Fortuna Silver Mines (FVI.TO, NYSE:FSM) has reported its final production numbers for 2013 and already provides an outlook for this year. In 2013, the company produced 4.6 million ounces of silver and in excess of 21,000 ounces of gold at its San José Mine in Mexico and Caylloma mine in Peru.
The total output should increase this year even further to 6 million ounces of silver and just over 32,000 ounces of gold thanks to the expansion at the San Jose mine. As the expected AISC for the silver is $17.14/oz, Fortuna should definitely be free cash flow positive based on the current gold and silver price.
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Disclosure: The author holds no position in Fortuna Silver. Please see our disclaimer for current positions.
