploration,
uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal
recoveries, the timing and availability of financing, governmental and other approvals, political
unrest or instability in countries where Fortuna is active, labor relations and other risk factors.

Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna Silver
Mines Inc. as defined by National Instrument 43‐101. Dr. Vehrs is a Founding Registered
Member of The Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member
Number 3323430RM) and is responsible for ensuring that the information contained in this
presentation is an accurate summary of the original reports and data provided to or developed
by Fortuna Silver Mines.




                                                                                                      2
Vision
           To be valued by our workers, the community and our 
shareholders as a leading silver mining company in Latin America

                                                         Caylloma Mine,
                                                                   Peru



                                                                    3
Core Assets
Operating and exploring in the Americas


Production
 San Jose Mine, Mexico
 Caylloma Mine, Peru

Exploration
 Exploring in Mexico and Peru; two 
  largest silver producing countries in 
  the world
 51,000 meter drill program in 2013 




                                           4
Company Snapshot
  Strong balance sheet                                                                         Share structure (as of Mar 20 )                             th          Exchanges
             US$64.7 million in cash (Q4 2012)                                                 Outstanding: 125.3 million
             US$20 million undrawn credit facility                                             Fully diluted: 131.4 million
             No long term debt
             No hedging
                                                          Relative performance (%) of FVI & SLV

                                                                                       FVI‐T                  SLV                                                           Frankfurt: F4S.F
                                                                                                                                                                     170%
               5.60                                                                                                                                                  160%
                                                                                                                                                                     150%
               5.10




                                                                                                                                                                                  Performance %
                                                                                                                                                                     140%
Share Price




                                                                                                                                                                       126%
               4.60                                                                                                                                                  130%

               4.10                                                                                                                                                  120%
                                                                                                                                                                     110%
               3.60                                                                                                                                                        103%
                                                                                                                                                                     100%
               3.10                                                                                                                                                  90%
                      6/29/2012



                                  7/29/2012



                                              8/28/2012



                                                              9/27/2012



                                                                          10/27/2012



                                                                                                 11/26/2012



                                                                                                                    12/26/2012



                                                                                                                                 1/25/2013



                                                                                                                                             2/24/2013



                                                                                                                                                         3/26/2013
                                                                                                                                                                                                  5
Proven Mine Builders and Operators
     Senior Management




 Jorge A. Ganoza        Dr. Thomas I. Vehrs           Cesar Pera          Luis Dario Ganoza        Manuel Ruiz‐Conejo        Robert Brown
    President,            Vice President,          Vice President,          Chief Financial          Vice President,         Vice President, 
 CEO and Director          Exploration          Human & Organizational          Officer                Operations              Corporate 
                                                    Development                                                              Development

Co‐founder of           Over 35 years                Over 25 years          Over 15 years           Over 25 years          20 years experience in 
Fortuna. Peruvian       experience managing          experience in          experience in the       experience in the      exploration, project 
geological engineer.    exploration                  organizational         operations and          execution of multi‐    development and 
Identified and          programs in the              development            financial               million dollar         finance. Former CEO 
negotiated purchase     Americas. Tom also           and change in          management of           mining projects and    of Calibre Mining 
of Caylloma, built      serves as an                 Latin American         public mining           the implementation     Corp. and senior 
 the Fortuna team.      independent director         companies.             companies. Luis         of community           manager at Barrick 
Jorge also serves as    for AQM Copper Inc.                                 also serves as a        relations programs.    Gold in exploration 
Chairman of the                                                             Director of Atico                              and business 
Board of Atico                                                              Mining Corporation,                            development.
Mining Corporation,                                                         TSX.V: ATY
TSX.V: ATY 



                                                                                                                                            6
Proven Mine Builders and Operators
Board of Directors

  Simon Ridgway
  Chairman of the Board        Robert R. Gilmore                    Mario Szotlender                  Tomas Guerrero

Co‐founder of Fortuna.         30 years of experience working       Co‐founder of Fortuna.            Geological engineer with 
Vancouver‐based mining         with resource companies and          Financier, businessman            over 30 years experience.  
financier. Also founded        currently serves as Chairman of      and Director of Radius            Served as Director of 
Focus Ventures, Radius         the Board for Eldorado Gold          Gold, Endeavour Silver,           Explorations for the 
Gold, Mar West Resources       Corporation and as a Director for    Magellan, Focus Ventures          Hochschild Group.
and Northland Resources.       Layne Christensen Company.           and Iron Creek.




