(13-05-2024) Fortuna Silver Mines Inc. (NYSE: FSM; TSX: FVI), Vancouver, a diversified precious metals producer with operations in Côte d’Ivoire, Burkina Faso, Argentina, Mexico, and Peru (Caylloma mine), announced a net profit attributable of $26.3 million, or $0.09 per share, compared with a net loss attributable of $92.3 million, or $0.30 per share in Q4 2023. This was part of the report of its financial and operational results for Q1 2024.
Highlights of Q1 2024:
- Gold equivalent production of 112,543 ounces, compared with 136,154 ounces in Q4 2023.
- Silver production of 1,074,571 ounces, compared with 1,354,003 ounces in Q4 2023.
- Generated $84.3 million of cash flow from operations before changes in working capital, and ongoing free cash flow of $12.1 million, compared with $105.4 million and $66.2 million, respectively, in Q4 2023.
- The company paid $40 million of its revolving credit line. At the end of the quarter, the total net debt was $83 million and the total net debt to adjusted EBITDA ratio was 0.2:1
- Liquidity as of March 31, 2024, was $212.7 million, compared with $213.1 million at the end of Q4 2023