RE: FVIVery happy with my purchase of Fortuna. Quality mgmt, excellent performance at Caylloma and MINIMAL DILUTION (ok, maybe a small amt of debt) will be needed to bring on a big producing mine.
San Jose will move Fortuna into the senior category. They already have 34 million in cash and have cashflow in the 15 to 20 million range from Caylloma. They will likely build San Jose with internally generated cash. They have the credit line to finance startup and rampup activities.
Production decision is coming by mid year and then it's a race to build the new mine and get to first production before 2011 is over. I would guess it will be 2012 before they get any meaningful production.