Jorge A. Ganoza
President and CEO              Thomas Kelly                         Michael Iverson

Co‐founder of Fortuna.         36 years of experience in mine       Chief Executive Officer of Fortuna 
Peruvian geological            production, minerals industry        from 1998 to January 2005. 
engineer. Identified and       consulting and corporate             President and Director of Niogold 
negotiated purchase of         management in various Latin          Mining Corp. since 1998.
Caylloma, built the Fortuna    American countries; currently 
team. Jorge also serves as     serves as CEO of Apurimac Ferrum, 
Chairman of the Board of       a private company developing iron 
Atico Mining Corporation,      ore assets in Peru.
TSX.V: ATY


                                                                                                                            7
Key Milestones
   Foundations of a Leading Silver Mining Company
                                                                                                                                         Commissioning 
                                                                                                                                          of 1,500 tpd
                                                                                                                            Plant         expansion at 
                                                                                                                        expansion to        San Jose  
                                                                                                      Shares begin       1,500 tpd at 
                                                                                                       trading on       San Jose mine
                                                                                     Shares begin         NYSE
                                                                                    trading on TSX
                                                                   Acquired 100% 
                                                                                                       Commenced 
                                                                     interest in      Reported
                                                   Shares begin                                        commercial 
                                                                      San Jose         positive 
                                                     trading                                          production at 
                                                                       project      pre‐feasibility
                                   Successful        on BVL                                           San Jose mine, 
                                   drilling  at                                        study at        on time and 
                Commenced                                          Received EIS       San Jose
                                    San Jose        Increased                                           on budget
                production at                                      approval and 
                                  significantly       silver 
  Company       Caylloma on                                         permits for        Started 
                                   increased       production
 established     time and on                                         San Jose       construction 
                                     Ag Eq            by 85% 
                    budget         resources                                         of San Jose 
Shares trade                                                         Increased          mine
on the TSX.V    Acquired stake                                         silver 
                      in                                            production        Increased 
  Acquired         San Jose                                           by 96%            silver 
Caylloma mine       project                                                          production
                                                                                        by 13%


 2005               ‘06             ‘07              ‘08              ‘09              ‘10                ‘11              ‘12            2013


                                                                                                                                                 8
Emergence of a Leading Silver Mining Company
Increasing Exposure to Precious Metals
                                                               Ag Production                                          4.9
             5.0
                                                                                                             4.4
             4.5                                                                              4.0
             4.0
             3.5
             3.0                                                             2.5
      M oz




             2.5
                                                             1.9
             2.0                            1.7
             1.5
             1.0            0.8
                    0.4
             0.5
             0.0
                   2007    2008            2009             2010            2011             2012           2013E    2014E


                                                                   Au Production
      30,000
                                                                                                                     26,000
      25,000                                                                                                23,300
                                                                                            20,700
      20,000
 oz




      15,000

      10,000                                                                6,900
       5,000       3,300                   2,400           2,600
                           2,200
              0
                   2007    2008            2009             2010            2011             2012           2013E    2014E

                             2013 base metal revenue estimate = US$30M; Pb = US$2,100/t & Zn = US$2,000/t


                                                                                                                              9
Financial Snapshot
Strong financial performance


         Revenue US$ [millions]                                  Operating Income US$ [millions]

                                                                                               45.2      43.9
                                        181.8                                       38.1
                             161.0
                                                                         27.7
                  110.0

        74.1                                                  14.4
 51.4



 2009   2010        2011       2012       2013E               2009        2010       2011       2012     2013E




               2013 forecast:  Ag = US$30.00/oz, Au = US$1,700/oz, Pb = US$2,100/t and Zn = US$2,000/t

                                                                                                                 10
Financial Snapshot
Strong cash flow and sustainable growth

        Cash Flow Per Share US$                                   Earnings Per Share US$ 

 0.18                                            0.14

 0.16
                                                 0.12
 0.14
                                                 0.10
 0.12

 0.10                                            0.08

 0.08                                            0.06
 0.06
                                                 0.04
 0.04
                                                 0.02
 0.02

   ‐                                               ‐
        Q1 2012   Q2 2012   Q3 2012   Q4 2012           Q1 2012     Q2 2012   Q3 2012   Q4 2012




                                                                                                  11
Project Pipeline
                             San Jose Mine
                                                PRODUCTION
                             Caylloma Mine


                                                      DEVELOPMENT PROJECTS

                                                Trinidad 
                  Carolina        Don Luis
                                                 North
                  San Pedro Oeste, Cross                       DRILL TARGETS
                                                Animas NE
                  Lode, El Toro, Trinidad


           Cerro Vilafro, 
           Vilafro Sur
                                   Cailloma 6         Los Ocotes   EARLY STAGE

                         Over 95,600 hectares                         LAND 
                                                                       PACKAGE

                                                                               12
San Jose Mine, Mexico
               Overview
                   Commodities          Silver, gold
                     Operation          1,050 tpd underground mine 
                    Reserve Life        9 Years
                                        Taviche Mining District,  
                          Location
                                        Oaxaca, Mexico
                     Ownership          100%
                                        High‐grade, low sulphidation
                   Deposit type
                                        epithermal vein deposit
               2013E cash cost/t        US$70


        3,500                Ag Production                24,000          Au Production
        3,000
                                                          20,000
        2,500
        2,000                                             16,000
k oz




                                                    oz




        1,500                                             12,000
        1,000
                                                           8,000
         500
           ‐                                               4,000
                   2011     2012     2013    2014                  2011     2012   2013   2014
                                       Forecasts                                    Forecasts


                                                                                                 13
San Jose Mine, Mexico
Solid reserve and resource base

                                                                                     Contained Metal
                                                    Tonnes        Ag         Au
                   Classification                    (000)       (g/t)      (g/t)      Ag         Au
                                                                                      (Moz)      (koz)

