Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc.

SYMBOL: V.FVI Website: www.fortunasilver.com Corporate Contact Information Phone: (604) 484-4085 Email: info@fortunasilver.com 4Click here to Request Investor Information Direct from this Company

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4 Breaking News   Fortuna Announces additional Channel Sample Results, Animas Vein, Caylloma Silver Project, Peru more... 4 Overview   Fortuna Silver Mines is an emerging silver producer focused on Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru, and the San Jose Silver-Gold Mine in Oaxaca, Mexico. Fortuna intends to be a 2 M oz/yr silver producer in 2006 and is uniquely positioned to make additional acquisitions in Latin America. 4 People  Fortuna management has extensive experience in exploration, mining and business development in Latin America, and is committed to aggressive growth through acquisition and advanced stage exploration. Jorge A. Ganoza Durant, B.Sc. Eng. - President & Director Mr. Ganoza Durant is a geological engineer with 12 years experience in mineral exploration and business development for various private and public exploration companies in Central and South America. Peter Thiersch, M.Sc. P.Geo. - V.P. Exploration Mr. Thiersch is a geologist with 20 years experience in mineral exploration throughout North and South America, specializing in epithermal and porphyry related precious metal exploration. Jorge R. Ganoza Aicardi, B.Sc. Eng. - V.P. Operations Mr. Ganoza Aicardi is a mining engineer with 30 years experience in exploration and mine development in Latin America, including managing the start up of 3 mid size underground mines in Peru and Panama. Simon Ridgway - Director Mr. Ridgway has over 15 years experience managing exploration companies in North, Central and South America, including Radius Gold. His companies have made several major discoveries in Honduras and Guatemala. Tomas Guerrero Mendez, Eng. - Director Mr. Guerrero is a geological engineer with over 30 years of mine geology and mineral exploration experience in Peru, Mexico, Bolivia, Venezuela, Chile, Argentina and Ecuador. He discovered and put in production three mid size gold-silver mines. 4 Property  Caylloma Silver Mine, Peru Fortuna acquired 100% of the Caylloma Silver Mine from the Hochschild Group in early 2005. Caylloma was developed on a system of multiple silver-lead-zinc veins located in southern Peru. The mine hosts a NI 43-101 compliant estimate of 7 million ounces silver in proven and probable reserves, plus 14 million ounces silver in inferred resources, along with significant base metal credits. The mine was temporarily closed in 2003 due to low metal prices, but produced 2.6M oz silver in 2002. click to enlarge Management believes there is excellent potential to build on this resource base, increase future production rates and realize significant upside in additional zinc credits. The Company is therefore conducting a major exploration drilling campaign during 2005 and 2006 to revise the existing resource and production models. All operating and environmental permits are in place, and Fortuna expects to move rapidly into production. San Jose Silver-Gold Mine, Mexico Fortuna has also recently signed an option agreement with Continuum Resources to earn up to a 70% interest in the San Jose Silver-Gold Mine, by spending C$2 million over the next 24 months. The mine contains an NI 43-101 compliant estimate of roughly 12 million ounces silver equivalent (200,000 ounces gold equivalent) in the Inferred Resource category. click to enlarge The mine is currently producing at a rate of 100 tpd, and the Company will be focusing on exploration drilling in 2006 with the intent of expanding this resource and increasing future production rates. The acquisition also includes access to a significant portfolio of high potential exploration projects assembled by Continuum. 4 Politics Peru and Mexico are developing nations with democratically elected governments. Both are relatively stable and business oriented, with long histories of mining. At Caylloma, the district has seen mining for over 400 years and the previous owners have developed excellent relationships with the local community which Fortuna expects to continue. 4 Paper Fortuna trades on the Toronto Venture Exchange under the symbol FVI (V.FVI) and on the Frankfurt Exchange in Germany under the symbol F4S. The company has a total of 26,006,086 shares outstanding and 45,799,497 fully diluted.

4Click here to Request Investor Information Direct from this Company

 

Wealth Maker Turns Attention to Peru Silver Mine

By Tim Wood -

NEW YORK (ResourceInvestor.com) -- Investing in mining and exploration companies is made a lot simpler by following some basic rules. The first rule is ‘know thy management’; does management have a track record of making returns, and are the returns reasonably balanced between insiders and investors.

