Fortuna Silver Mines reports Q1 adjusted EPS 9c, consensus 5c

Reports Q1 revenue $224.9M, consensus $226M. “Our operations performed in line with expectations for the first quarter with 112,543 of gold equivalent production, $84.3 million in cash from operations before working capital changes and earnings per share of $0.09.” said Jorge Ganoza, Fortuna’s President and CEO. Mr. Ganoza continued “Coming off a record fourth quarter, lower production was in line with plan as Seguela prepared the Ancien pit for mining, a maintenance shutdown was completed at Yaramoko and San Jose focused on underground preparation with site production weighted to the second half of the year.” Mr. Ganoza concluded, “We also executed on our capital priorities by paying down an additional $40 million in debt and advancing exciting exploration opportunities at Seguela and Diamba Sud while also returning capital to shareholders through our share buyback program.”