      Proven & Probable Reserves                     3,335       190        1.58       20.4      169.5
      Measured & Indicated Resources                   56         74        0.61       0.1        1.1
      Inferred Resources                             4,257       185        1.57       25.3      214.9


     Notes to Mineral Reserve and Mineral Resource tables prepared in accordance with NI 43 ‐ 101: 
      Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources 
       and Mineral Reserves
      Mineral Resources are exclusive of Mineral Reserves
      Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
      San Jose Mineral Resources & Mineral Reserves are reported as of December 31, 2012
      Refer to www.fortunasilver.com for full disclosure




                                                                                                                     14
San Jose Mine, Mexico
Bonanza vein longitudinal section




                                    15
San Jose Mine Brownfields Exploration 
Anomaly evaluation, mapping, sampling, target identification



 64,400 ha concession area
 US$7.5M 2013 exploration 
  budget




                                                               16
San Jose Brownsfields Exploration
Trinidad Longitudinal Section




                                    17
Caylloma Mine, Peru
Overview
        Commodities     Silver, gold, zinc, lead
          Operation     1,300 tpd underground mine 
         Reserve Life   8 Years
            Location    Arequipa, Peru                                 
          Ownership     100%
                        Intermediate sulfidation
         Deposit type
                        epithermal deposit
2013E cash cost/t       US$96


                             Ag Production
         2,000


         1,500
 k oz




         1,000


          500


            ‐
                 2011      2012          2013             2014
                                              Forecasts



                                                                          18
Caylloma Mine, Peru  
Solid reserve and resource base

                                                                                                   Contained Metal
                                               Tonnes       Ag         Au         Pb          Zn
            Classification                      (000)      (g/t)      (g/t)       (%)        (%)    Ag       Au
                                                                                                   (Moz)    (koz)

Proven & Probable Reserves                      4,308       130       0.37       1.52       2.15    17.9    51.1

Measured & Indicated Resources                  1,601       79        0.33       0.79       1.43    4.1     17.0

Inferred Resources                              6,633       101       0.27       1.84       2.58    21.5    58.5


Notes to Mineral Reserve and Mineral Resource tables prepared in accordance with NI 43 ‐ 101: 
 Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43‐101
 Mineral Resources are exclusive of Mineral Reserves
 Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
 Caylloma Mineral Resources and Mineral Reserves are reported as of December 31, 2012
 Refer to www.fortunasilver.com for full disclosure




                                                                                                                     19
Caylloma Mine Brownfields Exploration
   2013 Exploration Targets


 31,200 ha 
  concession area
 US$6.7M 2013 
  exploration budget




                                          20
Growth Strategy
Three‐pronged approach to create shareholder value

Maximize production,       Commissioning of San Jose expansion to 1,500 tpd by 3Q 2013
profitability and cash 
flow of current mines      Focus on operational efficiencies to reduce cash costs 



     Capitalize on         51,000 meter exploration program between Peru and Mexico
     brownfields 
                           Evaluating multiple Ag ‐ Au anomalies at San Jose
     exploration 
    opportunities          Commanding land packages in Peru and Mexico



                           Post discovery, pre‐development opportunities in the Americas     
  Pursue selective
                           Silver contribution of >50% of revenue
 M&A opportunities 
                           Below industry median for cash cost 




                                                                                            21
Community Relations Program
Forging strategic partnerships
 Programs are based on respect for ethno‐cultural diversity, open communication 
  and effective interaction with all stakeholders
 We work with communities towards self‐development of economically sustainable 
  activities to improve their quality of life




                                                                                22
Investment Highlights

   1   Emergence of a leading silver mining company in the Americas

   2   Proven mine developers and operators

   3   Strong cash flow and sustainable growth from existing mines

   4   Brownfields exploration upside

   5   Disciplined acquisition strategy




                                                                      23
Management Head Office
Carlos Baca
T: +51.1.616.6060, ext. 0
info@fortunasilver.com

Corporate Office
Holly Hendershot
T (Toronto): +1.647.725.0813
T (Vancouver): +1.604.484.4085


                            www.fortunasilver.com   April 2013

Weitere ähnliche Inhalte

Andere mochten auch

Reality Check: Accounting Alerts Every Investor Should Know by Olstein Funds
Reality Check: Accounting Alerts Every Investor Should Know by Olstein FundsReality Check: Accounting Alerts Every Investor Should Know by Olstein Funds
Reality Check: Accounting Alerts Every Investor Should Know by Olstein Fundsasianextractor
 
May 2016 Corporate Presentation - French
May 2016 Corporate Presentation - FrenchMay 2016 Corporate Presentation - French
May 2016 Corporate Presentation - Frenchmasongraphite
 
Mountainview Energy (TSX.V - MVW) Corporate Presentation
Mountainview Energy (TSX.V - MVW) Corporate Presentation Mountainview Energy (TSX.V - MVW) Corporate Presentation
Mountainview Energy (TSX.V - MVW) Corporate Presentation Viral Network Inc
 
Zimtu Capital Research & Opinion: Uranium Exploration in Canada's Athabasca ...
Zimtu Capital Research & Opinion:  Uranium Exploration in Canada's Athabasca ...Zimtu Capital Research & Opinion:  Uranium Exploration in Canada's Athabasca ...
Zimtu Capital Research & Opinion: Uranium Exploration in Canada's Athabasca ...Zimtu Capital Corp. (TSXv: ZC)
 