As in all aspects of life, exploration success is neither egalitarian nor equitable. The majority of geologists do not find much in their lives. The few who do score a big strike often do so more than once.

Ditto the financing and strategy side of the business. Some people are just a whole lot better than others at convincing people to fund their activities, or at trading assets.

So it was not difficult for Fortuna Ventures [TSXv:FVI], soon to be Fortuna Silver Mines, to snag our attention since Simon Ridgway of Radius Gold [TSXv:RDU] is a director. Ridgway has made a few truckloads of cash for investors thanks to his generative exploration ken and rainmaking abilities. That’s handy when combined with a strong vested interest in a company like Fortuna.

Fortuna has a joint venture with Radius on the latter’s Tambor Gold project in Central Guatemala. Fortuna has taken over from Gold Fields [GFI] which departed its Tambor joint venture in 2003 because its early assessment could not delineate a project that would meet the criteria of a major producer.

However, it’s not Guatemala, but Peru that holds the most medium-term potential for Fortuna.

Caylloma Silver Mine

The company is in the process of finalizing a deal to acquire the entire high grade Caylloma Silver Mine in southern Peru from the Hochschild family. The mine is about 5 hours north east of the town of Arequipa.

With the market turning up again recently, Fortuna managed a preliminary fund raising of C$1.05 million from insiders, and will need a further $10 million later this year. That will go toward paying the Hochschild group to turn over Caylloma.

Caylloma was put on care and maintenance in 2003 for lack of investment Fortuna president Peter Thiersch told Resource Investor in a telephone interview.

Thiersch was appointed to his position in December 2004 with 20-years of experience as an exploration geologist under his belt.

Fortuna is undertaking a modest recapitalization in the circumstances. Stockholders, currently at 8.9 million shares fully diluted, are being asked to consider increasing the capital stock to about 30 million shares (depending on the price of the next placement) to buy 7.1 million ounces of silver reserves and a further 14 million ounces of inferred resources, all of which are code compliant.

Value in the ground

Including first year capital expenditure ($3.5m) the total expected outlay for Caylloma is about $11.7 million so Fortuna is paying $1.64 per reserve ounce full diluted. If you wash the dilution of the warrants with the cash likely to be received from them then it’s about $1.25/oz on a see-through basis.

Assigning just one quarter of the resources to possible mineable status and adding them to the reserves has Fortuna paying just $1.09 or 83 cents per ounce respectively for the whole lot.

That’s well below the silver sector weighted average market capitalisation per reserve ounce which is around $4/oz at the moment. For Fortuna’s immediate peer group - Endeavour Silver, First Majestic, and First Silver (all in Mexico) – the weighted average is almost $3/oz

Adjusted for its anticipated future financing, Fortuna would sport a projected fully diluted market capitalisation per reserve ounce of $2.70-90. There is presently C$2.21ps of in situ metal value based on reserves only, C$3.31ps with the addition of one quarter of the resource ounces.

Of course, it’s not just silver. There are some healthy credits available from polymetallic veins which carry good concentrations of lead, zinc and copper; even a small amount of gold. There is almost $30 million worth of zinc in resources awaiting extraction. Grossed up with the silver, that provides an in situ value of C$3.46 at current metal prices.

Buying metal cheaply is all very well, but what’s the use if it stays in the ground and never becomes cash?

Mining the cash

Nothing is guaranteed, but the prospects for conversion to cash at Caylloma look pretty good. The mine has all the necessary permits and centuries of history so there are no greenie assaults looming, or locals fearing displacement. There is an existing mining camp in good order that carries international certification and plenty of serviceable plant and equipment ready for use. Mining costs, ore handling and metallurgy are also well known so that further reduces the risk of an unfortunate surprise.

Thiersch said production is slated for mid-2006 with peak production forecast at 2 million ounces a year from a 600 tonne per day plant. Before that can be achieved, 3,000 meters of underground development and some plant upgrades have to be completed. A parallel zinc recovery plant is in the works as part of the redevelopment, and which would boost production rates and justifies pricing in the zinc resources.

The reserve rock is worth $109 per tonne at current silver and zinc prices, and $122/t if all metals are credited. That leaves a healthy margin on top of estimated mining costs of $40/t.

