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Fortuna Silver to meet 2017 guidance despite Q3 gold, silver output dips YOY

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Fortuna Silver to meet 2017 guidance despite Q3 gold, silver output dips YOY

Fortuna Silver Mines Inc. said Oct. 16 that its San Jose mine in Mexico and Caylloma mine in Peru produced a total of 2.0 million ounces of silver and 13,412 ounces of gold plus base metal byproducts in the third quarter of the year.

The silver output represents a 4% year-over-year drop, and gold fell 5% during the period. Lead production increased 3% to 7.7 million pounds, and zinc rose 6% to 11.2 million pounds.

Despite the fall in the quarter's production, Fortuna said its nine-month output is above projections at 6.2 million ounces of silver and 41,158 ounces of gold, putting the company on track to hit its output target this year of 8.1 million ounces of silver and 52,400 ounces of gold, or 11.2 million ounces of silver equivalent.