Fortuna Silver - looking good FVITF.PK/ FVI.TO

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#1 Thu, Jul 7, 2011 - 5:08pm
SushiSioux
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Fortuna Silver - looking good FVITF.PK/ FVI.TO

I met with Foruna Silver at the NYC hard assets show in May. Carlos, their IR representative, was extremely 1) polite 2) enthusiastic and 3) informative reviewing the map and presentation handout. One of the better reps there. Aurcana and First Majestic reps were entirely under enthused.

production costs poised to be reduced, profit margins expected to go up. Peru elections over and their share price has been upwardly mobile ever since. I wish I had spare coin to invest here. great company with bright future.

Press releases

Jun 20, 2011 Fortuna's San Jose Mine on Schedule for Production in August 2011
View PDF

Read more
 
Jun 01, 2011 Fortuna's San Jose Mine Updated Mine Plan and Consolidated Production Forecast
View PDF

Read more
 
May 30, 2011 Fortuna Options the Mario Ag-Au-Pb-Zn Property in Central Peru
View PDF

Read more
 
May 16, 2011 Fortuna Announces First Quarter 2011 Financial Results Conference Call

Financials

Edited by: SushiSioux on Nov 8, 2014 - 5:09am
Thu, Jul 7, 2011 - 5:21pm
Eric Original
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I own it

Almost got shaken out with political worries in Peru, but hung in there. A long term keeper.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Thu, Jul 7, 2011 - 5:36pm
silverwood
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Ditto

Yeah I have a position here also. What is interesting is it has Latin American executives versus Canadians and that may be a strong point in navigating with the local governments.

Thu, Jul 7, 2011 - 8:19pm
mouser
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Fortuna is one i did own not

Fortuna is one i did own not so long ago, but after the troubles started with Bear Creek, i decided on taking my profits and move on. As is quite normal , it took quite nicely after I sold, LOL.

Fortuna has terrific economics and good earnings, so if you are Ok with Peru for the future , i think a terrific company to own.

Fri, Jul 8, 2011 - 7:59am (Reply to #4)
71185208
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Mouser

Hey mouser Wonder if you would let us know what your top 3 or 5 silver picks are? I know you like Revett and Silvermex, what else appeals to you, out of curiosity?

Fri, Jul 8, 2011 - 10:22am
Super_Douche
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Good Company

I owned Fortuna a few months ago, but I sold my shares because I got nervous about Peru. Other than that they seem like a great company with a lot of expansion planned for the future. I've kept an eye on it, and I might jump back in. 

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Fri, Jul 8, 2011 - 10:22am
Super_Douche
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Good Company

I owned Fortuna a few months ago, but I sold my shares because I got nervous about Peru. Other than that they seem like a great company with a lot of expansion planned for the future. I've kept an eye on it, and I might jump back in. 

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Fri, Jul 8, 2011 - 5:37pm (Reply to #5)
mouser
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I am long SVM as well,(both

I am long SVM as well,(both options and commons) , I also like FVI, GPR, MFL, USA, and EDR in the producing plays, in no specific order. WS, Wildcat Silver looks real interesting but years from production.

I own shares of SLX ( from when they were GGC at .25) and also RVM as you had noted . Have traded RVM in and out since before it did the 5-1 rollback. Those are my 3 biggest positions and the only silvers i hold currently.

Sat, Jul 9, 2011 - 2:15pm
71185208
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Thanks for the reply, Mouser.

Thanks for the reply, Mouser.

Sat, Jul 9, 2011 - 3:05pm
ScottJ
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Hi mouserman! We have many of

Hi mouserman!

We have many of the same picks and I saw you often at the SLX/Revett stockhouse board. Didn't know you were here, but I am sure glad you have come and are sharing your insights. You have been spot-on in the past, and I look forward to reading what you have to offer.

-

As far as Fortuna, I have actually not done that much DYODD on it even though I am sure it is a gem from my general understanding of it. The concerns about peruvian takeover of miners seems a bit overblown. However, the new president has said that he is likely to raise taxes on producing companies.