Total cash costs are pegged at about $3.50/oz taking all in costs to a rounded $5/oz. With silver currently trading at $7.39/oz, the potential cash flow is about $8.8 million a year, or C$0.37 cents per fully diluted share.

If you take a cynical approach and cut the silver producer average cash flow multiple two thirds, then Fortuna still carries an imputed price of C$2.45ps. That aligns well with the silver reserve value per share which is expected to grow through exploration and acquisition.

Production is one thing, but investors need more than three years of production in reserve. Thiersch is obviously confident that the resource base can be expanded, and Fortuna certainly has enough of the district staked for its account to assume that is more than blue sky promotion.

$700,000 is going to be spent on 5,000 meters of surface drilling in the first year. Thiersch said there is a possibility of acquiring some more properties soon. The concession Fortuna will be working over 8,000 hectares with 30 veins identified so far.

The stock is presently halted and is expected to resume trading in Canada next week.

Source: Resource Investor

Posted by editor on June 9, 2005 05:19 PM | Permalink

 

Exchange Traded FundsSunday, April 2, 2006   <!-- lines --><!-- lines --><!-- end channel header --><!--premium lines table -->               --><!--end premium lines table --><!-- FEATURED CHANNEL table -->All That Glitters?
Silver ETF Decision Raises Hopes, Heartburn
Source: InstitutionalInvestor.com
There are now more than 200 exchange-traded funds listed on U.S. exchanges, but few, if any, have been the subject of such wild speculation, and consequent heartburn, as the proposed silver ETF.
 
Since market leader Barclays Global Investors filed for the iShares Silver Trust nine months ago, both the pro- and anti-ETF forces have mustered some substantial, and some less substantial, arguments on either side. Neal Wolkoff, chairman and CEO of the American Stock Exchange, where the silver ETF is to be listed – the first new listing, it should be noted, on the Amex by BGI since Barclays decided to yank 81 ETFs from the Amex last summer – argued forcefully in favor of the fund.


"The listing and trading of the Silver Shares will benefit the marketplace by providing greater liquidity and investor choice," he wrote in a Feb. 28 comment letter. "We fervently believe that a product's potential success should be based on the performance in the marketplace rather than any potential or hypothetical concerns of a small number of commentators motivated by their own commercial interests."
 
Those commentators, led by the Silver Users Association, which represents members that it says process 80% of the silver used in the U.S., have argued that the silver market is too illiquid to support the demands of ETF (each share will represent 10 ounces, initially), and that a resulting scarcity of silver could force job cuts. David Karsbøl, a market analyst with Denmark's Saxobank, doesn't buy that argument, saying "even if prices double or treble from here, most users will probably buy the same amount of silver, because it will have no impact on the final price of the goods they are producing." But he acknowledges that there's not a lot of silver floating around in the market. "It's not really possible to increase the supply of silver very much.... We're seeing a very tight physical market."
 
Last week, the Securities and Exchange Commission – which received 255 comment letters on the proposed ETF – sided with the pro-ETF forces, approving the Amex's rule change allowing the ETF to trade. "The Amex is glad to see the SEC make an important step toward making the iShares Silver Trust available to the public," Cliff Weber, the exchange's senior v.p. for the ETF marketplace, said. Both the Amex and BGI caution that the ETF has not yet cleared the final hurdle. "We remain in a quiet period while the SEC reviews BGI's iShares Silver Trust filing," explains BGI spokeswoman Christine Hudacko. "No launch date can be determined yet." Still, given the SEC's decision on the Amex's rule change, and the tone of that decision, most commentators say the eventual approval of the ETF is a fait accompli.
 
The silver iShare would be structured in the same way as BGI's iShares Gold Trust, as a commodity-based trust shares security – not technically an ETF, but traded in the same way. Initially, the Amex is expected to list 150,000 shares, requiring 1.5 million ounces of silver, though the registration statement's mention of 130 million ounces, approximately the amount held by the New York Mercantile Exchange's COMEX division, was enough to raise the eyes – and ire – of industrial users of silver. The fact that silver prices remain near a 22-year-high, thanks partly to the speculation surrounding the BGI offering, hasn't helped.
 
So, in the wake of the SEC decision, what of the doom and gloom scenarios?
 
