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Fortuna Silver approves construction at Lindero



Fortuna Silver Mines (TSX: FVI; NYSE: FSM) has greenlit construction of an open pit, heap leach mine at its 100% owned Lindero porphyry gold project located 260 km west of the city of Salta, in northwestern Argentina’s Salta Province.

Fortuna acquired Lindero when it purchased the property’s previous owner, Goldrock Mines, for US$129 million in shares in July 2016. Fortuna’s share price has declined steadily since, descending from $11.80 per share in August 2016 to $5.60 on Oct. 2, but with an approved environmental impact study and all major construction permits in hand, the company is looking to finally prove the full value of its property.

“The timing for acquisition was great,” Fortuna president and CEO Jorge Ganoza said during a presentation at the Denver Gold Forum in Colorado Springs in late September. “It was a bad market. It remains a difficult market. And I believe that in this difficult market, investors are sitting, waiting, for us to push this project forward.”

“Sometimes we get complaints from the bankers because they don’t see us as very aggressive, doing acquisition after acquisition. No. We take our time, we look for the right asset, and then we move. Lindero is a good example of that. It’s a transformational asset for us.”

Continue reading at The Northern Miner.

Fortuna Silver Mines (TSX: FVI; NYSE: FSM) has greenlit construction of an open pit, heap leach mine at its 100% owned Lindero porphyry gold project located 260 km west of the city of Salta, in northwestern Argentina’s Salta Province.

Fortuna acquired Lindero when it purchased the property’s previous owner, Goldrock Mines, for US$129 million in shares in July 2016. Fortuna’s share price has declined steadily since, descending from $11.80 per share in August 2016 to $5.60 on Oct. 2, but with an approved environmental impact study and all major construction permits in hand, the company is looking to finally prove the full value of its property.

“The timing for acquisition was great,” Fortuna president and CEO Jorge Ganoza said during a presentation at the Denver Gold Forum in Colorado Springs in late September. “It was a bad market. It remains a difficult market. And I believe that in this difficult market, investors are sitting, waiting, for us to push this project forward.”

“Sometimes we get complaints from the bankers because they don’t see us as very aggressive, doing acquisition after acquisition. No. We take our time, we look for the right asset, and then we move. Lindero is a good example of that. It’s a transformational asset for us.”

Continue reading at The Northern Miner.