Protecting participants in human research
Protecting participants in human researchProtecting participants in human research
Protecting participants in human researchKarlos Svoboda
 
TurboGears2 Pluggable Applications
TurboGears2 Pluggable ApplicationsTurboGears2 Pluggable Applications
TurboGears2 Pluggable ApplicationsAlessandro Molina
 
Seafield Resources Ltd. - Corporate Presentation
Seafield Resources Ltd. - Corporate PresentationSeafield Resources Ltd. - Corporate Presentation
Seafield Resources Ltd. - Corporate Presentationsffresources
 
ELLE Canada article 2013
ELLE Canada article 2013ELLE Canada article 2013
ELLE Canada article 2013cf13
 
Terra x minerals - Corporate Presentation
Terra x minerals - Corporate Presentation Terra x minerals - Corporate Presentation
Terra x minerals - Corporate Presentation Company Spotlight
 
constellation energy 2006 Annual Report
constellation energy 2006 Annual Reportconstellation energy 2006 Annual Report
constellation energy 2006 Annual Reportfinance12
 
TerraX - Corporate Presentation - October 2014
TerraX - Corporate Presentation - October 2014TerraX - Corporate Presentation - October 2014
TerraX - Corporate Presentation - October 2014Company Spotlight
 
Aura Minerals Inc - Corporate Responsibility Report 2012
Aura Minerals Inc - Corporate Responsibility Report 2012Aura Minerals Inc - Corporate Responsibility Report 2012
Aura Minerals Inc - Corporate Responsibility Report 2012DeniseFlo
 

Andere mochten auch (19)

Reality Check: Accounting Alerts Every Investor Should Know by Olstein Funds
Reality Check: Accounting Alerts Every Investor Should Know by Olstein FundsReality Check: Accounting Alerts Every Investor Should Know by Olstein Funds
Reality Check: Accounting Alerts Every Investor Should Know by Olstein Funds
 
July
JulyJuly
July
 
May 2016 Corporate Presentation - French
May 2016 Corporate Presentation - FrenchMay 2016 Corporate Presentation - French
May 2016 Corporate Presentation - French
 
P Matte CV 2015
P Matte CV 2015P Matte CV 2015
P Matte CV 2015
 
Mountainview Energy (TSX.V - MVW) Corporate Presentation
Mountainview Energy (TSX.V - MVW) Corporate Presentation Mountainview Energy (TSX.V - MVW) Corporate Presentation
Mountainview Energy (TSX.V - MVW) Corporate Presentation
 
Bcsc Midlands
Bcsc MidlandsBcsc Midlands
Bcsc Midlands
 
Ktaby
KtabyKtaby
Ktaby
 
Zimtu Capital Research & Opinion: Uranium Exploration in Canada's Athabasca ...
Zimtu Capital Research & Opinion:  Uranium Exploration in Canada's Athabasca ...Zimtu Capital Research & Opinion:  Uranium Exploration in Canada's Athabasca ...
Zimtu Capital Research & Opinion: Uranium Exploration in Canada's Athabasca ...
 
Protecting participants in human research
Protecting participants in human researchProtecting participants in human research
Protecting participants in human research
 
TurboGears2 Pluggable Applications
TurboGears2 Pluggable ApplicationsTurboGears2 Pluggable Applications
TurboGears2 Pluggable Applications
 
Seafield Resources Ltd. - Corporate Presentation
Seafield Resources Ltd. - Corporate PresentationSeafield Resources Ltd. - Corporate Presentation
Seafield Resources Ltd. - Corporate Presentation
 
ELLE Canada article 2013
ELLE Canada article 2013ELLE Canada article 2013
ELLE Canada article 2013
 
El_VIOLIN
El_VIOLINEl_VIOLIN
El_VIOLIN
 
Terra x minerals - Corporate Presentation
Terra x minerals - Corporate Presentation Terra x minerals - Corporate Presentation
Terra x minerals - Corporate Presentation
 
constellation energy 2006 Annual Report
constellation energy 2006 Annual Reportconstellation energy 2006 Annual Report
constellation energy 2006 Annual Report
 
TerraX - Corporate Presentation - October 2014
TerraX - Corporate Presentation - October 2014TerraX - Corporate Presentation - October 2014
TerraX - Corporate Presentation - October 2014
 
Calgary Herald 151023
Calgary Herald 151023Calgary Herald 151023
Calgary Herald 151023
 
From the Desk of Tony Dutra
From the Desk of Tony DutraFrom the Desk of Tony Dutra
From the Desk of Tony Dutra
 
Aura Minerals Inc - Corporate Responsibility Report 2012
Aura Minerals Inc - Corporate Responsibility Report 2012Aura Minerals Inc - Corporate Responsibility Report 2012
Aura Minerals Inc - Corporate Responsibility Report 2012
 

Ähnlich wie Fortuna silverapr13presentation

Bloomberg presentation
Bloomberg presentation Bloomberg presentation
Bloomberg presentation athenatw
 