Paul Mazzilli, an analyst and ETF expert with Morgan Stanley, has his doubts. "I think [the impact] is overstated. [The silver ETF] may have some more impact than gold, because gold's a much bigger market, but I also don't think this ETF will be as big as the gold ETF."
 
ETF opponents certainly hope he's right. Paul Miller, the executive director of the SUA, thinks transparency arguments helped carry the day for the Amex. "It's kind of what we're dealing with in Washington; folks don't think there's enough transparency in anything right now," he says. "Some folks in the general public are more radical and continuously send the SEC notes that say, 'The SUA is manipulating the silver market,' and it's just not true and not factual. The SEC, in its review, decided that this might be a way to put some of those concerns or fears to rest."
 
Karsbøl sees in that an effective strategy. "We've seen a lot of conspiracy theories that the short side of the market has been able to trigger sell-offs, just by dumping naked contracts on the market," he says. "If that were true, you could have bought silver and demanded delivery, calling the naked shorts. That's pretty close to what's happening now with the silver ETF." All told, Karsbøl says the proposed fund is great for the silver market, calling it "a tremendously positive development."
 
"Gold costs 55 to 60 times more than silver," he says. "It doesn't make any sense to me that that should be the case," given the relative scarcity of silver. "Everything else being equal, [the ETF] should be positive for the price of silver."
 
Tom Szabo, the editor-in-chief of the blog SilverAxis.com, says he doesn't buy the conspiracy theories, either, but says, "the silver market isn't very transparent. The spot market has virtually no information in it. Yes, there's ongoing spot price indications and London and New York fixes, but really, who knows how much silver is out there?"
 
Plans for a silver-backed exchange-traded fund on the London Stock Exchange have added another dimension to the controversy. Rather than actually holding physical silver, as the iShares product will, the proposed offering from ETF Securities will track the price of silver with third-party-backed contracts, much as it does for its London-listed oil ETF, Oil Securities. BGI, citing the quiet period, would not comment on the decision to use silver rather than futures.
 
Though he acknowledges that "some have raised concerns about that, too," the SUA's Miller says, "from our standpoint, that might have been a better approach here in the United States, not actually asking people to hold such large amounts of physical silver." That way, he says, by not tying up such a large inventory of the metal, the impact on jobs – his group's longstanding argument against the ETF – would be muted.
 
Mazzilli also has his doubts. "The bullion is cleaner, it doesn't have counterparty risk, and it also has a better tax treatment," he argues. "It's a cleaner, safer and simpler product if they can do it without the futures." Szabo agrees, saying that such a product "is really, in effect a collateralized obligation" that "still bears credit risk," as opposed to holding the physical commodity.
 
Szabo sees three ways the Silver Shares listing could play out. First, it could be as bad as the SUA and its opponents say, causing a big disruption in the silver market. Second, front-running could run silver prices up so high that it dampens enthusiasm for the fund. Finally, "there's a possibility that it's going to be a dud," he says. "It's very possible that this is all a big deal about nothing, and there really isn't that much pure demand out there to make a huge amount of difference."
 
The disappointed Miller certainly hopes so. "Hopefully, our conclusion in our statements were wrong and this won't have an impact," he says. "But nobody knows that right now."
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Posted on March 31, 2006
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http://www.fortunasilver.com/s/Presentations.asp  

Fortuna Silver Mines Inc
Symbol FVI
Shares Issued 26,987,643
Close 2006-03-30 C$ 2.29
Recent Sedar Documents



Fortuna to begin Ag production at Caylloma in Q3


2006-03-31 11:40 ET - News Release

Mr. Jorge Durant reports

FORTUNA ON TRACK FOR SILVER PRODUCTION IN THIRD QUARTER 2006

Fortuna Silver Mines Inc. is on track to produce the first silver at its 100-per-cent-owned Caylloma mine in Peru, with milling of ore expected to start by the third quarter of 2006.

The company continues to make steady progress with mine commissioning and commercial silver production is expected to begin during the third quarter of this year. Mechanical crews initiated work on upgrading the 700-tonne-per-day processing plant in the first week of March and the new primary jaw crusher has arrived on site. Also during March, the company received its certificate for mining operations from the Peruvian government, and awarded the mine production and development contract to Canchanya Ingenieros SRL, a Peruvian mine contracting firm. Canchanya is currently operating in several underground mines and is the sole contractor for the Ares mine, one of the largest underground gold-silver operations in the country.

