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Fortuna Mining Corp T.FVI

Alternate Symbol(s):  FSM

Fortuna Mining Corp., formerly Fortuna Silver Mines Inc., is a Canada-based precious metals mining company with mines in the Latin America and West Africa regions. It has operated mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru. Its mine products include gold, silver, lead, and zinc. Its mines and projects include Seguela Mine, Yaramoko Mine, Lindero Mine, San Jose Mine, and Caylloma Mine. The Seguela Mine is located in the Worodougou Region of the Woroba District, Cote d’Ivoire, approximately 500 km from Abidjan. The Seguela Mine in Cote d’Ivoire consists of the Antenna, Koula, Agouti, Boulder, Ancien, and Sunbird deposits, which will be mined via open-pit methods. Its Yaramoko Mine is in the Hounde greenstone belt region in the Province of Bale in southwestern Burkina Faso. The Lindero Mine is in Salta, Argentina. The San Jose Mine in the Taviche Mining District, Oaxaca, Mexico, produces silver and gold. Caylloma Mine in the Caylloma District of Arequipa, Peru.


TSX:FVI - Post by User

Post by Farquaron May 01, 2022 11:44pm
639 Views
Post# 34646633

FVI is too cheap

FVI is too cheapA 400,000 gold ounce eq. producer valued at only 1.3 billion $cdn? That's ridiculously low. They just announced a NCIB of almost 15 million shares , which starts today with a maximum daily buy-back of 276,000 shares and as of April 15th/2022 there were about 10.7 million shares short which will have to be bought back sometime soon.. So, in theory , approximately 25 million shares , above the normal approximately 1 million shares per trading day volume, will possibly be purchased in the open market in the next 2-3 months....This is very bullish...If gold can rebound soon and surpass the 2000$ threshold, then this stock should do very well....This stock was 12.20$ about 15 months ago, so now at 4.49$ it's presently down 63% from it's 15 month high...All this time, Fortuna has been making good profits..The shorts should start covering soon , as FVI's share buy-back program should create a floor sometime soon and should help prevent the share price dropping too much further... There's a possibility of a stock market crash which could bring the gold stocks down with it but that would probably be a temporary drop...
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