I am in Tinka (also in Peru), and I am not worried about any sort of catastrophic (to share price) government shenanigans... yet (given current world/geo-political situation). A Great article discussing the overblown fears can be found at one of my favorite independent bloggers.

https://thefundamentalview.blogspot.com

And the post concerning Peruvian Miners:

https://thefundamentalview.blogspot.com/2011/06/is-there-fear-trade-oppo...

Take everything in moderation, including moderation~
Sat, Jul 9, 2011 - 11:13pm (Reply to #10)
mouser
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Yes good stuff

I believe Peru no worse than most other countries around the world. Certain areas of Peru are definitely mostly off limits to miners, but many areas are friendly to mining. Peru i believe the number 1 silver producing country in 2009 , but in 2010 was eclipsed by Mexico who now holds that distinction.

SO its quite obvious that a big part of the nations revenues come from the exploitation of precious metals.

We are seeing a growing trend in these poorer countries of asking for a bigger share in the profits , and in some cases Nationalization of mines. Venezuela is one extreme for sure, and many of the african countries now leaning that way as well.

Canada normally rated one of the best jurisictions for mining, but tis no easy road get a mine off the ground here. And perhaps one of the reasons Canada doesnt rate up in the top ten of precious metals mining countries, despite having huge resources and the engineering expertise.

FVI plans to have their San Jose ,Mexico mine online in august this year.

I do like FVI and it rates high in my list of silver plays.

Tue, Jul 12, 2011 - 4:50pm
Nowhuffo
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New Presentation

FVI should be seriously considered by anyone interested in a solid silver miner. I won't go into trading details but let's just say Fortuna "has been bery bery good to me."

They just came out with a new presentation:

https://www.fortunasilver.com/i/pdf/Presentation.pdf

Excellent management. The headline name is:

Simon Ridgway
Chairman of the Board
Founder. Vancouver-based mining financier. Also
founded Focus Ventures, Radius Gold, Mar West
Resources and Northland Resources.

The only knock I can give the stock is that the money boys are aware of it and in the last year I have seen indications that it is part of the hedge fund trade with resulting volatility.

Still an excellent long term hold if you are interested in producers who actually mine the mine, not just the stock market.

Mon, Jul 18, 2011 - 4:08pm
Eric Original
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Not long term after all :)

Said bye bye to Fortuna.

I didn't part with it at $4.50 when we were all worried about Peru, but now well north of $6, I can walk away.

I've got too many stocks I want to buy just in Canada and Mexico. For $6, I can stop thinking about Peru.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Mon, Jul 18, 2011 - 10:23pm
After the Storm
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Peru

The following is an email I recieved from a friend today. He and I have been riding the PM bull for several years and corresponding. Looks market and PM friendly. I am holding Fortuna as well as a few others personally. Fortuna has been the strongest relative performer of the silver stocks during the summer. Bodes for a strong breakout when it passes 7 bucks. Good Luck.

"Last night in a television Humala interview announced that Julio Velarde had accepted his invitation to remain at the head of the Central Bank. This is a huge signal in turns of continuity and very market friendly. It's a bit of a surprise. Although Velarde staying was always in the cards (albeit, at mid-deck), it did seem that Oscar Dancourt was fighting for the post and, given that he had become prominent in speaking for Gana Peru, was likely to win.

 

Perhaps even more exciting, if confirmed: rumor has it that the current vice-minister of Treasury (vice-ministro de hacienda), Luis Miguel Castilla, will be appoint Minister of Finance, instead of Kurt Burneo.

This would be hugely market friendly. Castilla would represent continuity, plus, he was one of the hard-liners in terms of orthodox economic policy at the Ministry of Finance. He's viewed locally as very knowledgeable, serious, and orthodox.

However, this rumor needs to be confirmed. Humala was asked in interview specifically about the Castilla rumor, and neither confirmed it nor denied it.

What lends credence to the possibility is:

1. It would be in line with Velarde's appointment at the CB.

2. We had been hearing over the last couple of weeks that certain people at Gana Perú had been extending feelers out to the business community on who to appoint at the MEF.

 

Velarde alone is a strong pro-market signal. Velarde with Castilla would be five times stronger in terms of sending a convincing message to the investor community. I would expect it to boost local markets significantly.