Production for the first year of operations is projected to be 1.9 million ounces of silver.

Jorge Ganoza Durant, president of the company, commented: "We are moving on track to achieve the corporate goals we set forth for the company last year. We are now established in Peru and Mexico with solid projects and my management team anticipates that we will become a silver producer this year. We are very pleased with how Caylloma is advancing towards production; our team in Peru is doing an excellent job."

Further information on the Caylloma project can be found in the National Instrument 43-101 report titled "Technical Report, Caylloma Project, Arequipa, Peru," prepared by Chlumsky, Armbrust and Meyer LLC, dated April 22, 2005, and filed on Stockwatch SEDAR files.

Corporate activity

The company also announces that it has granted incentive stock options to its directors and officers to purchase up to a total of 500,000 shares exercisable for 10 years at a price of $2.29 per share.


 

wurde Fortuna Silver recht ausführlich besprochen. Der Bericht ist nach meiner Ansicht recht interessant. Leider habe ich den Bericht nur als PDF Datei vorliegen und kann ihn hier nicht einstellen.

gruss

permanent  

Hab Dir ne Bordmail zukommen lassen!

Gruß Flo...  

Last Trade: 19 Apr 2006 11:05 EDT Last Traded 2.250 Net Change +0.100 Last Bid Size 2 Volume 54,150 Last Bid Price 2.250 Open 2.170 Last Ask Price 2.260 High 2.250 Last Ask Size 10 Low 2.100

Click here for the Delayed Market Depth by Price Summary for this symbol

Time Price Shares $ Chng Buyer Seller 11:05 2.250 1,000 +0.100 Interactive E*TRADE Sec. 10:58 2.200 50 OLT Wolverton TD Securities 10:58 2.250 800 +0.100 Anonymous Interactive 10:58 2.250 3,000 +0.100 Anonymous Canaccord 10:58 2.240 3,000 +0.090 RBC Interactive 10:58 2.230 3,000 +0.080 RBC Canaccord 10:51 2.200 700 +0.050 Raymond James TD Securities 10:37 2.180 1,000 +0.030 TD Securities Questrade 10:37 2.180 3,500 +0.030 TD Securities Desjardins 10:23 2.150 1,000 +0.000 E*TRADE Sec. Penson

 

ich würd jetzt rausgehen!
Rechne mit jetzt langsam mit fallenden Rohstoffpreisen. Insbesondere bei
Kupfer und Zink.
Silber ist momentan unberechenbar und schwer vorherzusagen. Aber normalerweise
sollten wir hier auch erstmal zurückkommen.
Durch den ETF und die momentane unsichere Weltlage ist das aber fast unmöglich
vorherzusagen. Sollte die Zulassung für den ETF kommen, werden wohl aber
erstmal Gewinne mitgenommen. War bei den Gold ETF's auch so.



 

schon rappelts...:-)  

Gutes Timing für dein Posting, der Silberpreis ist ja gewaltig unter die Räder gekommen. Ein Kursrücksetzer war überfällig und für die langfristige Entwicklung wohl auch gesund.

gruss

permanent  

Last Trade: 26 Apr 2006 12:11 EDT Last Traded 2.350 Net Change +0.100 Last Bid Size 120 Volume 470,273 Last Bid Price 2.300 Open 2.300 Last Ask Price 2.380 High 2.380 Last Ask Size 75 Low 2.250

Click here for the Delayed Market Depth by Price Summary for this symbol

Time Price Shares $ Chng Buyer Seller 12:11 2.350 5,000 +0.100 Ntl. Bank Fin. Research Cap. 11:56 2.340 2,500 +0.090 Anonymous Anonymous 11:56 2.350 800 +0.100 Interactive Anonymous 11:56 2.380 2,500 +0.130 Anonymous Union 11:55 2.330 74 OLT Wolverton HSBC 11:55 2.380 2,000 +0.130 Anonymous TD Securities 11:55 2.380 500 +0.130 Anonymous CIBC 11:48 2.340 1,000 +0.090 Anonymous E*TRADE Sec. 11:48 2.340 1,500 +0.090 Anonymous Scotia 11:47 2.300 2,200 +0.050 Anonymous RBC

Last Updated: 25 Apr 2006 Rolling 52 Week High 2.530 Rolling 52 Week Low 0.700 Total Number of Shares 42,220,730 Shares in Escrow 0 Net Shares Outstanding 42,220,730 Float Quoted Market Value 94,996,643 This table is updated at the end of each day.

