Hm. Fortuna Silver's Jorge Ganoza confirms in an interview today what Jordan Roy-Byrne said this weekend at PDAC - that FVI intends to grow to 15Moz production, and they'll do it through acquisitions.
He says they'll look at Peru and Mexico.
They want a nice big low-cost silver deposit.
With about half of that new output coming from expansions at its existing projects in Mexico and Peru, Fortuna is taking a hard look at other growth opportunities.
"It will likely come from an acquisition," said Ganoza. "Now will it be a post-discovery, pre-development stage opportunity? Very likely, that's where we look."
To that point, Fortuna is eyeing targets throughout Latin America. Peru and Mexico are its preferred regions, but Argentina, Chile and Central America are also on its radar.
The main criteria is a silver deposit with a big enough resource to operate for many years and is similar to mines the company already has in its portfolio.
"Every time we think about bringing something new into the portfolio, we don't just look at the quality of the asset, we say 'how does this impact the portfolio'," said Ganoza.
"Not all ounces are created equal, we want ounces that provide that healthy margin that our operation needs."
Bear Creek has a nice big post-discovery, pre-production silver deposit. In Peru, even. Why don't they just buy Bear Creek? It's pretty cheap right now.
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I should try to get quoted in the Peruvian press again.
ReplyDeleteExcuse me, I have to go repost this at Stockhouse....
Not saying it's impossible. Am saying that FVI is a vein mining company and Corani is an open pit project so FVI would have to learn or import whole new skillsets.
ReplyDeleteCorani is tailormade for PAAS, really.