Can you believe Stockwatch !!! Calls net income a loss !!
Fortuna Silver to release fiscal 2021 results March 23 | 2022-03-23 21:42 | C:FVI | 5.25 | News Release | Fortuna loses $59.4-million (U.S.) in 2021 |
| 2022-03-23 19:05 | C:FVI | 5.25 | SEDAR Audited Annual Financial Statements | SEDAR Audited Annual Financial Statements |
| 2022-03-23 19:05 | C:FVI | 5.25 | SEDAR MD & A | SEDAR MD & A |
| 2022-03-17 06:21 | C:FVI | 5.31 | News Release | Fortuna Silver increases P+P reserves to 25.9M oz Ag |
| 2022-03-15 06:11 | C:FVI | 5.10 | News Release | Fortuna pegs Seguela at 3.44M tonnes of 3.16g/t Au inf. |
| 2022-02-25 06:38 | C:FVI | 4.74 | News Release | |
Fortuna loses $59.4-million (U.S.) in 2021
2022-03-23 21:42 PT - News Release
Mr. Jorge Ganoza reports
FORTUNA REPORTS RESULTS FOR FOURTH QUARTER AND FULL YEAR 2021
Fortuna Silver Mines Inc. has released its consolidated financial and operating results for the fourth quarter and full-year 2021. Monetary amounts are in U.S. dollars unless otherwise stated.
Fourth Quarter 2021 Highlights
- Record sales of $198.9 million, an increase of 92% from the $103.5 million reported in Q4 2020, due primarily to the contribution of gold sales from the Yaramoko Mine of $52.2 million and from the Lindero Mine of $65.6 million
- Cost of sales of $140.6 million compared to $56.6 million reported in Q4 2020
- Net income of $16.6 million or $0.05 per share, compared to $18.6 million or $0.1 net income per share reported in Q4 2020
- Adjusted net income1 of $29.1 million compared to $23.0 million reported in Q4 2020
- Adjusted EBITDA1 of $89.6 million compared to $44.8 million reported in Q4 2020
- Net cash provided by operating activities of $57.1 million, compared to $31.3 million reported in Q4 2020
- Free cash flow from ongoing operations1 of $30.9 million compared to $34.5 million reported in Q4 2020
Full Year 2021 Highlights
- Sales of $599.9 million, compared to $279.0 million in 2020
- Cost of sales of $394.4 million, compared to $168.7 million in 2020
- Net income of $59.4 million, compared to $21.6 million in 2020
- Adjusted net income1 of $100.6 million, compared to $31.8 million in 2020
- Adjusted EBITDA1 of $280.7 million, compared to $112.6 million in 2020
- Net cash provided by operating activities of $147.1 million, compared to $93.4 million reported in Q4 2020
- Free cash flow1 from ongoing operations1 of $97.0 million, compared to $78.9 million in 2020
- Cash and cash equivalents as at December 31, 2021 was $107.1 million, compared to $131.9 million in 2020
- Silver and gold production of 7,498,701 ounces and 207,192 ounces, respectively, compared to 7,133,717 ounces and 55,349 ounces in 2020, respectively
- AISC1 per ounce of gold sold of $1,116 and $1,317 for the Lindero and Yaramoko mines, respectively
- AISC1,2 per silver equivalent ounce of payable silver sold of $14.38 and $18.94 for the San Jose and Caylloma mines, respectively, compared to $11.56 and $17.37 in 2020, respectively
Jorge A. Ganoza, President and CEO, commented, "Fortuna's record sales and adjusted EBITDA in the fourth quarter of approximately $199 million and $90 million respectively, reflect strong operating results across our four mines in Latin America and West Africa. Lindero's solid performance in the quarter is particularly worth highlighting as the mine delivered 36,072 ounces of gold, in line with expectations and 37% above its gold production for the third quarter." Mr. Ganoza added, "With free cash flow generation from operations1 of $33 million in the quarter and the expansion of our corporate revolving credit facility to $200 million, we closed 2021 with a strong liquidity position of $187 million, $51 million over the third quarter considering $20 million in funding for the construction of the Seguela Mine." Mr. Ganoza concluded, "Throughout 2022, we expect to spend $110 million in Seguela and $20 million in Brownfields exploration, which includes $7.4 million at San Jose and $7.2 million at Seguela."