 

 

Last Trade: 27 Apr 2006 11:02 EDT Last Traded 2.400 Net Change +0.040 Last Bid Size 999 Volume 55,400 Last Bid Price 2.380 Open 2.350 Last Ask Price 2.400 High 2.400 Last Ask Size 50 Low 2.250

Click here for the Delayed Market Depth by Price Summary for this symbol

Time Price Shares $ Chng Buyer Seller 11:02 2.400 5,000 +0.040 CIBC BMO Nesbitt 10:55 2.400 3,000 +0.040 TD Securities Anonymous 10:55 2.400 2,000 +0.040 TD Securities HSBC 10:53 2.400 3,000 +0.040 TD Securities HSBC 10:52 2.400 5,000 +0.040 RBC HSBC 10:44 2.370 1,900 +0.010 Ntl. Bank Fin. TD Securities 10:44 2.360 500 +0.000 Ntl. Bank Fin. Anonymous 10:33 2.360 2,000 +0.000 BMO Nesbitt Anonymous 10:21 2.360 2,500 +0.000 Anonymous Anonymous 10:01 2.250 3,000 -0.110 Dundee TD Securities

Last Updated: 26 Apr 2006 Rolling 52 Week High 2.530 Rolling 52 Week Low 0.700 Total Number of Shares 42,230,730 Shares in Escrow 0 Net Shares Outstanding 42,230,730 Float Quoted Market Value 99,664,523 This table is updated at the end of each day.

 

 

Boliviens Präsident droht weitere Verstaatlichungen an

 

Heute scheinen alle die in Südamerika tätig sind in Sippenhaft genommen zu werden. Den erstarkten Linken ist allerdings auch alles zuzutrauen.

An unsere Linken hier im Board:

Es gibt wieder einige Länder in denen ihr euch wohlfühlen könnt. Nachdem China dem Sozialismus abgeschworen hat, da die klugen Chinesen die Sackgasse des Sozialismus erkannt haben, so gibt es wieder einige Länder in Südamerika in denen sich die Linken dieser Welt zu Hause fühlen dürfen.

Links gleich Mißmanagement und Armut.

gruss

permanent 

 

Wenn ich das richtig weiß, ist fortuna doch in peru und mexiko tätig und nicht in bolivien...  

Ja Fortuna Silver ist nur in Peru und Mexico aktiv. Es sind aber alle in Südamerika tätigen Minenwerte in Sippenhaft genommen worden. Zur Zeit kommt Fortuna nicht so recht in die Puschen.
Ich denke das Geld ist hier nach wie vor gut angelegt.

gruss

permanent  

Norden aufgemacht. Meine Aktien von Fortuana Silver profitieren bisher noch nicht. In den letzten Wochen war das Handelsvolumen ohne erkennbaren Grund recht hoch. Der Aktienkurs hat sich in dieser Phase nur sehr vorsichtig aufwärts bewegt.

Hier noch eine Nachricht aus 07/06

Thu Jul 13, 2006 Fortuna Silver Mines appoints Chief Financial Officer
	July 13, 2006: Fortuna Silver Mines Inc. (TSX-V:FVI), Mr. Jorge Ganoza, President of the Company, is pleased to announce the appointment of Mr. Luis Ganoza Durant to the position of Chief Financial Officer with the Company. Mr. Luis Ganoza has a BSc. in Mining Engineering from the Universidad Nacional de Ingenieria in Peru, an MBA from ESAN (a Tier 1 Latin American Business School), and an MSc in Accounting and Finance from The London School of Economics. His operational experience of mining finance was gained in progressively more senior roles in the financial management team of one of Peru's largest public mining companies which generated US$100 million per year in revenues. After starting in an operational position as a shift boss in the mining operations, he progressed to the roles of Head of Costs and Budgeting Department, Treasurer, and Controller. His experience in these senior financial roles has given him significant exposure to Latin American capital markets. Mr. Jorge Ganoza, the President of Fortuna, said: "On behalf of Management and the Board of Directors, I would like to welcome Luis to the Company. We look forward to having him on board as part of the Fortuna team. His financial experience comes from a solid background in managing the financial aspects of production operations. This will be particularly valuable to Fortuna as the Company moves towards production in the third quarter of 2006." The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release. ON BEHALF OF THE BOARD Jorge Ganoza Durant, President Fortuna Silver Mines Inc. Tel: 604-484-4085 Symbol: TSX-V:FVI
	You can view the Previous News Releases item: Tue Jul 11, 2006, Fortuna grants stock options

