Morgan Report (07/08/2010)
"Fortuna's silver/zinc/lead Caylloma mine (currently at 1,200 tpd) has permitting underway to increase it to 1,500 tpd. Production in the San Jose Project is projected to get underway in 2011. . .when Fortuna is expected to deliver 5 Moz. silver eq. The company announced record net income for Q110 of US$5.3M, compared with a net loss of US$1.06M in Q109. Cash flow was up and silver production increased 30% over the same time a year ago. Working capital sat at $72M. To date, management has shown great consistency in following through with its expansion plans and has remained faithful to its stated business model."