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Bullboard - Stock Discussion Forum Fortuna Mining Corp FSM


Primary Symbol: T.FVI

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... see more

TSX:FVI - Post Discussion

Fortuna Mining Corp > FVI is too cheap
View:
Post by Farquar on May 01, 2022 11:44pm

FVI is too cheap

A 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...
Comment by WernHerr on May 02, 2022 3:55am
Farqur@ Thank's for your post. Good view!
Comment by geezer21 on May 10, 2022 9:35pm
Hopefully, they are in there buying shares back at these low bargain prices.
Comment by Wynjoe on May 11, 2022 8:20am
With an update coming today we should soon see in what direction this company is heading. A yearly low of $3.73 was hit yesterday,if it falls below that I would recommend everybody stay clear until a new bottom forms,however,it is my opinion that we should rise from here.Speculative Buy.
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