Avant Garde Wealth Mgmt - Quarterly letter - 1112
Avant Garde Wealth Mgmt - Quarterly letter - 1112Avant Garde Wealth Mgmt - Quarterly letter - 1112
Avant Garde Wealth Mgmt - Quarterly letter - 1112Gaurav Jalan
 
Fortuna Silver Mines December CP
Fortuna Silver Mines December CPFortuna Silver Mines December CP
Fortuna Silver Mines December CPCompany Spotlight
 
alcoa 2008 meeting presentation
alcoa 2008 meeting presentationalcoa 2008 meeting presentation
alcoa 2008 meeting presentationfinance8
 
Interface Slideshare
Interface SlideshareInterface Slideshare
Interface Slidesharebackedbybayer
 
Middle School Success
Middle School SuccessMiddle School Success
Middle School SuccessChristin007
 
Strix Applications Case Studies
Strix  Applications  Case StudiesStrix  Applications  Case Studies
Strix Applications Case Studiestritv
 
2011 Annual Report Corporate Section
2011 Annual Report Corporate Section2011 Annual Report Corporate Section
2011 Annual Report Corporate SectionRecticel NV/SA
 
Pmd investor presentation may 2012.v7
Pmd   investor presentation may 2012.v7Pmd   investor presentation may 2012.v7
Pmd investor presentation may 2012.v7PetroMagdalena
 
Automotive Thailand September 2012
Automotive Thailand September 2012Automotive Thailand September 2012
Automotive Thailand September 2012Uli Kaiser
 
Report abc company draft
Report abc company   draftReport abc company   draft
Report abc company draftAiiM Education
 
The Arab Region in the New Internet World
The Arab Region in the New Internet World The Arab Region in the New Internet World
The Arab Region in the New Internet World OneWebDay, Inc.
 
Bill Handel Discusses Loan Growth at Raddon’s CEO Forum
Bill Handel Discusses Loan Growth at Raddon’s CEO ForumBill Handel Discusses Loan Growth at Raddon’s CEO Forum
Bill Handel Discusses Loan Growth at Raddon’s CEO ForumRaddon Financial Group
 
Embraer Day 2012 (Melbourne) Defense
Embraer Day 2012 (Melbourne) DefenseEmbraer Day 2012 (Melbourne) Defense
Embraer Day 2012 (Melbourne) DefenseEmbraer RI
 
Raddon Chart of the Day October 2, 2012
Raddon Chart of the Day October 2, 2012Raddon Chart of the Day October 2, 2012
Raddon Chart of the Day October 2, 2012Raddon Financial Group
 
フォームを編集 [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメント
フォームを編集   [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメントフォームを編集   [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメント
フォームを編集 [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメントsachi_ade
 
Social Media Adoption
Social Media AdoptionSocial Media Adoption
Social Media AdoptionFrank Hamm
 
Mobile Marketing india
Mobile Marketing indiaMobile Marketing india
Mobile Marketing indiaKumar Gaurav
 
Mobile Marketing India
Mobile Marketing   IndiaMobile Marketing   India
Mobile Marketing IndiaSaumen Ray
 

Ähnlich wie Fortuna silverapr13presentation (20)

Bloomberg presentation
Bloomberg presentation Bloomberg presentation
Bloomberg presentation
 
Avant Garde Wealth Mgmt - Quarterly letter - 1112
Avant Garde Wealth Mgmt - Quarterly letter - 1112Avant Garde Wealth Mgmt - Quarterly letter - 1112
Avant Garde Wealth Mgmt - Quarterly letter - 1112
 
Fortuna Silver Mines December CP
Fortuna Silver Mines December CPFortuna Silver Mines December CP
Fortuna Silver Mines December CP
 
alcoa 2008 meeting presentation
alcoa 2008 meeting presentationalcoa 2008 meeting presentation
alcoa 2008 meeting presentation
 
Interface Slideshare
Interface SlideshareInterface Slideshare
Interface Slideshare
 
Middle School Success
Middle School SuccessMiddle School Success
Middle School Success
 
Strix Applications Case Studies
Strix  Applications  Case StudiesStrix  Applications  Case Studies
Strix Applications Case Studies
 
2011 Annual Report Corporate Section
2011 Annual Report Corporate Section2011 Annual Report Corporate Section
2011 Annual Report Corporate Section
 
Pmd investor presentation may 2012.v7
Pmd   investor presentation may 2012.v7Pmd   investor presentation may 2012.v7
Pmd investor presentation may 2012.v7
 
Automotive Thailand September 2012
Automotive Thailand September 2012Automotive Thailand September 2012
Automotive Thailand September 2012
 
Report abc company draft
Report abc company   draftReport abc company   draft
Report abc company draft
 
The Arab Region in the New Internet World
The Arab Region in the New Internet WorldThe Arab Region in the New Internet World
The Arab Region in the New Internet World
 
The Arab Region in the New Internet World
The Arab Region in the New Internet World The Arab Region in the New Internet World
The Arab Region in the New Internet World
 
Bill Handel Discusses Loan Growth at Raddon’s CEO Forum
Bill Handel Discusses Loan Growth at Raddon’s CEO ForumBill Handel Discusses Loan Growth at Raddon’s CEO Forum
Bill Handel Discusses Loan Growth at Raddon’s CEO Forum
 