 

Thu Jul 13, 2006: Fortuna Silver Mines appoints Chief Financial Offi... (more...)

Tue Jul 11, 2006: Fortuna grants stock options (more...)

Mon May 15, 2006: Fortuna cuts 1772 g/t Ag and 10.5 g/t Au over 4.1m... (more...)

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Click here to see a recent interview from Jay Taylor

 

The Daily Resource 8/4/06:

<!-- editor image -->     By <!-- article author -->Doug Hornig   August 4, 2006 www.KitcoCasey.com Email Article Printer Friendly <!-- article content --> Good morning. . . Gold fell below $640 at noon during Thursday’s New York session, but recovered modestly in the afternoon to finish at $642.50/oz., for a loss of $6.60. Overnight, gold has traded very narrowly and, as we head into the new trading day, is selling for $644.60. Platinum was off sharply, declining $14 to close at $1226/oz. Overnight, platinum has been trending higher and, at the beginning of the new day here, is selling for $1234. Silver traded narrowly but to the downside, losing 16 cents to close at $12.01/oz. Overnight, silver fell below $12 several times in the overseas markets but rebounded each time and, as the New York day begins, is selling for $12.20. (Click here for charts) Julian Phillips of GoldForecaster.com wrote of gold that, “De-hedging should be less than 200 tonnes for the year. Investment buying through the E.T.F. and direct fund buying of gold in other markets is the prime cause of this run. We would hope to see the Producers get out of their hedges up to the point where they have them only to fund capex, but this is not yet happening to the detriment of their shareholders. “E.T.F. demand is moving toward and possibly above 500 tonnes a year now.” Despite the pullback in silver, Bill Murphy of LemetropoleCafe.com calls the situation with the metal “particularly explosive,” noting “the falling, or low, silver open interest combined with the disappearing silver warehouse stocks on Comex. What is so strange is how few [people] seem to care … Having traded a few contracts in my life, I know how important this is and it is proving out.” Meanwhile, the Hightower Report wrote: “While silver gradually fell back into line with the weakness in gold, the market still generally held together better than the yellow metal. However, significant weakness in the copper markets could have undermined physical demand expectations for silver. Some players were concerned that the silver market was unable to take out the prior sessions highs and the Press is suggesting that the even number level of $12.00 has become a critical pivot point. We would have expected silver to be emboldened by the better than expected factory order release and as a result of the stock markets mid day bounce but the bears simply held control throughout the early afternoon action.” In the currency market, the dollar fell slightly against the euro. Late Thursday, the euro was changing hands at $1.2804, as opposed to $1.2788 on Wednesday. As expected, the European Central Bank (ECB) raised interest rates yesterday, by a quarter-point to 3%. The Bank of England also pushed up its main rate by the same margin to 4.75%, the first increase in two years and a move that caught nearly everyone by surprise. ECB President Jean Claude-Trichet held a press briefing after the rate announcement and said that the bank will “continue to monitor very closely all developments” with regard to prices. He believes that inflation is likely to remain above the bank's 2% target this year, as well as in 2007. “On balance,” said Chris Turner, head of currency research in London at ING Groep NV, “Trichet was pretty hawkish and we see another rate hike in October … We're pretty positive on the euro.” “You have the ECB and BOE raising interest rates and the Fed coming to the end of its rate-increase cycle,” said Peter Frank, a senior currency strategist at ABN Amro Holding NV in Chicago. “I will buy euro and to some extent the sterling against the dollar. The dollar is losing support.” Many traders, however, were looking forward to today’s U.S. payroll report, with a lot of expectation that it will show a sharp rebound, and that may have served to limit the dollar’s decline. “Some people tend to sell the euro and buy back the dollar as there is a great deal of uncertainty about the payroll report tomorrow,” said Michael Malpede, a senior currency analyst in Chicago at Man Global Research. “If we have a strong payroll number, it still leaves the door open for another rate hike. The Fed isn't out of the picture yet.” In the energy