Andrew Kaip, BMO Capital Markets (07/20/10) "FVI provided an update on construction activities at its 100%-owned San Jose project located in Oaxaca, Mexico. . .Development remains on schedule and on budget, and fully funded with $74M cash on hand. Recent developments include the upgrading of the water treatment plant (77% complete), installation of a 15 km water pipeline (30% complete), construction of an electric power substation (16% complete) and detailed engineering for the tailings dam (95% complete) with groundbreaking slated for this week. . .These developments support BMO Research's expectation that FVI will accelerate production ramp-up at the mine, reaching 1.5k tpd by mid-2014, 18 months earlier than the timeline outlined in the PFS. At these rates, BMO Research forecasts FVI's silver eq. production to increase to 8.2 Moz. by 2013E (+77%)."



GoldAlert (07/20/10) "While most large-cap silver stocks have underperformed. . .Fortuna Silver shares have surged 104.9% since July 20, 2009. This afternoon, the Canadian-based silver miner released an update on construction activities at its 100%-owned San Jose silver/gold project in Oaxaca, Mexico. . .is proceeding on schedule and within budget for completion and commissioning of the mine in Q311. . .San Jose is expected to operate at a rate of 1,500 tpd, and will produce 5M silver eq. oz. on an annual basis at a cash cost of $6.20/oz."