Embraer Day 2012 (Melbourne) Defense
Embraer Day 2012 (Melbourne) DefenseEmbraer Day 2012 (Melbourne) Defense
Embraer Day 2012 (Melbourne) Defense
 
Raddon Chart of the Day October 2, 2012
Raddon Chart of the Day October 2, 2012Raddon Chart of the Day October 2, 2012
Raddon Chart of the Day October 2, 2012
 
フォームを編集 [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメント
フォームを編集   [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメントフォームを編集   [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメント
フォームを編集 [ ブログを読んだ方、ぜひアンケートにご協力下さい ] - Google ドキュメント
 
Social Media Adoption
Social Media AdoptionSocial Media Adoption
Social Media Adoption
 
Mobile Marketing india
Mobile Marketing indiaMobile Marketing india
Mobile Marketing india
 
Mobile Marketing India
Mobile Marketing   IndiaMobile Marketing   India
Mobile Marketing India
 

Mehr von Company Spotlight

Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 Years
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsPresentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 Years
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsCompany Spotlight
 
Cypress Development Corp. Investor Presentation
Cypress Development Corp. Investor PresentationCypress Development Corp. Investor Presentation
Cypress Development Corp. Investor PresentationCompany Spotlight
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationCompany Spotlight
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCompany Spotlight
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. PresentationCompany Spotlight
 
Aben Resources Ltd. Presentation
Aben Resources Ltd. PresentationAben Resources Ltd. Presentation
Aben Resources Ltd. PresentationCompany Spotlight
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationCompany Spotlight
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. PresentationCompany Spotlight
 
Aben Resources Ltd. Presentation
Aben Resources Ltd. PresentationAben Resources Ltd. Presentation
Aben Resources Ltd. PresentationCompany Spotlight
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCompany Spotlight
 
TerraX Minerals - Corporate Presentation
TerraX Minerals - Corporate PresentationTerraX Minerals - Corporate Presentation
TerraX Minerals - Corporate PresentationCompany Spotlight
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationCompany Spotlight
 
TerraX Minerals, Inc. Corporate Presentation
TerraX Minerals, Inc. Corporate PresentationTerraX Minerals, Inc. Corporate Presentation
TerraX Minerals, Inc. Corporate PresentationCompany Spotlight
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. PresentationCompany Spotlight
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCompany Spotlight
 

Mehr von Company Spotlight (20)

Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 Years
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsPresentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 Years
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 Years
 
Aben resources presentation
Aben resources presentationAben resources presentation
Aben resources presentation
 
Aben Resources Ltd.
Aben Resources Ltd.Aben Resources Ltd.
Aben Resources Ltd.
 
Cypress Development Corp. Investor Presentation
Cypress Development Corp. Investor PresentationCypress Development Corp. Investor Presentation
Cypress Development Corp. Investor Presentation
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate Presentation
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate Presentation
 
Aben Resources Ltd.
Aben Resources Ltd.Aben Resources Ltd.
Aben Resources Ltd.
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. Presentation
 
Aben Resources Ltd. Presentation
Aben Resources Ltd. PresentationAben Resources Ltd. Presentation
Aben Resources Ltd. Presentation
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate Presentation
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. Presentation
 
Aben Resources Ltd. Presentation
Aben Resources Ltd. PresentationAben Resources Ltd. Presentation
Aben Resources Ltd. Presentation
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate Presentation
 
TerraX Minerals - Corporate Presentation
TerraX Minerals - Corporate PresentationTerraX Minerals - Corporate Presentation
TerraX Minerals - Corporate Presentation
 
Aben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate PresentationAben Resources Ltd. Corporate Presentation
Aben Resources Ltd. Corporate Presentation
 
Cypress Development Corp
Cypress Development CorpCypress Development Corp
Cypress Development Corp
 
TerraX Minerals, Inc. Corporate Presentation
TerraX Minerals, Inc. Corporate PresentationTerraX Minerals, Inc. Corporate Presentation
TerraX Minerals, Inc. Corporate Presentation
 
Cypress Development Corp. Presentation
Cypress Development Corp. PresentationCypress Development Corp. Presentation
Cypress Development Corp. Presentation
 
Cypress Development Corp
Cypress Development CorpCypress Development Corp
Cypress Development Corp
 
Cypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate PresentationCypress Development Corp. Corporate Presentation
Cypress Development Corp. Corporate Presentation
 