market Thursday, oil prices declined, with crude for September delivery finishing at $75.46/barrel on the New York Mercantile Exchange, down 35 cents. Unleaded was also down, falling 4.43 cents, to $2.293/gallon. Traders were relieved by a report that Tropical Storm Chris is likely to “weaken to a depression later today,” according to the National Hurricane Center. “Once the storm showed a little disformation and weakening it really leaned on the price of natural gas price, which spilled over into the crude market,” said Mike Guido, head of hedge-fund marketing for commodity sales at Societe Generale. Guido attributed much of the action to an absence of short sellers. “Seasonally-speaking you're not going to get new shorts into the market because of the event risk that is tied to storm activity and in the background, geopolitics,” he said. “Until you have new short interest come into the market, this market is going to continue this kind of price action where you have a strong early move down and then it's going to come back up later in the day.” The base metals all got haircuts on Thursday. Copper slid all day, and wound up losing 10 2/3 cents, to $3.4647/lb. Nickel fell off a cliff, declining throughout the day to finish at its intraday low of $12.0338/lb., down more than 58 cents. Zinc dropped a little under 2 cents, to $1.5077/lb. Aluminum shed two cents, to $1.1105/lb., while lead gave up a penny and a half, to $0.4942/lb. The decline in copper, on a low volume day, came even as word out of Chile was that workers at the Escondida mine had overwhelmingly rejected the company’s latest offer. Traders seemed to be betting that the two sides would come to an agreement despite evidence to the contrary. An immediate strike was averted, because the parties are still in a government-mediated, five-day goodwill negotiation period, which began Monday. If the sides fail to reach agreement during the goodwill period, a strike would begin at the start of the first shift on August 7. Pressure on nickel supply eased slightly as the LME reported a second day of small increases. Inventory now stands at 4,332 tons. In the aftermath of the tussle over Falconbridge, the Toronto Globe and Mail reported that successful bidder Xstrata may look to divest itself of the company’s aluminum unit, which includes a smelter and refinery. The paper also said that Alcan, which reported record profits this week, could be a buyer, according to CEO Richard Evans. On Tuesday, however, Merrill Lynch stoked the rumor mill by issuing a report suggesting that a Rio Tinto acquisition of Alcan would make “good strategic sense.” That’s what’s happening . . . Until Monday! -------------------------------------------------- NEWS YOU CAN USE... With property interests in Canada, Mexico and the U.S., Almaden Minerals Ltd. uses the generative model to acquire prospective mineral properties and form joint ventures with third parties, who assume the exploration costs and risk in return for acquiring an interest in the properties. Using the management's technical acumen, geologic database and state-of-the-art exploration technology and methodologies, Almaden has created a significant track record of identifying prospective mineral properties. Learn more about Almaden Minerals. ******

 

http://resourcemedia.de/download/RAR%20August%202006.pdf
 

Quartal 2006 aufgenommen werden. Spätestens dann sollte die Aktie zum Sprung ansetzen. Üben wir uns also in Geduld.
Ist hier eigentlich noch jemand investiert oder seit ihr bereits alles frustriert abgesprungen?

 

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     Fortuna Silver has received media coverage from Jay Taylor
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Fortuna Silver Mines has received media coverage from Jay Taylor,
editor of Jay Taylor's Gold & Technology Stocks Newsletter.

To read the story, please click the link below.

http://snipurl.com/v1ug

Best regards,

Warwick G. Smith

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Media Relations
Gold Group Inc.
http://www.goldgroup.com/
tel   604-484-4085
fax  604-484-4029

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Copyright (c) 2006 FORTUNA SILVER MINES INC. (FVI)  All rights
reserved.  For more information visit our website at
http://www.fortunasilver.com/ or send mailto:info@fortunasilver.com
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Desinteresse an der Aktie schon sehr verwunderlich. Ich habe meinen Bestand in den letzten Tagen erhöht.

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