 

The news would also seem to indicate that the moderate wing is winning out in the internal "pro-governance" versus "pro-authenticity" debate within Gana Peru. This would certainly be the case if a third, weaker, rumor is confirmed, that Salomón Lerner, Humala's campaign and political advisor and leader of the moderate wing, is appointed head of the cabinet.

 

It does leave one wondering about a few things:

1. What role will the Peru Possible and intellectual leftists that were brought on board after the first round play? They seem to have been pushed aside a bit.

2. How will the more radical (pro-authenticity) elements in GP take this?

3. Will either groups be given cabinet positions enough to generate tension that Castilla (if appointed) would face?

 

Still, overall, hugely positive. Especially if Castilla is confirmed.

Sincerely,

Walter Spagnuolo

Manager, Investor Relations

 

Candente Copper Corp. - tsx:dnt bvl:dnt

This Too Shall Pass
Fri, Jul 22, 2011 - 9:03pm
Nowhuffo
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DYODD

Thu, Aug 11, 2011 - 12:51pm
mgb
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Never will I ever consider Fortuna

Ask any Contimuum shareholder why.

I owned FVI but sold when they pulled that stunt.

Dickheads would be putting it nicely.

Silver Banksters.

Sun, Aug 14, 2011 - 10:24pm
Nowhuffo
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Missing a Contimuum Shareholder

mgb; Would you be willing to share with the forum how your opinions were formed?

Mon, Aug 15, 2011 - 8:13am
mgb
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Continuum Resources

Continuum Resources shareholders should answer that question.

I sold my FVI shares when CNU was taken out.

Continuum optioned San Jose and that was NR'd in September 2003.

The bullboards at the time CNU lost San Jose told the story.

Mon, Aug 15, 2011 - 1:03pm
Nowhuffo
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Here's what I found: "August

Here's what I found:

"August 14, 2008: Fortuna Silver Mines Inc. and Continuum Resources Ltd. are pleased to announce
that an agreement has been reached whereby Fortuna will acquire (the “Acquisition”) all of the issued and
outstanding securities of Continuum. The shares of both companies are listed on the TSX Venture
Exchange.
The companies currently hold jointly the San Jose Project in Mexico (Fortuna 76%; Continuum 24%). As
a result of the Acquisition, Fortuna will own 100% of the Project, thus strengthening its position in that
country.
Continuum has 124,052,503 shares outstanding, and Fortuna will issue to the Continuum shareholders a
total of 7.0 million shares, which is an exchange ratio of approximately 0.0564 of a share of Fortuna for
every one Continuum share held. Stock options in Continuum held by non-insiders totaling 285,000
shares will be converted to options to purchase Fortuna shares, at the same ratio. No other rights to
purchase Continuum shares will be outstanding at closing of the Acquisition."

Sounds like a buyout..In May of '09 FVI.to was trading about US$.80...today about US$4.60...San Jose will be commissioned in Sept./Oct.

What's not to like? If I had been a shareholder of FVI back then I would have questioned the 7m dilution. Now, not so much. Coming off the '08 crash it makes Fortuna mgmt. look very astute.

Mon, Aug 15, 2011 - 1:20pm
mgb
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Whistling Dixie

You are entitled to think whatever you like.

Seven million shares for a past producing,high-grade mine.

Fortuna traded at a dollar so they paid their partner and their shareholders $7m for a high grade past producer with 68 million oz M+I.

Very good for Fortuna.

I liked what transpired so much I sold my FVI shares.

Mon, Aug 15, 2011 - 5:08pm (Reply to #20)
Nowhuffo
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Once Fortuna shows the

Once Fortuna shows the increase in production from having San Jose on line expect the market to adjust the share price accordingly. If anyone looks at the chart starting in '09 there seems to be a pattern that most metal heads would be happy with.

There may well be bad blood from the Contimuum buyout. Without that buyout FVI would probably not be where they are today.

“This is the Business We’ve Chosen”

Considering FVI was trading in the US$.40's in Nov of '08 you might say that FVI was both lucky and smart.

DYODD.

And yes I am talking my own book.

randomness