Fortuna silverapr13presentation

  • 1. San Jose Mine,  Mexico www.fortunasilver.com April 2013
  • 2. Regulatory Disclaimer Certain statements in this presentation constitute forward‐looking statements and as such are based on an assumed set of economic conditions and courses of action. These include estimates of future production levels, expectations regarding mine production costs, expected trends in mineral prices and statements that describe Fortuna’s future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in prices for silver and other metals, technological and operational hazards in Fortuna’s mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing, governmental and other approvals, political unrest or instability in countries where Fortuna is active, labor relations and other risk factors. Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43‐101. Dr. Vehrs is a Founding Registered Member of The Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible for ensuring that the information contained in this presentation is an accurate summary of the original reports and data provided to or developed by Fortuna Silver Mines. 2
  • 3. Vision To be valued by our workers, the community and our  shareholders as a leading silver mining company in Latin America Caylloma Mine, Peru 3
  • 4. Core Assets Operating and exploring in the Americas Production  San Jose Mine, Mexico  Caylloma Mine, Peru Exploration  Exploring in Mexico and Peru; two  largest silver producing countries in  the world  51,000 meter drill program in 2013  4
  • 5. Company Snapshot Strong balance sheet Share structure (as of Mar 20 ) th Exchanges  US$64.7 million in cash (Q4 2012)  Outstanding: 125.3 million  US$20 million undrawn credit facility  Fully diluted: 131.4 million  No long term debt  No hedging Relative performance (%) of FVI & SLV FVI‐T SLV Frankfurt: F4S.F 170%  5.60 160% 150%  5.10 Performance % 140% Share Price 126%  4.60 130%  4.10 120% 110%  3.60 103% 100%  3.10 90% 6/29/2012 7/29/2012 8/28/2012 9/27/2012 10/27/2012 11/26/2012 12/26/2012 1/25/2013 2/24/2013 3/26/2013 5
  • 6. Proven Mine Builders and Operators Senior Management Jorge A. Ganoza Dr. Thomas I. Vehrs Cesar Pera Luis Dario Ganoza Manuel Ruiz‐Conejo Robert Brown President,  Vice President,  Vice President,  Chief Financial Vice President,  Vice President,  CEO and Director  Exploration Human & Organizational  Officer Operations Corporate  Development Development Co‐founder of  Over 35 years  Over 25 years  Over 15 years  Over 25 years  20 years experience in  Fortuna. Peruvian  experience managing  experience in  experience in the  experience in the  exploration, project  geological engineer.  exploration  organizational  operations and  execution of multi‐ development and  Identified and  programs in the  development  financial  million dollar  finance. Former CEO  negotiated purchase  Americas. Tom also  and change in  management of  mining projects and  of Calibre Mining  of Caylloma, built serves as an  Latin American  public mining  the implementation  Corp. and senior  the Fortuna team. independent director  companies. companies. Luis  of community  manager at Barrick  Jorge also serves as  for AQM Copper Inc. also serves as a  relations programs. Gold in exploration  Chairman of the  Director of Atico  and business  Board of Atico  Mining Corporation,  development. Mining Corporation,  TSX.V: ATY TSX.V: ATY  6
  • 7. Proven Mine Builders and Operators Board of Directors Simon Ridgway Chairman of the Board Robert R. Gilmore Mario Szotlender Tomas Guerrero Co‐founder of Fortuna.  30 years of experience working  Co‐founder of Fortuna.  Geological engineer with  Vancouver‐based mining  with resource companies and  Financier, businessman  over 30 years experience.   financier. Also founded  currently serves as Chairman of  and Director of Radius  Served as Director of  Focus Ventures, Radius  the Board for Eldorado Gold  Gold, Endeavour Silver,  Explorations for the  Gold, Mar West Resources  Corporation and as a Director for  Magellan, Focus Ventures  Hochschild Group. and Northland Resources. Layne Christensen Company. and Iron Creek. Jorge A. Ganoza President and CEO  Thomas Kelly Michael Iverson Co‐founder of Fortuna.  36 years of experience in mine  Chief Executive Officer of Fortuna  Peruvian geological  production, minerals industry  from 1998 to January 2005.  engineer. Identified and  consulting and corporate  President and Director of Niogold  negotiated purchase of  management in various Latin  Mining Corp. since 1998. Caylloma, built the Fortuna  American countries; currently  team. Jorge also serves as  serves as CEO of Apurimac Ferrum,  Chairman of the Board of  a private company developing iron  Atico Mining Corporation,  ore assets in Peru. TSX.V: ATY 7
  • 8. Key Milestones Foundations of a Leading Silver Mining Company Commissioning  of 1,500 tpd Plant expansion at  expansion to  San Jose   Shares begin  1,500 tpd at  trading on  San Jose mine Shares begin  NYSE trading on TSX Acquired 100%  Commenced  interest in  Reported Shares begin  commercial  San Jose  positive  trading  production at  project pre‐feasibility Successful  on BVL San Jose mine,  drilling  at  study at  on time and  Commenced Received EIS  San Jose San Jose  Increased  on budget production at  approval and  significantly  silver  Company  Caylloma on  permits for  Started  increased  production established time and on  San Jose construction  Ag Eq  by 85%  budget  resources    of San Jose  Shares trade  Increased  mine on the TSX.V Acquired stake  silver  in  production  Increased  Acquired San Jose  by 96%  silver  Caylloma mine project production by 13% 2005 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 2013 8
