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Fortuna's Q2 silver production dips 7% YOY

Fortuna SilverMines Inc. said July 12 that its silver output for the secondquarter was 7% lower at around 1.6 million ounces compared to a year earlier,but half-yearly production of the precious metal is still above the company'smidyear projection.

Gold output for the quarter was up 4% year over year to9,365 ounces, lead production climbed 85% to 8.8 million pounds and zincproduction jumped 31% to 11.2 million pounds,

Silver and gold production for the first six months totaled3.2 million ounces and 18,629 ounces, respectively — which, according toFortuna, is 7% and 10% above the company's midyear projection.

Fortuna said it is also on track to meet its annual cash costguidance of US$57.40 per tonne for the San Jose mine in Mexico and US$79.40 per tonne for theCaylloma minein Peru.

The company expects to produce 7.0 million ounces of silverand 42,800 ounces of gold, or 9.6 million ounces of silver equivalent, for thefull year.