GoldMinerPulse Report on Fortuna Silver Mines Inc.: (NI) 43-101 Metal Valuation Report

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Fortuna Silver Mines Inc. (FVI)

Company Web Site: www.fortunasilver.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-07-13. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.

External Links: Yahoo News and Quotes  |  StockCharts  |  StockHouse

More External Links: Canadian Insider Trading  |  

Check Fortuna Silver Lima Quotes (US$)

Recent Production

  • 2010 : Silver production: Q1 479.8K oz silver; Q2 470.3K oz silver
  • 2009 : Silver production: 1.685M oz silver, 28.4M lbs zinc and 25.1M lbs lead producted in 2009.
  • 2008 : Silver production: Q1 140.2K oz; Q2 186.3K oz
  • 2007 : Silver production: Q1 95.5K oz; Q2 119.1K oz; Q3 132.5K oz; Q4 139.4K oz
Source(s): See Fortuna Reports Production Results for Second Quarter for Q1 and Q2 2010 results. See Jan 18, 2010, Fortuna increases silver production press release for 2009 production numbers and 2010 forecast.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit CC MVpSh  PP%  MI%  I% GoldSilverCopperLeadZinc
    CayllomaPE$12.7257%23%21%104.11 K oz    42.35 M oz    0.40 K t    99.10 K t    155.81 K t    
    San JoseMX$11.44055%45%359.81 K oz    45.81 M oz                   
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / MetalGoldSilverCopperLeadZinc
    Metal Totals463.92 K oz    88.16 M oz    0.40 K t    99.10 K t    155.81 K t    
    Metal Prices in US$ (from 2010-09-02)$1,251.30 per oz    $19.69 per oz    $3.46130 per lb    $0.96240 per lb    $0.94810 per lb    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)
$4.91    $14.68    $0.03    $1.78    $2.75    
    Percentage of Total Metal Value20.33%    60.79%    0.11%    7.36%    11.41%    
    PP% | MI% | I%15% | 45% | 39%    23% | 38% | 39%    0 | 100% | 0    69% | 28% | 3%    67% | 30% | 3%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)   US$24.15
    Average Ore Value per Tonne   US$236.08
    Metal Value Leverage (MVL)    8.93
    Market Capitalization as % of Metal Value   11.2%
    Recent Stock Price   C$2.85   (TSX/TSXV close on 2010-09-02.)
  Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count   118.21 M    ( Fully diluted share count take from Fortuna Silver Mines Stock Information web page (viewed June 2010). )
    PP% | MI% | I%   30% | 38% | 32%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade   226.7 g/t
    Market Capitalization
    per oz of Silver In Ground
   $3.63   US$  |   3.82   C$
    Silver Eq Oz Estimate   145.02 M oz   ( 88.16 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent
   $2.21   US$  |   2.32   C$
 
See terms for more about GoldMinerPulse metrics.

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Fortuna Silver Mines Inc. is complete pending a final internal review.


Caylloma    -  ^top^

(NI) 43-101 Report:

Title: Technical Review (NI 43-101) Caylloma Project Peru
Date: 2009-08-12 (104 pages)

Updates: Fortuna Silver Mines Inc., Reserves & Resources web page (viewed October 2009).

Project Location: Arequipa, Peru

Map View: View the Fortuna Silver Mines Caylloma Peru property on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.75    71.31 K oz     0.550 g/t     4.03 M t    
   Silver$3.37    20.23 M oz     156.000 g/t     4.03 M t    
   Lead$1.23    68.56 K t       17,000.000 g/t     4.03 M t    
   Zinc$1.84    104.05 K t       25,800.000 g/t     4.03 M t    
Estimate notes: See Table 1-3 Diluted Mineable Ore Reserves at Caylloma as of 31 December 2008. on p. 10 of 105 in the NI 43-101 report dated August 2009.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.03    2.67 K oz     0.310 g/t     267.47 K t    
   Silver$0.09    550.36 K oz     64.000 g/t     267.47 K t    
   Copper$0.03    0.40 K t       1,500.000 g/t     267.47 K t    
   Lead$0.06    3.16 K t       11,800.000 g/t     267.47 K t    
   Zinc$0.10    5.80 K t       21,700.000 g/t     267.47 K t    
Estimate notes: See Table 1-1 Measured and Indicated Resources, All Veins, Exclusive of Reserves on p. 10 of 104 in the NI 43-101 report dated August 2009.
   •Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.13    11.93 K oz     0.290 g/t     1.28 M t    
   Silver$1.28    7.69 M oz     187.000 g/t     1.28 M t    
   Lead$0.44    24.56 K t       19,200.000 g/t     1.28 M t    
   Zinc$0.73    41.57 K t       32,500.000 g/t     1.28 M t    
Estimate notes: See Table 1-2 Inferred Resources, all Veins, Exclusive of Reserves on p. 10 of 104 in the NI 43-101 report dated August 2009.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.19    18.20 K oz     0.400 g/t     1.42 M t    
   Silver$2.31    13.88 M oz     305.000 g/t     1.42 M t    
   Lead$0.05    2.83 K t       2,000.000 g/t     1.42 M t    
   Zinc$0.08    4.39 K t       3,100.000 g/t     1.42 M t    
Estimate notes: See Table 1-3 NI 43-101 p. 14 of 99


San Jose    -  ^top^

(NI) 43-101 Report:

Title: NI-43-101 TECHNICAL REPORT SAN JOSE SILVER PROJECT OAXACA, MEXICO
Date: 2010-06-09 (116 pages)

Project Location: Oaxaca, Mexico

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.08    196.32 K oz     2.270 g/t     2.69 M t    
   Silver$4.25    25.51 M oz     295.000 g/t     2.69 M t    
Estimate notes: Fortuna Silver Mines Inc., Reserves & Resources web page (viewed October 2009).
Cutoff Grade of 150 g/t Equivalent Silver
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.73    163.49 K oz     2.110 g/t     2.41 M t    
   Silver$3.38    20.30 M oz     262.000 g/t     2.41 M t    
Estimate notes: See Measured + Indicated notes.

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