  • 9. Emergence of a Leading Silver Mining Company Increasing Exposure to Precious Metals Ag Production 4.9 5.0 4.4 4.5 4.0 4.0 3.5 3.0 2.5 M oz 2.5 1.9 2.0 1.7 1.5 1.0 0.8 0.4 0.5 0.0 2007 2008 2009 2010 2011 2012 2013E 2014E Au Production 30,000 26,000 25,000 23,300 20,700 20,000 oz 15,000 10,000 6,900 5,000 3,300 2,400 2,600 2,200 0 2007 2008 2009 2010 2011 2012 2013E 2014E 2013 base metal revenue estimate = US$30M; Pb = US$2,100/t & Zn = US$2,000/t 9
  • 10. Financial Snapshot Strong financial performance Revenue US$ [millions] Operating Income US$ [millions] 45.2 43.9 181.8 38.1 161.0 27.7 110.0 74.1 14.4 51.4 2009 2010 2011 2012 2013E 2009 2010 2011 2012 2013E 2013 forecast:  Ag = US$30.00/oz, Au = US$1,700/oz, Pb = US$2,100/t and Zn = US$2,000/t 10
  • 11. Financial Snapshot Strong cash flow and sustainable growth Cash Flow Per Share US$ Earnings Per Share US$   0.18  0.14  0.16  0.12  0.14  0.10  0.12  0.10  0.08  0.08  0.06  0.06  0.04  0.04  0.02  0.02  ‐  ‐ Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2012 11
  • 12. Project Pipeline San Jose Mine PRODUCTION Caylloma Mine DEVELOPMENT PROJECTS Trinidad  Carolina Don Luis North San Pedro Oeste, Cross  DRILL TARGETS Animas NE Lode, El Toro, Trinidad Cerro Vilafro,  Vilafro Sur Cailloma 6 Los Ocotes EARLY STAGE Over 95,600 hectares LAND  PACKAGE 12
  • 13. San Jose Mine, Mexico Overview Commodities Silver, gold Operation 1,050 tpd underground mine  Reserve Life 9 Years Taviche Mining District,   Location Oaxaca, Mexico Ownership 100% High‐grade, low sulphidation Deposit type epithermal vein deposit 2013E cash cost/t  US$70  3,500 Ag Production  24,000 Au Production  3,000  20,000  2,500  2,000  16,000 k oz oz  1,500  12,000  1,000  8,000  500  ‐  4,000 2011 2012 2013 2014 2011 2012 2013 2014 Forecasts Forecasts 13
  • 14. San Jose Mine, Mexico Solid reserve and resource base Contained Metal Tonnes  Ag Au Classification (000) (g/t) (g/t) Ag Au (Moz) (koz) Proven & Probable Reserves 3,335 190 1.58 20.4 169.5 Measured & Indicated Resources 56 74 0.61 0.1 1.1 Inferred Resources 4,257 185 1.57 25.3 214.9 Notes to Mineral Reserve and Mineral Resource tables prepared in accordance with NI 43 ‐ 101:   Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources  and Mineral Reserves  Mineral Resources are exclusive of Mineral Reserves  Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability  San Jose Mineral Resources & Mineral Reserves are reported as of December 31, 2012  Refer to www.fortunasilver.com for full disclosure 14
  • 18. Caylloma Mine, Peru Overview Commodities Silver, gold, zinc, lead Operation 1,300 tpd underground mine  Reserve Life 8 Years Location Arequipa, Peru                                  Ownership 100% Intermediate sulfidation Deposit type epithermal deposit 2013E cash cost/t US$96 Ag Production  2,000  1,500 k oz  1,000  500  ‐ 2011 2012 2013 2014 Forecasts 18
  • 19. Caylloma Mine, Peru   Solid reserve and resource base Contained Metal Tonnes  Ag Au Pb Zn Classification (000) (g/t) (g/t) (%) (%) Ag Au (Moz) (koz) Proven & Probable Reserves 4,308 130 0.37 1.52 2.15 17.9 51.1 Measured & Indicated Resources 1,601 79 0.33 0.79 1.43 4.1 17.0 Inferred Resources 6,633 101 0.27 1.84 2.58 21.5 58.5 Notes to Mineral Reserve and Mineral Resource tables prepared in accordance with NI 43 ‐ 101:   Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43‐101  Mineral Resources are exclusive of Mineral Reserves  Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability  Caylloma Mineral Resources and Mineral Reserves are reported as of December 31, 2012  Refer to www.fortunasilver.com for full disclosure 19
  • 20. Caylloma Mine Brownfields Exploration 2013 Exploration Targets  31,200 ha  concession area  US$6.7M 2013  exploration budget 20
  • 21. Growth Strategy Three‐pronged approach to create shareholder value Maximize production,   Commissioning of San Jose expansion to 1,500 tpd by 3Q 2013 profitability and cash  flow of current mines  Focus on operational efficiencies to reduce cash costs  Capitalize on   51,000 meter exploration program between Peru and Mexico brownfields   Evaluating multiple Ag ‐ Au anomalies at San Jose exploration  opportunities  Commanding land packages in Peru and Mexico  Post discovery, pre‐development opportunities in the Americas      Pursue selective  Silver contribution of >50% of revenue M&A opportunities   Below industry median for cash cost  21
  • 22. Community Relations Program Forging strategic partnerships  Programs are based on respect for ethno‐cultural diversity, open communication  and effective interaction with all stakeholders  We work with communities towards self‐development of economically sustainable  activities to improve their quality of life 22
  • 23. Investment Highlights 1 Emergence of a leading silver mining company in the Americas 2 Proven mine developers and operators 3 Strong cash flow and sustainable growth from existing mines 4 Brownfields exploration upside 5 Disciplined acquisition strategy 23